While the surge in returns was not necessarily unexpected, the magnitude of the recovery was a bit surprising.

NEW YORK (PRWEB)
August 27, 2020

Trepp, a leading provider of information analytics and technology to the structured finance, commercial real estate, and banking markets has released the second quarter 2020 returns for its life insurance commercial mortgage index showing a surge in returns.

Instantly download the report here: https://www.trepp.com/instantly-access-q2-2020-returns-report-life-insurance-commercial-mortgage-index

Commercial mortgage investments held by life insurance companies posted a positive 4.58% total return in the second quarter of 2020, a major reversal from the negative 1.00% return realized in the first quarter. The change from Q1 to Q2 was the second largest swing in the past 94 quarters, according to the Trepp LifeComps™ Commercial Mortgage Index.

“While the surge in returns was not necessarily unexpected, the magnitude of the recovery was a bit surprising,” said Russell Hughes, head of data consortia initiatives at Trepp. “The exposure of LifeComps™ mortgages to the two hardest-hit sectors varies, with the exposure to lodging being low, but the retail exposure being material.”

Of the four major property types, multifamily properties performed best over 12 months with a total return of 7.3% followed by industrial at 6.6%, and office at 6.03%.

Income contributed 1.05% and price added 3.52% in the second quarter, with the strong price appreciation being reflective of both decreasing credit concerns and a persistent low-interest-rate environment.

While credit concerns still exist as evidenced by more than 120 loans with payment deferrals and more than $31 million in interest payments being capitalized, decreased credit uncertainty combined with the sustained low-interest-rate environment has resulted in a major rebound of loan valuations. Additionally, specific reserves increased 13%, but delinquencies and charge-offs remain very low, especially given the current market conditions, clocking in at 0.06% and 0.004%, respectively.

There are approximately 7,600 active loans in the LifeComps™ Index with an aggregate principal balance of $148 billion. The weighted average duration is 5.37 and the average reported loan-to-value is 50%.

For more information and to see the full report, click here: https://www.trepp.com/instantly-access-q2-2020-returns-report-life-insurance-commercial-mortgage-index

Contact Trepp at press@trepp.com or 212.754.1010 with any questions.

About LifeComps™

The LifeComps™ Commercial Mortgage Loan Index is the only published benchmark for the private commercial mortgage market based on actual mortgage loan cash flow and performance data which has been collected quarterly from participating life insurance companies since 1966. LifeComps provides a quantifiable investment performance index and serves as a benchmark for privately held commercial real estate mortgages.

Trepp

Trepp, founded in 1979, is the leading provider of information, analytics, and technology to the structured finance, commercial real estate, and banking markets. Trepp provides primary and secondary market participants with the web-based tools and insight they need to increase their operational efficiencies, information transparency, and investment performance. From its offices in New York, San Francisco, and London, Trepp serves its clients with products and services to support trading, research, risk management, surveillance, and portfolio management. Trepp is wholly-owned by Daily Mail and General Trust (DMGT). For more information, visit https://www.Trepp.com.

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As a member of Midlands Choice, United Security’s STMM insureds have access to their preferred provider network that helps make healthcare more affordable

BEDFORD PARK, Ill. (PRWEB)
August 28, 2020

Effective September 1st, in the state of Nebraska, United Security Health and Casualty Insurance Company (United Security) is partnering with Midlands Choice as their preferred provider network. As a result, United Security’s Short Term Major Medical (STMM) policyholders can receive care through one of Midlands Choice’s preferred providers.

Cory Rasmussen, Vice President of Sales and Marketing, United Security shared, “As United Security expands our presence in the state of Nebraska, it was critical that we partner with a preferred provider network that can grow with us and provide our STMM policyholders with a comprehensive choice of healthcare providers that are close to them.”

Midlands Choice is a regional PPO network with a healthcare network of more than 41,360 physicians and other healthcare professionals, 335 hospitals, and 2,322 other healthcare facilities. In the states of Iowa and Nebraska, Midlands Choice is one of the top healthcare networks. By contracting with Midlands Choice, consumers have lower out-of-pocket costs for healthcare services when they use network providers.

“As a member of Midlands Choice, United Security’s STMM insureds have access to their preferred provider network that helps make healthcare more affordable,” Rasmussen concluded.

