How often are claims paid?
Insurance claims occur and are paid weekly from the insurance pools managed by the third party Insurance Manager. The claims paying process is robust and active.
Who is the Insurance Manager?
Our third party Insurance Managers are nationally known and manage the insurance process, including collecting premiums, paying claims and other operational matters. In this way, its functions are akin to a TPA (third-party administrator) of a tax-qualified retirement plan. However, the role of LodeStar Re goes further. It also prepares reinsurance [...]
What is the role of the Insurance Manager?
The Insurance Manager provides a variety of essential insurance services to the reinsurance company, including: Providing expertise in the areas of insurance, risk management, and underwriting expertise to the reinsurer Hiring an independent actuary to review risks and exposure and to establish appropriate levels of premiums Developing business plans and [...]