Five key ways to help stabilize the individual and small group health insurance markets in 2018

| November 30, 2017

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This paper presents five key considerations for promoting market stability for the 2018 and 24319 benefit years under the assumption that they are transitional years where many current ACA rules remain in effect. For the purpose of this paper, market stability is defined as the creation of a marketplace that both insurers and insureds will find worth participating in. This involves striking a balance between protecting insurers from the risks inherent in a market that is in transition and ensuring that consumers have access to meaningful and affordable coverage. Our definition is similar to that used by the Congressional Budget Office (CBO) in its recent report' on the potential impact of the current draft legislation working its way through Congress. The CB0 defines stability as "having insurers participating in most areas of the country and on the likelihood of premiums' not Sing in an unsustainable spiraL"

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Cross Insurance

Cross Insurance is a family owned insurance agency made up of a network of wholly-owned subsidiary insurance agencies throughout Maine, New Hampshire, Massachusetts, Connecticut, New York, and Rhode Island. Getting its humble beginnings in the home of Woodrow Cross in 1954, the company has since grown to become New England’s largest and the nation’s 37th largest independent insurance provider with more than 30 branches and more than 700 employees.

OTHER ARTICLES

AI is Real—and It’s Helping Corporate Legal and Insurance Claims Professionals

Article | April 1, 2020

There’s been a lot of talk about artificial intelligence amongst those involved in the insurance technology (insurtech) and legal industries, and for very good reason. AI is a transformative technology that has the power to revolutionize how legal and claims litigation work is performed. Indeed, with AI in their corners, legal and claims professionals can address many of the challenges that they face on a daily basis, including cost control, staffing levels, compliance with billing guidelines, and more.

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Does Business Interruption Insurance Cover COVID-19 Closures?

Article | April 2, 2020

Our clients are asking us: Do commercial property and, specifically, business interruption insurance policies provide coverage for COVID-19-related losses? As discussed below, it is critical that you promptly review your company’s policies, exclusions and relevant endorsements to evaluate whether your business has coverage in the wake of COVID-19. If appropriate, you should make a claim with your insurance carrier.

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Does Business Insurance Cover Coronavirus Losses?

Article | March 31, 2020

People running businesses are scrambling to figure out how to deal with their financial losses and expenses from coronavirus COVID-19 business interruptions. Including me. I like sharing explainer Q&As with people who know more about subjects than I do and am using this blog post to share with others what I learned about what types of business insurance cover coronavirus COVID-19 losses. This is a basic explainer and not legal advice, and I tried to ask questions that would be helpful to both non-lawyers and lawyers.

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Top 3 Challenges to Data Science and Machine Learning Adoption in Insurance

Article | March 27, 2020

Hiring people with skills in machine learning is extremely difficult across industries due to a shortage of talent and skyrocketing demand. But the insurance industry is better positioned than most to overcome this challenge via upskilling. With tens (possibly hundreds) of statistics-minded actuaries already on staff, providing the right tools to nudge them into the world of data science is a small step. Upskilling business staff is also a great way to fill talent gaps, and in many ways, it’s necessary for insurance businesses that want to democratize data science.

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Spotlight

Cross Insurance

Cross Insurance is a family owned insurance agency made up of a network of wholly-owned subsidiary insurance agencies throughout Maine, New Hampshire, Massachusetts, Connecticut, New York, and Rhode Island. Getting its humble beginnings in the home of Woodrow Cross in 1954, the company has since grown to become New England’s largest and the nation’s 37th largest independent insurance provider with more than 30 branches and more than 700 employees.

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