Industry Survey Insights: The Impact of Tobacco, Alcohol, and Drug Use on Anti-Selection
A recently commissioned study by Hank George, Inc. surveyed 110 direct-writing U.S. and Canadian life insurance carriers on fully underwritten businesses. The survey covered a variety of tobacco, alcohol, and drug use topics*. ExamOne asked consultant and former risk management director at Allstate Financial, Eric Hjerpe, to outline and expand upon some of the findings and trends he extracted from the survey results.
Tobacco and Alcohol Underwriting in North America
We recently completed a survey of US and Canadian life insurers asking about underwriting practices and perceptions related to assessing tobacco/nicotine, alcohol and drug use. Over 100 carriers participated.
Presentations from the 2016 SEHOUA Meeting
Slides from the 2016 SEHOUA Meeting have been posted. They include:
- Betsy Sears – “Young Kids, Old Bodies”
- Dr. Stout – “Drugs and Alcohol – The Landscape”
- Dr. Titcomb - “Red Cell Distribution Width (RDW): An Underappreciated Marker for Increased Mortality
- Mike Clift – “Motor Vehicle Reports and Driving Criticism Trends, Technology and Terminology”
- Dr. Greene - "Prostate Cancer: A Decade of Change"
- Dr. Dave Rengachary - “Advances in Multiple Sclerosis”
- Dr. Rooney – Genetics: A Discussion of How our Genes Impact Mortality”
- Ron Schaber, Philip R. Murphy and Greg Brandner - “Big Data Today and Tomorrow – the drive toward fully underwritten pricing”
“One Bourbon, One Scotch, One Beer”; Changing Recommendations on Safe Levels of Alcohol
Increasing concerns over morbidity and mortality rates from alcohol use, and the cost to the NHS of treating associated problems, has led the UK Chief Medical Officer to propose new guidelines to minimize health and accident risks. The take home message is that there is no longer a “safe” level of alcohol – the implication being that anyone who discloses drinking any alcohol is at risk. Does this mean those who drink alcohol should be treated differently by insurers?