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Indiana Life Insurance CEO says mortality rates for people aged 18-64 have increased by

(Center Square) – The head of Indianapolis-based insurance company One America said mortality rates have risen by a surprising 40% from pre-pandemic levels for people of working age.

“Currently, it has the highest mortality rate in the history of the business, not just One America,” Scott Davison, CEO of the company, said in an online press conference this week. “Data is consistent for all players in the business.”

OneAmerica is a $ 100 billion insurance company headquartered in Indianapolis since 1877. The company employs approximately 2,400 people and sells life insurance, including group life insurance, to employers in the state.

According to Davison, the increase in deaths is a “huge number,” and it’s not the elderly who are dying, but “mainly 18” employees of companies that have group life insurance through One America. People of working age between the ages of 64 and 64. “

“And what we saw in the third quarter is that it lasts until the fourth quarter. Mortality is 40% higher than the pre-pandemic mortality rate,” he said.

“It just gives you the idea of ​​how bad it is, that is, a catastrophe of 3 sigma or once every 200 years will increase by 10% compared to before the pandemic,” he said. “That is, 40% is unheard of.”

Davison was one of several business leaders to speak at a virtual press conference on December 30th hosted by the Indian Chamber of Commerce.

Most of the death claims submitted are not classified as COVID-19 deaths, according to Davison.

“The data show that deaths reported as COVID deaths significantly underestimate the actual mortality loss of people of working-age due to pandemics, all on the death certificate. The death toll is very high, though not always. “

At the same time, the company said that short-term disability claims were initially increasing, but now long-term disability claims are increasing, and that disability claims are “increasing.”

“For One America, this cost is expected to be well over $ 100 million, which is our smallest business, so it has a huge impact on it,” he said.

He said the costs would be passed on to the employer who buys group life insurance, and the employer would have to pay a higher premium.

The CDC’s weekly deaths reflect information from the death certificate, so there is a delay of up to eight weeks or more, and in the week leading up to November 6, the number of deaths from COVID-19 in Indiana was high. One year ago – verse 195 336 – but there were many deaths from other causes – 1,350 vs. 1,319.

While these deaths were targeted at people of all ages, the information referenced by Davison was targeted at working-age people who were employees of companies with group life insurance policies.

At the same press conference spoken by Davison, Brian Tabor, chairman of the Indiana Hospital Association, said hospitals across the state were flooded with “many different states” of patients, “unfortunately for the average Hoosiers. Health is a pandemic. “

On a follow-up phone call, he said there was no breakdown of what condition or illness so many people in the state were hospitalized for. But he said the very high mortality rate quoted by Davison is consistent with what hospitals in the state are seeing.

“What I’ve confirmed is that what I’m seeing at the front end was boring …” he said.

Dr. Lindsay Weaver, Indiana’s Chief Medical Officer, said hospitalizations in the state were higher than they were before the COVID-19 vaccine was introduced a year ago, and in fact more than in the last five years. .. Press conference with Governor Eric Holcomb on Wednesday.

Only 8.9% of ICU beds are available in hospitals in the state, the lowest of the year and the lowest at any point during the pandemic. However, the majority of ICU beds are not occupied by COVID-19 patients. Although only 37% is occupied, 54% of ICU beds are occupied by people with other illnesses and conditions.

The state’s online dashboard shows that the moving average of daily deaths from COVID-19 is less than half that of a year ago. At the peak of the pandemic a year ago, 125 people died on December 29, 2020. In the last three months, the highest number of deaths per day was 58 on December 13.

Indiana Life Insurance CEO says mortality rates for people aged 18-64 have increased by

Source link Indiana Life Insurance CEO says mortality rates for people aged 18-64 have increased by

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