Avoid Headaches Caused By Using Multiple Airlines

Dianne Jimenez

Sometimes it is difficult and more costly to book a direct flight when planning a trip. Many travelers opt for having layovers between flights before arriving at their final destination. USA Today provides an example of the troubles that can occur when your flights are booked through multiple companies and how those problems can be avoided by taking advantage of travel insurance. 

Why Separate Airline Itineraries Can Spell Trouble | USA Today
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D&O and Professional Liability 2013 Review

Sharon Dold

Directors and Officers Liability and Professional Liability insurers continue to see a significant volume of claims.  The law firm of Troutman Sanders prepared this summary of a selection of 2013 court decisions. They have categorized the claims by issues such as timely notice, prior knowledge, prior acts, dishonesty exclusions, and insured versus insured exclusions.  Policy forms vary from insurer to insurer.  Laws also vary from state to state.  With those points in mind and with the wide variety of cases discussed, we found this paper to be an interesting read.

D&O and Professional Liability 2013 | Troutman Sanders
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Tips on Insuring Your Vacation

Greg Petit

With summer fast approaching, it is the perfect time for people to begin planning their vacations. It is important to figure out which travel insurance options best suit your needs. Some trips may be a little more adventurous while others may be less so, especially when traveling with young children.

Check out the following article from InsureMyTrip and find out what works best for you:
National Park Week: Insuring Your Family Adventure | InsureMyTrip
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Think You Don’t Need Life Insurance?

Sasha Schnurr

The article below reveals the most common reasons consumers do not purchase life insurance and the regrets that it can cause later.

If you have ever had any of the following thoughts then I urge you to keep reading:

  • “I have plenty of assets to support my family.”
  • “Life insurance is a waste of money because I am healthy.”
  • “Life insurance is important, I will get it eventually.”

 Visit the link below and U.S. News will take you through some real life examples of people who had these same thoughts and the negative affects it had on their families. 

3 Ill-Advised Reasons Not to Buy Life Insurance | U.S. News

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Are Common Forms of Travel Insurance Addressing Business Traveler Needs?

Dianne Jimenez

The following article from InsureMyTrip discusses how business travelers differ from vacation goers and how disruptions such as flight cancellations and delays may not be their biggest concerns. Find out why typical comprehensive policies may not address the needs business travelers are searching for.

Travel Insurance for Business Travelers | InsureMyTrip
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BHI Database Provides Insight Into Large Claim Diagnoses

Craig Irvine

In a review of the BHI data, BCS’s initial findings reveal the top ten high cost diagnoses. These top 10 diagnoses comprise about 40% of all large claims costs and represent about $9.2 billion in ground up claims. Large claims are defined as total paid claims over $500K per member per year. In addition to total claim dollars, the chart below includes the frequency rate per 100,000 members, average severity of each claim, and the highest cost single claim amount. Stay tuned for our next blog post that will examine the 10 most expensive claims incurred within a one year period.

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BCS and BHI Contractual Relationship Offers Powerful Insight for Blue Plans

Craig Irvine

BCS recently entered into a contractual relationsip granting it access to the BHI Database. The significance of the BHI Database is extraordinary with 40 million Blue Plan members and $100 billion in claims per year. As the largest, most comprehensive database in the industry by far, it grants a unique opportunity for BCS to study and merge the unique perspectives of the Blue System and BCS. This graph illustrates a key finding in our initial study of the data – large claim trend is about 5 times higher than first dollar medical trend when we define large claims to be over $500K per member per year.
blog post trend analysis

It is important to note the following when considering the ramifications of this data:
  • The main driver behind the high large claim trend is due to an increase in the frequency of large claims as opposed to their severity.
  • The leveraged trend for large claims over $500K was even higher at 26.1% (i.e., trend for the claims costs in excess of $500K).
Stay tuned for our next blog post that will include more detailed information about large claim diagnoses that we are seeing in the BHI data.
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