For many years, carriers in the voluntary market have struggled with how to handle multi-state accounts. It now seems, however, that the struggle is mostly over according to the findings in Eastbridge’s most recent Frontline™ Report, Situs State Regulation Practices of Voluntary Carriers.
The majority of carriers responding to the survey are pleased with their company’s current situs policy and practice. In fact, most said that situs state issues rarely come up for discussion these days. Only 12 percent of the respondents are unhappy and would prefer a more liberal stance when it comes to situs practices.
In past surveys, carriers said that their company’s situs state practices were hurting sales. Today, most say the practices have no impact on sales. Just under one-quarter indicated that their practices help sales either “a little” or “a lot.”
The Situs State Regulation Practices of Voluntary Carriers Frontline™ Report examines how carriers in the voluntary market handle multi-state accounts. With this data, companies can compare their own practices to others in the industry. Eastbridge Information Partners™ and survey participants receive the report, as well as other Frontline™ Reports, free of charge. For more information regarding the Information Partner program or about Eastbridge reports, email the company at firstname.lastname@example.org or visit eastbridge.com/research/IPSubscriber.html.
Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.