We put forth the most cost effective options for our medical, prescription drug, dental and vision plans

FAQs

Cone Insurance Group, LLC

Q: What is the role of an insurance broker?

A: A broker is a person or firm that has permission to seek insurance quotations for an insured (client) or prospective client. A broker is not an insurance company employee. As a representative for the insured, brokers will approach several insurance companies in an attempt provide quotations and coverage to adequately insure the client's exposures. The broker will ascertain the client's needs, gather information and submit the information to several insurance companies. Brokers do not have the authority to bind coverage. They present the information and if the insurance company agrees, the insurance company will bind the coverage.

Q: For a broker, whose interest comes first, the client or the insurance company?

A: Insurance brokerage firms play a key role in business development. They act as intermediary between insurer and client, helping to assess the client's business and risk profile, and accordingly suggesting appropriate coverage. They also act to convince the insurer to assume the risk involved in underwriting particular policies. Although insurance brokerage firms draw their commissions from insurers, a firm's top priority is to see to the client's interests.

Q: What is the difference between Cone Insurance Group and the Third Party Administrator (TPA)?

A: CIG handles the plan brokerage services and customer support as it relates to escalated issues within each group plan. The TPA handles enrollment, eligibility, premium collection, and some claims issues and serves as the primary call center for member related questions.

Q: Do you work with more than one vendor for any given group plan?

A: Yes; we put forth the most cost effective options for our medical, prescription drug, dental and vision plans. The vendors may vary within the plans.