Industry Insights

Well, the Stop Loss industry seems to be a rousing one these days. Claim incidences and expenses are on the rise (with no end in sight) – and we have to figure out how to contain the costs to protect everyone’s bottom line. Our sleeves are rolled up at HM. Who else is in? This is going to take a pretty big effort from all of us if we are to minimize the risk.

Having been around the Stop Loss world for 30 years, I know that without a solid foundation of expectations and the type of commitment that HM has with our producers and our mutual clients, good partnerships can fall apart. And in the Stop Loss realm, the groundwork starts with a well-constructed contract.

When you consider entering a relationship, commonalities are the first thing you seek. How are you alike? How will you work together? This is no different when you are evaluating a career opportunity. You want the right fit. And sometimes, the right fit is tied to the breadth of capabilities demonstrated by both parties and the accuracy of their alignment. It’s important to be a good match, and I believe that is what I found with HM Insurance Group.

When you’re facing the challenges of a market that’s experiencing continued growth in medical and pharmaceutical costs, fueling the frequency of catastrophic claims exceeding the $1 million mark, you have to take a proactive approach to managing claims. At HM, we know that excellent medical management creates the foundation for successful cost containment for self-funded employers, and we encourage its use with our partners and clients through strong communication and education.

Those who know me would probably say I tell it like it is and get to the point quickly. I’m not particularly sure that “blogging” is my thing, but I do know that we need to directly address some challenges in the current market. To do so, we have to be open to conversations – sometimes hard conversations – that allow us to honor our commitment to providing the right protection to meet the needs of our mutual clients.