United Security’s STMM is ideal for individuals and families who: recently lost their job and their job-based health insurance; missed the Open Enrollment period; are a recent college graduate; are a relatively healthy individual; and young adults no longer covered by their parent’s plans. In addition to STMM, United Security offers an expansive list of ancillary products to help their insureds round out their coverage portfolio. For a complete list of ancillary products please visit United Security’s web site at http://www.USHandC.com or ask your local independent insurance agent about United Security.

About United Security Health and Casualty Insurance Company (United Security): United Security is a regional insurer that has been in business since 1973, licensed to sell products in Arizona, Arkansas, Illinois, Indiana, Georgia, Missouri, Nebraska, Oklahoma and Texas. United Security specializes in providing individuals and families a variety of products and plan choices to meet their individual needs. United Security’s primary focus has been, and continues to be, providing quality products and excellent service to our policyholders. United Security’s product portfolio includes: Short Term Major Medical, Dental Plus Vision and Hearing, Cancer, Critical Illness, Accident Hospital Indemnity, Disability Income, Fixed Indemnity and Personal Auto products. United Security is headquartered in Bedford Park at 6640 S. Cicero Avenue, Bedford Park, IL, 800-875-4422 or 708-475-6100, http://www.USHandC.com.

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As a member of Midlands Choice, FCIC’s STMM insureds have access to their preferred provider network that helps make healthcare more affordable

BEDFORD PARK, Ill. (PRWEB)
August 28, 2020

Effective September 1st, in the state of Iowa, First Chicago Insurance Company (FCIC) is partnering with Midlands Choice as their preferred provider network. As a result, FCIC’s Short Term Major Medical (STMM) policyholders can receive care through one of Midlands Choice’s preferred providers.

Cory Rasmussen, Vice President of Sales and Marketing, FCIC shared, “As FCIC expands our presence in the state of Iowa, it was critical that we partner with a preferred provider network that can grow with us and provide our STMM policyholders with a comprehensive choice of healthcare providers that are close to them.”

Midlands Choice is a regional PPO network with a healthcare network of more than 41,360 physicians and other healthcare professionals, 335 hospitals, and 2,322 other healthcare facilities. In the states of Iowa and Nebraska, Midlands Choice is one of the top healthcare networks. By contracting with Midlands Choice, consumers have lower out-of-pocket costs for healthcare services when they use network providers.

“As a member of Midlands Choice, FCIC’s STMM insureds have access to their preferred provider network that helps make healthcare more affordable,” Rasmussen concluded.

FCIC’s STMM is ideal for individuals and families who: recently lost their job and their job-based health insurance; missed the Open Enrollment period; are a recent college graduate; are a relatively healthy individual; and young adults no longer covered by their parent’s plans. In addition to STMM, FCIC offers an expansive list of ancillary products to help their insureds round out their coverage portfolio. Please visit FCIC’s web site at http://www.FirstChicagoInsurance.com or ask your local independent insurance agent about FCIC.

About First Chicago Insurance Company

First Chicago Insurance Company (First Chicago), whose roots trace back to 1920, is celebrating their 100th anniversary. Over this timespan, First Chicago has evolved into a multi-line insurance carrier, now offering Personal & Commercial Auto, General Liability, Workers’ Compensation, Short Term Major Medical and Personal Accident Medical Insurance in response to the needs of the company’s independent produces and customer base. In personal lines, First Chicago has further responded to the changing exposures and needs of their independent producers by adding niche insurance products such as Contents Plus Renters and Transportation Network Coverage to enhance their personal lines auto offerings. First Chicago currently offers insurance via independent agencies and online throughout Illinois, Indiana, Iowa, Kansas, Louisiana, Missouri, Pennsylvania, and Wisconsin. Headquartered in Bedford Park, First Chicago is located at 6640 S. Cicero Avenue, Bedford Park, IL, 60638, 888-262-8864. http://www.FirstChicagoInsurance.com

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Lisa’s expertise in tax matters and employee benefit compliance management – two extraordinarily complicated topics – will help shape the federal government’s regulations and rulings going forward.

DEERFIELD, Ill. (PRWEB)
August 27, 2020

Lisa Allen, Senior Compliance Consultant at Alera Group, has been named to the U.S. Department of Labor’s ERISA Advisory Council in the Insurance category. Her appointment is effective immediately and concludes December 31, 2022.

