Penn National has launched a new tool for their customers. This mobile app is built for Android and iPhone and allows customers to file a claim, make a payment, find repair shops and
towing companies and more.
To find out more information on this app and signup to use it click here.
Tuesday, December 10, 2013
Monday, November 25, 2013
Canned Food Drive
For the second year IFS is doing our canned food drive to help the Sunday Breakfast Mission with their great work. IFS is matching pound for pound all the food donated for our canned food
drive. So far, donations are a bit sparse but there is still time! Bring in your donations and IFS will match in weight your donation. Make your generosity go twice as far by dropping off here before noon tomorrow!
Last year we filled the back of a pickup truck!
Last year we filled the back of a pickup truck!
Monday, January 14, 2013
Named as High Achiever Agency by Travelers
PRESS RELEASE
For Immediate Release
January 11, 2013
Local
Insurance Agency Employees Recognized by Travelers
Wilmington, DE, 1/11/12 – Staff members of Insurance and Financial Services, LTD of
Delaware (IFS) were among a select group of employees at local
independent insurance agencies to be recognized as personal insurance High
Achievers by Travelers.
The Travelers High Achiever award is designed to
recognize insurance agency employees who display superior levels of customer
service, demonstrate leadership skills, encourage teamwork among their peers
and contribute to the overall success of their agencies.
Cheryl Woodruff, Assistant Vice President said, “Our team members are outstanding
performers who contribute every day to the success of our agency and to the
high level of personalized service we provide for our customers. We’re proud that our employees have been
recognized by Travelers and we appreciate their contributions to this agency.”
Consumers seeking information about insurance
coverage for themselves and their families may contact Insurance and Financial
Services LTD of Delaware
at 302-239-2355. Insurance and Financial
Services LTD of Delaware
offers a full range of insurance services, including Personal Insurance,
Commercial Insurance, Bonds and Employee Benefits.
Tuesday, December 4, 2012
Holiday Luncheon
We would like to wish you and yours a happy and safe holiday season. Our office will be closing at 11:30 on Friday December 14th for our annual holiday luncheon. We will resume normal business hours, 8:00 a.m. to 5:00 p.m., on Monday December 17th.
Monday, November 12, 2012
Holiday Canned Food Drive
IFS is matching pound for pound all the food donated for our canned food drive. So far, donations are at 52 pounds. So IFS will be donating 104 pounds of food to Sunday Breakfast Mission.
Haven't donated yet? Don't worry. We are taking the donations over this Thursday. Bring your donations and we will match it!
Monday, October 29, 2012
Claims phone numbers
The following numbers are the direct reporting numbers for many of our carriers. In the event of a claim you may report directly to your carrier. If you need further assistance you may always call us 302.239.2355
DIRECT REPORTING NUMBERS
Chubb Personal Lines 800-252-4670
CNA Commercial Lines 877-262-2727
Encompass 800-936-4203
Donegal Mutual 800-877-9006
Guard 888-639-2567
Harleysville Mutual 800-892-8877
Liberty Mutual P/L 800-225-2467
Liberty Mutual Commercial 800-362-0000
Lititz Mutual 855-725-5642
Montgomery Mutual 800-561-0178
Ohio Casualty 800-366-6446
Pennsylvania National 800-766-2245
Progressive Insurance 800-925-2886
Scottsdale Insurance 800-423-7675
St.Paul/Travelers 800-787-2851
Travelers/Personal lines 800-252-4633
Zurich American 800-987-3373
Wednesday, March 30, 2011
Is it time to consider self-funding your health insurance?
Register here for a free seminar on Self-Funded Medical Insurance.
Aon Hewitt projected that in 2011 that health insurance increases will be at their highest in five years. I hear it every month at renewal time, "Steve, I am tired of paying all of this money every month to a health insurance company. What other options do you have for me ?" Well for starters - let's take a look a at previous post of mine that details a bunch of strategies an employer should consider to help control their costs. One of these options was self funding.
I know, I can hear you already - " Our business is too small to self insure our health insurance." perhaps that is the case but a recent survey by the Kaiser Family Foundation shows that 16% of companies with less than 200 employees are self funded - this is up from 10% back in 2003. In fact the same survey indicates that 59% of covered workers are in a self funded plan. I think part of this increasing trend may have to do with employers looking to avoid some of the anticipated expenses associated with health care reform requirements in the Patient Protection and Affordable Care Act.
What exactly is self insurance ? Quite simply a self-insured or self-funded health insurance plan is when the employer pays for each claim as they are incurred instead of paying a fixed monthly premium to an insurance carrier every month.
