Eastbridge: 33% of Companies Say State Laws for Multi-State Groups Hurt Sales

AVON, Conn.–(BUSINESS WIRE)– Carriers often ask how others in the voluntary market handle multi-state accounts. This was the subject of the most recent Eastbridge Frontline Report, Situs State Regulation Practices of Voluntary Carriers.

The survey found that a third of carriers feel that their company’s current multi-states practices hurt sales. While most companies try to use the employer situs state to govern the issuance of coverage, the survey showed that product differences, platform differences, and differences in the impact of extraterritorial regulations in various states make managing multi-state accounts (or those accounts on the border of more than one state) a big challenge.

And, according to the survey respondents, this is not getting any easier. Almost four in ten said that their company is more conservative today in this matter than they were in the past. Fifty-two (52) percent said that situs state practices are a common topic of conversation in their organization.

Situs State Regulation Practices of Voluntary Carriers is an Eastbridge Frontline Report. Frontline Reports provide timely data on hot or new topics. Copies of the report are only available to participants and Eastbridge Information Partners.

Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada.

Eastbridge Consulting Group, Inc. Jennifer Davis, 860-676-9633

Source: Eastbridge Consulting Group, Inc.