What is assignment of benefits, and how does it impact insurers?

Assignment of benefits, widely referred to as AOB, is a contractual agreement signed by a policyholder, which enables a third party to file an insurance claim, make repair decisions, and directly bill an insurer on the policyholder’s behalf. The Insurance Information Institute (III) describes AOB as “an efficient and customer-friendly way to settle claims.” Having a problem … Read more

Top 10 health insurance companies in the US

The 10 largest health insurance companies in the US control nearly 57% of the market, underwriting $821.5 billion worth of premiums in the past year. These figures are from the latest market share data from the National Association of Insurance Commissioners (NAIC). In this article, Insurance Business takes a closer look at these industry giants. … Read more