Great American Insurance Group Launches Program to Insure Child and Spousal Support During Qualifying Periods of Unemployment
CINCINNATI – March 23, 2017 – Great American Insurance Group is pleased to announce that IncomeAssure®, its supplemental unemployment insurance program, is the product of choice for the Marital Settlement Agreement Insurance Program (MSAI). MSAI was developed by Richard S. Zizian, JD to insure divorce obligations under a court-ordered marital settlement agreement.
With MSAI, family law attorneys can arrange insurance that covers the payments of child and spousal support on behalf of an obligated party for up to 24 weeks per year during qualifying periods of unemployment. The coverage is designed to renew annually for the term of the marital settlement agreement, subject to the terms and conditions in the policy. Policy benefits are paid directly to the party receiving child and spousal support payments. Coverage is underwritten and rated on behalf of the obligated party.
According to Zizian, “In the United States, approximately 3,300 divorces occur each day, which totals nearly 1.2 million divorces per year. Despite the good intentions of divorced parties to meet their court-ordered legal obligations, short-term, critical period financial shortfalls may arise when unemployment occurs. These situations can disrupt an obligated party’s ability to meet scheduled payments. When an obligated party becomes unemployed, non-payment of court ordered payments creates both financial and legal challenges.”
Lyle Clem, Product Manager at Great American Insurance Group’s Unemployment Risk Solutions, states, “We’re pleased to work with Richard Zizian to develop the MSAI Program. MSAI aligns with our commitment to protecting unemployment risk by helping divorced parties financially bridge any potential unemployment issues.”
The MSAI Program will be marketed nationally by the Zizian Agency, and is available in all states except Alaska and Hawaii. MSAI Program brochures, answers to frequently asked questions, sample policy forms, underwriting criteria and attorney resource manuals can be obtained at maritalsettlementinsurance.com. Attorneys may receive MSAI Program information by emailing email@example.com or by calling 619-236-0569.
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 100 years (most recent rating evaluation of “A+” (Superior) affirmed May 12, 2016). The members of the Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.
Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and DC. Coverage is summarized. Refer to the actual policy for a full description of applicable terms, conditions, limits and exclusions. Great American Insurance Group, 301 E. Fourth St., Cincinnati, OH 45202.
SterlingRisk is one of the nation’s top 25 privately held insurance brokers and adheres to the highest standards of professionalism and client service. It has earned the AICPA Service Organization Control Reports® prestigious SSAE 16 compliance ratings and is working toward the SSAE 16 certification. SterlingRisk also has been awarded the Best Practice Designation by The Target Markets Program Administrators Association (TMPAA) after completing an evaluation process developed by the Target Markets Board of Directors in consultation with the Association’s Carrier Partners. In addition, they are a member of the Better Business Bureau.
About the Zizian Agency:
Richard S. Zizian JD has 49 years of experience in the insurance and risk management industries. He is nationally and internationally recognized for developing unique, first-of-a-kind, insurance and risk management solutions in a wide variety of industries, including consumer protection, manufacturing, solar, wind, sanitation, security, power transmission and warranty solutions. Mr. Zizian will spearhead the marketing of the MSAI Program.
Great American Insurance Group
Diane P. Weidner, 513-369-5713