New ISO Program Targets Home Healthcare Insurance Market
Compiled by Insurance24
Harare, ISO has launched a new home healthcare program that provides coverage and ratings for insurers covering the home healthcare market. ISO is a Verisk business.
The aging population is one factor in the significant expansion of home healthcare in the United States. The U.S. Census Bureau projects that the over-65 population will double to nearly 84 million within 30 years. Other growing segments, such as pediatric and disabled care, are also driving demand. In fact, home healthcare and personal care aide employment is estimated to increase 40 percent from 2016 to 2026, according to the U.S. Bureau of Labor Statistics.
The ISO program features professional and general liability coverages and includes optional endorsements for several critical exposures, such as allegations of abuse or molestation, employment-related practices liability, home healthcare equipment, and theft of patient or client property. It also offers 31 separate classes for the most common home healthcare professions, from home health aides to registered nurses.
ISO provides statistical, actuarial, underwriting, and claims information and analytics; compliance and fraud identification tools; policy language; information about specific locations; and technical services for the commercial and personal lines of insurance. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace
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Reinsurance giant AXIS Re announces major overhaul
AXIS Re, the reinsurance segment of AXIS Capital Holdings, has announced a series of actions to increase client satisfaction and drive profitable growth, including the implementation of a consultative client-engagement model and the expansion of product and market capabilities. The company is also increasing its presence in Asia.
“AXIS Re has been a remarkable story over the last 17 years and has established a profile from a start-up company to a global player with a reputation for strong underwriting, expertise and claims service,” said Steve Arora, AXIS Re CEO.
“Today, the industry is rapidly changing – new forces are reshaping the market, new risks are emerging, protection gaps are growing and there is a need for fresh solutions that solve client needs.
As the market transforms, we believe in the long-term potential of our business, and it is our ambition to achieve a leadership position which will allow us to deliver significant value to our clients, our brokers, and our communities. This is the next step in the evolution of AXIS Re.”
The company will enhance its client-engagement model with the launch of AXIS Re Strategic Partners, a dedicated team to serve clients and brokers. It is also expanding products and markets. This will include broadening capabilities for structured reinsurance, growing the AXIS Re presence in Asia, and dedicating a team to service the newly formed Specialty Re businesses.
The company is also redesigning its organizational model. AXIS Re will now be organized around four major divisions – North America, EMEA, Asia, and Global Markets – supported by two teams, Reinsurance Products and Reinsurance Services.
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