State looks at legislation to void coronavirus exclusion clauses

Insurance Business America | March 30, 2020

A bill being drafted in the state of New Jersey could put certain property insurers on the hook for business interruption losses due to the COVID-19 outbreak. Once approved, NJ Draft Bill A-3844 would immediately take effect, and will apply retroactively to insurance policies in force on March 09, 2020, specifically those policies that insure against loss or damage to property, as well as loss of use, occupancy and business interruption coverage. Essentially, the bill voids any virus exclusions such policies may have. New Jersey declared a state of emergency on March 09, 2020, so the bill requires insurers to indemnify their insureds for any business loss sustained since. However, the bill only applies to policies issued to policyholders with less than 100 full-time employees – particularly those employees who work a normal week of 25 or more hours.

Spotlight

It’s not just four wheels and an engine, it’s a prized possession—the car you cherish. You love it. You definitely count on it. Your auto insurance policy needs to be dependable too. Whether you’re shopping for a new car or your policy is about to renew, now’s the ideal time to take a look at your coverage to be sure you have all the protection and services that you need and you’re not paying more than you should.

Spotlight

It’s not just four wheels and an engine, it’s a prized possession—the car you cherish. You love it. You definitely count on it. Your auto insurance policy needs to be dependable too. Whether you’re shopping for a new car or your policy is about to renew, now’s the ideal time to take a look at your coverage to be sure you have all the protection and services that you need and you’re not paying more than you should.

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Oakbridge Insurance Continues Expansion Through New Partnership with Snider Killingsworth Insurance & Risk Management

Oakbridge Insurance | September 17, 2021

Oakbridge Insurance Agency LLC (Oakbridge), one of the largest independent insurance and risk management agencies in the Southeast, today announced a new partnership with Snider Killingsworth Insurance & Risk Management (Snider Killingsworth) based in Griffin, Georgia. The partnership strengthens Oakbridge's footprint in Georgia, particularly within the growing Metro Atlanta region, and sets the stage for continued expansion in the Southeast. The partnership provides both firms with access to a broader pool of resources, industry knowledge, and niche expertise across several specialty insurance offerings, such as specialized construction, non-profit, transportation and logistics, and retail. We are excited for our partnership with Snider Killingsworth and how the combination provides expanded expertise and resources for our clients, At its core, our purpose is about helping people and we do that through providing our clients with the highest levels of service and expertise. By combining forces with Snider Killingsworth, we increase our ability to strategically support our clients with an expanded offering of solutions while also strengthening our already deeply rooted presence in the Griffin community. - Oakbridge CEO Robbie Smith. Founded in 1947 by Otis M. (Pete) Snider Jr., and purchased by Terry L. Killingsworth in 1983, Snider Killingsworth has long been known for excellence in client service, from listening attentively to client needs to providing comprehensive, straightforward, and thoughtful independent risk management solutions to advocating for client interests. In addition to aligning with Oakbridge's values and culture, the firm's existing carrier relationships and industry practice areas are a great complement to Oakbridge's offerings. We are thrilled to become an Oakbridge partner and look forward to the growth and momentum that's ahead for our organization. This partnership will allow us to share best practices, create greater efficiencies and deliver even higher levels of value for our clients. - Snider Killingsworth CEO Terry Killingsworth. As an Oakbridge partner, Snider Killingsworth will maintain its office in Griffin, Georgia. About Snider Killingsworth Insurance Agency Snider Killingsworth is an independent insurance agency in Griffin, Georgia, that has been serving businesses, individuals and families in the southeast since 1947. Snider Killingworth offers personal and business insurance as well as general risk management and is affiliated with the Independent Insurance Agents & Brokers of America (IIABA) and its Trusted Choice program, as well as with the National Association of Professional Insurance Agents (PIA).. About Oakbridge Insurance Agency Founded in 2020 through the merger of four leading insurance and risk management firms in the Southeast, Oakbridge Insurance Agency LLC is a rapidly growing partnership model for firms seeking accelerated growth, access to capital and an expanded suite of resources with which to serve clients. Ranked a "Top 100" insurance brokerage by Business Insurance and Insurance Journal magazines, Oakbridge is now one of the largest privately owned insurance, risk management, and employee benefits agencies in the region. The agency has specific experience in the agriculture, bond/surety, construction, financial, health care, manufacturing, municipalities, non-profit, senior living and transportation industries.

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InsurCard Launches Revolutionary Technology for Medicare Set-Aside Program

InsurCard | September 23, 2021

InsurCard® the nation's leader in electronic payment solutions, has launched a breakthrough insurance technology for MSA recipients. InsurCard's Medicare Set-aside (MSA) Program helps MSA recipients manage their own insurance settlements using technology available through the payment card networks. MSA recipients manage their own insurance settlements using technology available through the payment card networks. Our program is a debit card-based product designed for individuals who have received an insurance claim settlement and need to follow Medicare Set-aside regulations. The MSA program is a set of automated tools that give the advantages of professional administration to those who choose to self-administer their settlement. - InsurCard Founder and CEO Robert Mendte While professional MSA Administration companies are available, more than 90% of MSA recipients choose to self-manage their insurance settlements. However, the regulations established by the Center for Medicare Services (CSM) can be complicated, and MSA self-management requires meticulous record keeping and comes with steep penalties for errors. This is one of many reasons why InsurCard's MSA solution is an ideal option. Here are additional noteworthy features: Discount programs for pharmacies, medical providers, drugs and durable medical equipment Reduced pricing for hospital and medical bills based on State Workers Compensation schedules Automated record keeping and CMS reporting assistance Payment tracking Programmed Merchant Category Codes (MCC) Debit cards that avoid inappropriate purchases based on CMS guidelines Fund exhaustion mitigation through low balance notifications Website access to all account transactions and balances A HIPAA compliant 24-hour Call Center In the InsurCard program, a debit card doubles as a pharmacy card and payment card. The debit card will only work on purchases allowed under CMS guidelines. All purchases are tracked and recorded for CMS annual reporting. If appropriate, money can be withdrawn from the account, but must be tracked by the individual. Congress established the MSA legislation and subsequent regulations to protect the interests of Medicare and the U.S. taxpayer. Failure to properly administer an MSA account carries potentially severe consequences, including the denial of Medicare coverage when needed, which potentially leaves the beneficiary responsible for all medical claims and mismanaged funds. Enrollment in the InsurCard MSA program is free of charge. Settlement recipients should always consult with their legal representative about the program. About InsurCard Headquartered outside of Philadelphia, InsurCard has been the leader in electronic payments for the insurance industry for more than a decade processing over $4 billion in payments annually. InsurCard is a wholly owned subsidiary of Service Network Design, LLC. The InsurCard Prepaid Card programs are specifically designed to meet the stringent requirements of both the insurance and prepaid card industries.

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Shift Technology Partners with MAPFRE to Transform Insurance Claims Process

Cision PR Newswire | October 19, 2020

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