Clients & Expertise
Below are some of the parties to which we provide services and consult with on a regular basis:
State Insurance Regulators
We serve the state agencies that regulate the insurance industry in various ways, acting as a liaison between the board of directors and the agencies on various sensitive issues. Pool Administrators Inc. also alerts them to potential issues that may exist in the market that would otherwise go undetected, such as dumping, steering and detection of other unfair marketing practices, agent and broker outreach, carrier reporting, consumer guides, and association health plan issues.
In addition, as the administrator of the reinsurance pool and the assessment mechanism, PAI is the aggregator of important information that is often difficult for these departments to obtain. With the cooperation of the boards, the departments are allowed access to some of this data thus making their job easier.
Boards of Directors and State Agencies
Our service to the governing bodies of the pools that we administer is all encompassing. From providing all of the “back-office” functions to assisting the auditors in their performance of the audit of the financial statements, PAI does it all. We also act as a sounding board and research resource for state and federal agencies as they consider market reform related to pooling, risk spreading, and funding of the pools, as well as the facilitator of changes which may occur as a result of the research that is done.
Throughout the years, PAI has been contacted by a multitude of various state Legislators as a resource on certain topics surrounding high-risk pools, reinsurance and insurance. We have been contacted to study and project the impact of reinsurance pools in various states, as well as to discuss the impact of potential legislative changes and what role the reinsurance and/or high risk pool could play in mitigating any negative effects of such changes. All contact with Legislators is communicated to the board involved and requests evaluated to ensure that involvement is appropriate.
Pool Administrators Inc. most frequently interacts with the insurance carriers that participate in the reinsurance pools that we administer. The service that we provide to the carriers ranges from responses to routine and daily inquiries, to providing guidance regarding the plans of operations. We are also the liaison between the carriers and the boards of directors concerning issues related to assessments and reinsurance in general, and all of the services we provide to the carriers proves invaluable to the boards, as they are voluntary boards whose members time is very valuable.
Insured Members and Subsidy Recipients
PAI operates fully functional call centers for a Medicare supplement program as well as the high-risk pool for the state of Connecticut. We also bill and collect premiums and assist members who may have issues in that area.