This article was derived from Mr. Thompson's presentation at the Fifth Annual Target Markets Program Administrators Summit, which was held in October in Tempe, Ariz.)
WORDS mean things–especially when it comes to contracts. That's why it's essential that program administrators give more than cursory attention to their contracts with insurance companies. Depending on how a contract is worded, it can pave the way for a mutual profitable experience, or it can leave the program administrator more or less at the mercy of the carrier.
Contracts between carriers and program administrators contain a host of conditions and terms. In this article, I'll discuss a number of them and provide suggestions for negotiating a contract that will be an asset to your program.
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