IMG Provides Industry Insight
(INDIANAPOLIS, IN – SEPTEMBER 25, 2008) – With the bailout of insurance giant AIG and volatility in U.S. financial markets, there have been a growing number of inquires among insurance producers about the safety of the policies they offer their clients. To ease this anxiety, International Medical Group®, Inc. (IMG®) has been providing insurance producers with guidance on industry growth for the future.
“Any time an insurance carrier runs into financial difficulty, it hurts the industry as a whole,” said Jeff Nasser, Senior Vice President of Marketing at IMG. “It’s imperative that when you’re deciding whose products to offer your clients, you do your research. Look for a company with an extensive product portfolio, offering comprehensive benefits and experienced administration. Whether you’re writing your first piece of international business or have years of experience, it’s essential to work with a company that provides the international business support and market insight needed to exceed your clients’ expectations.”
According to Nasser, it’s also vital to ensure that your provider is backed by the financial stability of an established international insurance carrier. “Each insurance provider has an insurance carrier that backs its programs,” said Nasser. “Credit rating agencies like Standard & Poor’s, A.M. Best and Moody’s analyze the financial strength, credit ratings and future financial outlook of insurance carriers providing you with the knowledge you need to make sound, confident decisions.
“For example, IMG’s insurance carrier is Sirius International, a White Mountains Re company. It holds insurance ratings of A (Excellent - A.M. Best), A- (S & P) and A3 (Moody’s). All three ratings, according to the respective ratings agencies, indicate Sirius has the ability to meet its ongoing insurance obligations and has a low likelihood of a rating change due to stable financial and market trends.”
Nasser also stated that the opportunity for continued growth in the international market is enhanced by working with a strong, self-sufficient insurance provider committed to quality, whose primary focus is on the client.