Why Post-COVID-19 Operations at a Small Life Insurer Look OK: Idea File
April 22, 2020 by Allison Bell
State insurance regulators and auditors have made the managers of Investors Heritage Life Insurance Company prepare for many different economic scenarios and catastrophic mortality scenarios that didn’t look much like the new COVID-19 pandemic world.
The result: The Frankfort, Kentucky-based company was in a good position to adjust for this scenario.
John Frye, the company’s co-president, said in an interview Thursday that, overall, the sudden, dramatic shift in how Investors Heritage operates has gone smoothly, the company has the financial resources it needs to weather the COVID-19 pandemic, and he has no reason to believe his company’s stability is unusual.
“We feel we’re in a pretty good position,” Frye said. “We think the industry is in pretty good shape.”
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