Self-funding has the potential to reduce costs, avoid state mandated benefits, give employers more control, offer plan design flexibility, provide detailed claim information and even improve your cash flow. Sign you up you say ? Not so fast.
There are potential disadvantages too - the biggest being you, the employer, are assuming a much greater risk. A few large, unexpected medical claims show up and you better be sure your company has the financial resources to meet the cost of them. Or you better have some built in protection - see "reinsurance" below.
Perhaps you are a little intrigued by the concept but still aren't sure how it actually works. In general terms, self-funding contains three parts:
1) Employer pays medical and prescription claims - as mentioned above, you take on the risk - not the insurance company....up to a point (in most cases).
2) Reinsurance (or stop-loss) - most employers will pay a premium to a reinsurance company to pay for claims that go over a certain level. This level is set on a per person basis - for example $100,000 max payout per person - after that the employer is not responsible for anymore claims that year for that person and the reinsurer takes over. In addition, you can purchase reinsurance on an aggregate basis to establish a cap on the total dollars you are willing to pay out - such as $1 million dollars.
3) Third Party Administrator (TPA) - Who is going to administer all of this ? You pay a fee to a TPA to handle things like produce enrollment materials, adjudicating claims, paying doctors (with your money) and preparing reports.
According to report from the Employee Benefits Research Institute in 2007 there were "73 million American workers and dependents covered by a self insured health plan." Does that mean it is right for you ? If you have less than 50 employees then probably not (but you can talk to me about Health Reimbursement Arrangements instead). If you are a mid size employer then you may want to consider it. In fact, sign up to learn more at an upcoming seminar we are having here at IFS. Register here for this free seminar.
See you then!
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
Aon Hewitt projected that in 2011 that health insurance increases will be at their highest in five years. I hear it every month at renewal time, "Steve, I am tired of paying all of this money every month to a health insurance company. What other options do you have for me ?" Well for starters - let's take a look a at previous post of mine that details a bunch of strategies an employer should consider to help control their costs. One of these options was self funding.
I know, I can hear you already - " Our business is too small to self insure our health insurance." perhaps that is the case but a recent survey by the Kaiser Family Foundation shows that 16% of companies with less than 200 employees are self funded - this is up from 10% back in 2003. In fact the same survey indicates that 59% of covered workers are in a self funded plan. I think part of this increasing trend may have to do with employers looking to avoid some of the anticipated expenses associated with health care reform requirements in the Patient Protection and Affordable Care Act.
What exactly is self insurance ? Quite simply a self-insured or self-funded health insurance plan is when the employer pays for each claim as they are incurred instead of paying a fixed monthly premium to an insurance carrier every month.
Self-funding has the potential to reduce costs, avoid state mandated benefits, give employers more control, offer plan design flexibility, provide detailed claim information and even improve your cash flow. Sign you up you say ? Not so fast.
There are potential disadvantages too - the biggest being you, the employer, are assuming a much greater risk. A few large, unexpected medical claims show up and you better be sure your company has the financial resources to meet the cost of them. Or you better have some built in protection - see "reinsurance" below.
Perhaps you are a little intrigued by the concept but still aren't sure how it actually works. In general terms, self-funding contains three parts:
1) Employer pays medical and prescription claims - as mentioned above, you take on the risk - not the insurance company....up to a point (in most cases).
2) Reinsurance (or stop-loss) - most employers will pay a premium to a reinsurance company to pay for claims that go over a certain level. This level is set on a per person basis - for example $100,000 max payout per person - after that the employer is not responsible for anymore claims that year for that person and the reinsurer takes over. In addition, you can purchase reinsurance on an aggregate basis to establish a cap on the total dollars you are willing to pay out - such as $1 million dollars.
3) Third Party Administrator (TPA) - Who is going to administer all of this ? You pay a fee to a TPA to handle things like produce enrollment materials, adjudicating claims, paying doctors (with your money) and preparing reports.
According to report from the Employee Benefits Research Institute in 2007 there were "73 million American workers and dependents covered by a self insured health plan." Does that mean it is right for you ? If you have less than 50 employees then probably not (but you can talk to me about Health Reimbursement Arrangements instead). If you are a mid size employer then you may want to consider it. In fact, sign up to learn more at an upcoming seminar we are having here at IFS. Register here for this free seminar.
See you then!
Steve Blewitt, GBA Vice President of IFS Benefits Steve is licensed in Life and Health in many states. Steve is actively involved in the National Association of Health Underwriters, National Association of Insurance and Financial Advisors, Delaware Society of Human Resource Management, Associated Builders and Contractors of Delaware, Delaware Contractors Association, Delaware State Chamber of Commerce, and New Castle County Chamber of Commerce.
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