I was talking with a Personal Lines agent (they do auto, home, commercial, etc.) and we were discussing Med Pay.
Med Pay is an Endorsement on a Auto Policy that pays for medical bills that result from an injury during an auto accident.
It's the Cheapest Freakin' Health Insurance Ever. Buy it!
Now, the PL agent said he likes to limit the coverage to $5,000 per person ($20,000 for four people in a car), to keep his loss-ratio low.
Huh? I disagreed with him, but got to thinking.
For Disability, I have a accepted/declined ratio which determines my commissions and renewals. Ergo, if I try to put too many "risky" people with a DI company, they punish me. That's called Bullshit, for those playing the home game.
I've heard of nothing like that in the Individual Health Insurance Market.
What if the Agent was responsible for getting claims paid? I don't know how I'd structure that, or even score it, but I bet if something of the sort existed, insurance agents would sell shitty insurance.
A claims ration for Agents...another piece of the health care and health insurance puzzle.
OH, by the way, New Zealand has the highest winning percentage, especially at home, of any international team.
Completely random, but I found a WWBMKD? shirt in a GoodWill around me and just had to buy it - because my initials are BMK!
ReplyDeleteI of course know nothing about rugby, but just because of this shirt, I'll tell people all about your rugby insurance. :0