About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, December 6th, 6:43PM
rss
Latest Headlines

Opinion: Spare a thought...

There are many changes afoot in our industry, most of which will land - after so many years in the making - this year. However, spare a thought for the insurance broker in the US.

Wednesday, January 13th 2010, 5:00AM

by Russell Hutchinson

Tax laws and companies vary a great deal across this vast market, making any discussion of "the insurance business in the USA" almost as silly as the famous example of discussing the weather in the US.

However, there is one federal change which will have an impact across the entire union: the changes to US healthcare - often dubbed "Obamacare" by opponents, who wish to attach any blame for difficulties with the incredibly complex changes to president himself.

It's a vast package of changes that runs to more than 2,000 pages in a draft bill and covers revisions to many hundreds of programmes or organisations. Healthcare in the US is a complicated business. Complexity means that consumers often seek advice and one of the challenges is that although a private market for health coverage remains central to even the system proposed, the changes will probably reduce the scope for the insurance broker advising clients.

Efforts to simplify and streamline coverage options and create a new marketplace for the presently uninsured may squeeze the advised sector. Yet the need for advice will remain. This may make you think about the fee for advice discussions which have come up repeatedly in recent months. In fact, there are many financial decisions in which advice may be useful for a consumer - but no commission is possible, and only a fee for advice could work. These often remain untapped.

Perhaps there's money in managing risk and insurance programmes in a different way?

 

« Opinion: They’ve been misled, so they mislead youOpinion: Have you ever wondered? »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

Fidelity scores top award for third consecutive year
Fidelity Life has been named 2019 Life Insurance Company of the Year by ANZIIF for the third consecutive year.

Suncorp invests in wellbeing
Suncorp New Zealand has now invested a total of $20 million into wellbeing bonds as part of its focus on identifying sustainable investment opportunities that can deliver positive community outcomes.

AIA adds mental health support
AIA is boosting Vitality members’ donations to the Mental Health Foundation.

Major milestone for Cigna
Cigna, which acquired OnePath Life last year, is on the verge of reaching "a huge milestone".

News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com