At Exceptional Risk Advisors, we are thinking of our friends, family and partners across the world as we are impacted by COVID-19 and its dramatic impact it has on every single one of us.  This does not mean your business activities need to come to an end.  We have developed three ways to keep your insurance practice going during a pandemic like COVID-19. 

First, we have created a few adaptations on how to streamline underwriting given the current challenges in obtaining medical and paramedic exams.  In this present environment, we are temporarily adapting our Underwriting criteria so new business can still be written without an exam requirement.  Here you'll find new Underwriting Parameters outlining some alternative approaches to obtaining an insurance exam.

Second, short term life insurance solutions such as Contractual Performance Indemnity can bridge the insurance gap until domestic coverage can be issued.  We recently placed a policy for an entrepreneur in the middle of launching a new company.  The entrepreneur had an urgent need for life protection to secure a $2 million loan from the bank. The bank would take a $2 million loss if the he should die before attaining traditional life insurance. Check out the case study to read about the insurance solution that was developed.  It should be noted that COVID-19 was excluded from this case, but still satisfied the lender's requirements to close the deal.

Finally, if you are working with groups of highly compensated individuals, pivoting to a Guaranteed Standard Issue (GSI) solution solves the challenge of individual underwriting.  A typical GSI application asks 1) if the employee is actively at work and 2) has the employee been hospitalized in the last 12 months?  Here are some of the frequently asked questions on how a GSI program works.