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Transamerica- Important Underwriting Update

Posted by LTCI Partners | Feb 4, 2020 11:33:16 AM
Coronavirus moratorium in effect
 
 
Transamerica
IMPORTANT ANNOUNCEMENT CONCERNING CORONAVIRUS
UNDERWRITING MORATORIUM EFFECTIVE JANUARY 28, 2020
We understand our customers rely on the protection we've committed to providing during a time in their lives that is often the most difficult — following the loss of a loved one. The customer always comes first. We use this belief as our guide when making difficult decisions that may impact your business.
Effective January 28, 2020, Transamerica has adjusted the underwriting guidelines for all pending and new business by instituting a moratorium on applications for proposed insureds who travel to or from China or Hong Kong, or are still physically present in those locations, while the Coronavirus remains active. Any cases received for underwriting during the initial 30-day moratorium will be declined.
The World Health Organization has declared a health emergency because of the virus and, depending on future developments and its severity, we may need to adjust our guidelines again. The initial 30-day period may be expanded in response to changing circumstances.
We are committed to returning to our normal underwriting guidelines as soon as is prudent. Transamerica complies with all state regulation regarding underwriting of insurance policies.
If you have questions about a specific case, please contact the assigned underwriter. For general questions please direct inquiries to our International Underwriting mailbox, international@transamerica.com, and we will respond as promptly as possible.
Sincerely,
Bill Wysong, Transamerica
Chief Underwriter

Christopher Guerin, Transamerica
Director, International Underwriting
 
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4333 Edgewood Rd. NE, Cedar Rapids, IA 52499, US

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© 2020 Transamerica
01/20
                                                           

Topics: Underwriting, Transamerica

Written by LTCI Partners

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