Adam E. Klein, MD - West Virginia State Medical Association

WV Medical Insurance Agency | NEWSTransition: There isChange in the AirDisability InsuranceProduct Transition: Changeof Company NameIn August of 2011, the WestVirginia Medical Insurance Agencyannounced a preferred carrierrelationship with Union CentralLife Insurance Company whichprovided a 15% premium discountfor members of the West VirginiaState Medical Association shouldthey purchase disability insurancethrough Union Central Life InsuranceCompany utilizing the West VirginiaMedical Insurance Agency.TOA change in carriers for thisprogram has recently occurred. In thefuture disability insurance productswritten through Union Central LifeInsurance Company will transitionto being written by Ameritas LifeInsurance Corporation (Ameritas Life).Both Union Central and Ameritas aresubsidiaries of UNIFI Mutual HoldingCompany, and are rated A (Excellent)by A.M. Best Company; therefore, theresult of this change is only cosmeticfor clients of the West Virginia MedicalInsurance Agency. The advertisementon the inside back cover introducesthe new carrier’s name: Ameritas LifeInsurance Corporation (Ameritas Life).This visible change is the only changein our program, while the things youvalue the most remain unchanged:1. The great team of professionals youwork with remain unchanged.46 West Virginia Medical Journal2. The great key competitivecoverage features you relyon remain unchanged.3. The availability of the WVSMA/WVMIA 15% membershippremium discount for DIpolicies remains unchanged.For questions about this changeor questions about the West VirginiaMedical Insurance Agency’sWVSMA disability insuranceproduct, please contact Steve Brown,agency manager, at 1-800-257-4747ext 22 (304-925-0342 ext 22).401K Marketing to Change to AllInclusive Retirement PlanningOn Wednesday, March 21st,we were advised by The Hartfordthat as a result of their decision to“sharpen its focus on the propertyand casualty, group benefits, andmutual fund business” they willbe pursuing sales or other strategicalternatives for Individual Life andRetirement Plans. The Hartfordstrategy is expected to take 12 to 18months to implement. During thistime the Agency will seek a newpartner (carrier) for our preferredcarrier retirement plan program.We were surprised by TheHartford’s announcement due to thesignificant role they had establishedin 401K business, but believe thiswill allow us to refine our offering ofretirement planning and make it moreattractive for WVSMA members.Our relationship with The Hartfordfor property and casualty business(businessowners’ and workers’compensation insurances) will bestrengthened by this announcement,as The Hartford’s focus will bemore directed towards propertyand casualty business. In fact, TheHartford currently offers WC and BOP(businessowners policies) productsvery specifically designed for medicalpractices at very competitive pricing.Should you have questions, pleasedo not hesitate to contact SteveBrown, agency manager, at 1-800-257-4747 ext 22 (304-925-0342 ext 22).BOPWeb-Page ChangesWCCheck us out on the WVMIA webpage at www.wvsma.org or go directto our link at www.wvmia.com.Although our web-page is new,we hope to be making numerouschanges to it as new information isavailable. Please check us out andgive us some feedback on what youwant to see. E-mail Steve Brown,agency manager, at steve@wvsma.org.EPLI ChangesIn order to make their EPLI(Employment Practices LiabilityInsurance) offering more customerfriendly, The Hartford has reducedminimum premiums by as muchas 75%; created limits availabilityof up to $1,000,000 maximum andreduced the number of underwritingquestions to quote higher limits.Do you need EPLI? EPLI isessentially used to protect businessesagainst lawsuits by employeesalleging specific employmentrelated exposures such as sexualharassment, age discrimination,illegal retaliatory treatment ofemployees, negligent evaluation ofemployees and employment-relatedinvasions of practice to name some.For more information, call SteveBrown, agency manager, at 304-925-0342 ext 22 or (1-800-257-4747 ext 22).