The ERISA Advisory Council is a federal advisory committee and subject to the Federal Advisory Committee Act (FACA). The Department of Labor cited Allen’s depth and breadth of experience with ERISA as the reason she was selected.

“Lisa’s expertise in tax matters and employee benefit compliance management – two extraordinarily complicated topics – will help shape the federal government’s regulations and rulings going forward,” says Danielle Capilla, Vice President of Compliance, Employee Benefits at Alera Group.

“When the U.S. Department of Labor needed one expert to represent the entire insurance industry, they intentionally invited an Alera Group compliance expert. We are proud that our people and our company are making a significant and noteworthy difference in compliance for employers everywhere,” said Sally Prather, Executive Vice President and Employee Benefits Practice Leader at Alera Group.

Allen – whose credentials include CAPPP, CHRS, CFC, and CAS and who earned the Certificate of Achievement in Public Plan Policy (CAPPP) through the International Foundation of Employee Benefit Plans (IFEBP) – also serves on the IRS Advisory Council’s Tax Exempt and Government Entities (ACT) Sub-Committee.

Allen brings more than 25 years of employee benefits experience to her role as Alera Group’s legal and regulatory compliance subject matter expert. She manages regulatory updates and client council regarding ERISA, Section 125, the Affordable Care Act, and employee eligibility.

Allen is a frequent speaker for the WNY National Association of Health Underwriters (NAHU), New York State Society for Human Resource Management (SHRM), several area Chambers of Commerce, NAHU, Benefit Advisors Network, (BAN), Employer Council on Flexible Compensation (ECFC), and the International Foundation of Employee Benefits Plans (IFEBP), and the National Assocation of Professional Women, among others.

About Alera Group

With over 80 locations across the country and more than 2,000 teammates, Alera Group works together to deliver solutions in employee benefits, property and casualty, retirement services and wealth management. Built on a unique model of collaboration, Alera Group is now the 17th largest independent insurance agency in the United States. For more information, visit http://www.aleragroup.com.

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Recovering from a hurricane can be very difficult and we want all of our Texas customers to know that the Mercury claims team is ready to help.

LOS ANGELES (PRWEB)
August 27, 2020

Mercury Insurance policyholders who have been impacted by Hurricane Laura can report damages and losses through Mercury’s claims hotline at (800) 503-3724. The hurricane strengthened into a Category 4 storm as it reached land, along the Texas and Louisiana border, and more than half a million people have been ordered to evacuate.

“Recovering from a hurricane can be very difficult and we want all of our Texas customers to know that the Mercury claims team is ready to help,” says Christopher O’Rourke, Mercury’s vice president of property claims. “We urge residents returning to storm-damaged homes to take the necessary precautions to protect their family and pets, and use extra care when traveling through flooded areas.”

Mercury claims adjusters will assess wind and rain damage, but homeowners seeking coverage from flood and debris flows should review the National Flood Insurance Program.

Mercury representatives are available to help address covered claims while following social distancing procedures. Representatives are also available to arrange temporary housing and provide assistance with living expenses if policyholders are forced to leave their homes in response to mandatory evacuation orders arising out of a covered event.

If a claim needs to be filed, O’Rourke advises policyholders follow a few simple procedures to help speed up the process.

When filing a claim

• Contact Mercury immediately to report your loss.
• Be prepared to provide your policy number.
• Do not remove debris or damaged property that may be related to your claim.

Steps after filing a claim

• Prepare a detailed inventory of destroyed or damaged property.
• Offer photos or videos of your home and possessions to your adjuster, if these are available.
• Keep copies of communications between you and your adjuster.
• Keep records and receipts for additional living expenses that were incurred if you were forced to leave your home, and provide copies to your adjuster.

Mercury Insurance encourages customers to review their homeowners and auto insurance policies with their local agents on a yearly basis to make sure they have the coverage they need.

About Mercury Insurance

Mercury Insurance (MCY) is a multiple-line insurance organization predominantly offering personal automobile, homeowners and commercial insurance through a network of independent agents in Arizona, California, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia. Since 1962, Mercury has specialized in offering quality insurance at affordable prices. For more information visit http://www.mercuryinsurance.com or Facebook and follow the company on Twitter.

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