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Flexible Premium Deferred Annuity
A type of Annuity contract frequently used for individual retirement accounts that allows varying premium payments from year to year.
Insurance Industry News from ProgramBusiness.comName Change Approved
“Effective March 12, 2007 the name of our admitted insurance company changed in California from Omaha Property and Casualty Insurance Company to Beazley Insurance Company, Inc. We now have this name change approved in every state.”
The name change approval will have the following impact on our California business:
For coverage incepting on or after March 12, 2007:
· We began issuing quotes in the name of Beazley Insurance Company, Inc.
· We began issuing binders in the name of Beazley Insurance Company, Inc. If we issued a binder in the name of Omaha Property and Casualty Insurance Company, we will issue the policy under Beazley Insurance Company, Inc.
· We are issuing policies in the name of Beazley Insurance Company, Inc.
For coverage incepting before March 12, 2007:
· We will be endorsing all in force California policies to reflect the name change to Beazley Insurance Company, Inc.
What does this mean for you?
You can now refer to our Company as Beazley Insurance Company, Inc. in California. We anticipate that this will facilitate your ability to do business with us.
Because we will need to issue mid-term endorsements reflecting our name change, you will see correspondence from us on your in force accounts.
If your customers have any questions about the name change you can assure them that their insurance company remains the same, and only the name has changed.Click for the whole story...