Are there certain criteria that need to be met before a policy receives the AAHA Seal of Acceptance?
The AAHA Seal of Acceptance can be awarded to pet insurance policies with high levels of deductibles of at least $500. Additional and higher deductibles are encouraged, assuming they meet the criteria for the $500 deductible policy. Coverage, benefits and exclusions for the higher deductible policies must be at least equal to other policies offered by the company. Marketing, sales and promotional materials must include the availability of the $500 deductible (or higher) policy option and may not steer pet owners away from these options. The seal may not be used on any materials that do not include the availability of high-deductible policies. Pet health insurance policies of the company must be underwritten by companies with an AM Best rating (an independent third-party evaluation that subjects all insurers to the same rigorous criteria) of B+ or better. The company using the seal must be licensed to sell the high-deductible policies in all of the states or provinces in which it is lic
Related Questions
- Assuming all other revenue recognition criteria are met (other than the issues raised with respect to the acceptance provision), when should Company A recognize revenue on this transaction?
- Are there certain criteria that need to be met before a policy receives the AAHA Seal of Acceptance?
- Is the AAHA Seal of Acceptance exclusive to a certain pet insurance company?