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INSURANCE
FRAUD AND VOLUNTEER WORKERS
THE CURSE OF BEING DECLINED FOR HEALTH INSURANCE
REAPPLYING FOR AN INSURANCE PLAN--WHY SO DIFFICULT?
GENERIC DRUGS--HOW SAFE ARE THEY?
DANGEROUS LIAISONS--MIXING DRUGS
MEDICAL GUIDELINES FOR INTERNATIONAL WORKERS
THE PROBLEM WITH SPAM FILTERS
MEDICAL ADVICE & INSURANCE TIPS FOR OVERSEAS TRAVELERS
WHY
SOME INSURANCE COMPANIES LOSE MONEY
SHORT
HISTORY OF “LLOYD’S OF LONDON”
DENIED INSURANCE?
WHY DOES IT HURT?
SOME AMAZING STATISTICS ON US HEALTH INSURANCE
WHY SOME INSURANCE COMPANIES LOSE MONEY
One major reason is sometimes insurance companies are not tight enough on
underwriting. This means that they do not carefully screen applicants, and
then end up insuring people who are too great a risk. If a person is
overweight, has high blood pressure, and smokes, that person may be a real
risk. If they insure too many people like this, they could end up losing
money. Another reason could be poor administration. Administration adds cost
to all products and services. If a company is not streamlined or is not
seeking to increase worker productivity, they can end up losing money.
Another problem could be that they have priced their insurance plans below
market value. Often companies do this to get “market share,” but if their
prices are too low they will not have adequate income from premiums to pay
for their claims. Do all of these things happen? Sure! Just a couple of
years ago two large insurance companies in Arizona went bankrupt.
What do we get from this? Well, tight underwriting and plans that are close
in price to plans from other companies are probably signs of a good healthy
insurance company. Although we don’t like not getting a “live person” when
we call the insurance company, we need to remember that they are trying to
cut their service costs.
| Need Help? Call 480/813-9100; Fax 480/813-9930; Email: info@gninsurance.com |
