About

About

OUR MISSION: Central States Health & Life Co. of Omaha exists to help people enhance their lives by offering quality products and services, thereby assisting people in minimizing their financial risks.

In pursuit of this mission, CSO strives to:

  • Maintain a strong financial base and be governed by its trustee obligations.
  • Maintain a reasonable diversity of products, targeting areas where CSO is best qualified.
  • Develop a highly skilled and productive group of professionals and create a working environment that supports their personal and career goals.
  • Monitor the changing marketplace and incorporate that change into our products and people.
  • Maintain constructive and informed relationships with regulatory groups.

While in the long term, CSO’s success is measured in dollars, the company exists to serve the needs of its policyholders, client institutions, agents and dedicated personnel.

Motto

In a desire to stress quality in all things and expand on a sound basis, CSO recognizes a theme of “To Care is To Grow” in every business decision. To fulfill this theme, CSO endeavors to:

  • Instill a sense of fair play, equal opportunity and justice in all things.
  • Inspire through the pursuit of professionalism and excellence a liveliness of mind and expression that promotes company loyalty and pride.
  • Encourage the company and its employees to participate in the affairs of their communities, on local, state and national levels, and to make meaningful contributions to professional associations.
  • Encourage people to take responsibility for their own health and to make wellness a way of living a longer, healthier life.

With two desks, two chairs and 100 people each willing to spend $11 on a hospitalization insurance policy T. L. Kizer founded Central States Health & Accident Association of Omaha. It was 1932, right in the middle of the Great Depression. Central States persevered, developing its product and services portfolio and growing its reserve base throughout the decades.

CSO’s history is rich with milestones, some of which include:

  • Celebrating its 25thanniversary in 1957, the year in which it changed its corporate charter and emerged with a new name Central States Health & Life Co. of Omaha (CSO).
  • Forming a subsidiary, Central States Indemnity (CSI) to focus on credit disability and unemployment insurance for bank credit card customers.Ultimately, CSI was purchased by Berkshire Hathaway Inc., strengthening CSO’s ability to compete in the insurance marketplace.
  • Deciding in the late 1990’s to place emphasis on its core business: debt protection. CSO sold its major medical business in 1999 and with the expanded ability of financial institutions to offer debt cancelation products in 2002 it developed an infrastructure enabling the company to support debt cancellation programs and indemnify lenders with contractual liability policies.
  • Establishing a significant credit insurance presence in the automobile dealership marketplace through the successful alliance with several national entities within the dealership industry.
  • Diversifying its product portfolio in 2018 by entering into a business purchase agreement to manage the established Medicare Supplement business of Central States Indemnity (CSI) and by working to file new CSO Medicare Supplement plans.
  • Developing a new dealership customer retention product allowing dealers to provide credit towards a new vehicle purchase when the protected trade-in vehicle has been damaged due to an accident.

CSO has a proud history with many significant milestones incurred along the way.  In 2019, CSO was assigned an A.M. Best Financial Strength credit rating of A- (Excellent)*.  CSO strives to be the provider of choice in the markets it serves with its motto, “To Care is To Grow”the guiding philosophy behind how business is conducted.

*A.M. Best’s Financial Strength Rating is an independent opinion of an insurer’s financial strength and ability to meet ongoing obligations to policyholders. For the latest rating, access www.ambest.com.

T. Edward Kizer (President) and Richard T. Kizer (Chairman)

As grandsons of the company’s founder T.L. Kizer, Dick and Ed Kizer today provide the leadership and oversee the strategic direction of CSO. CSO employs a team of dedicated individuals focused on the needs of the company’s client institutions, agents, customers and policyholders.

About Our Logo

CSO’s logo reflects the appearance of the home office building, which was constructed in 1976. More importantly, it illustrates the company’s mission as a leader in the ever-changing insurance industry. The overall circle encompassing the image enhances the repeated circular motif. The perspective of the image grows from a small pillar to a much larger one and closer in appearance. This perspective exemplifies the idea CSO is a continually growing company, with a vision extending beyond any boundaries.

CSO is a mutually owned insurance company based in Omaha, Nebraska employing a team of dedicated individuals focused on the needs of the company’s client institutions, agents, customers and policyholders. CSO conducts business in every state (except New York), as well as Guam and Saipan. The company strives to be the provider of choice in the markets they serve with its motto, “To Care is To Grow” the guiding philosophy behind how business is done.

A solid history of successful business practice has provided CSO with an exceptionally strong financial base. In 2019, CSO and its subsidiaries, Censtat Life Assurance Company and Censtat Casualty Company, were assigned an A.M. Best Financial Strength credit rating of A- (Excellent)*. Since 2012, CSO has completed annual Service Organization Control (SOC) audits covering the financial, information systems controls and related applications used by CSO for administration of its business partner’s programs.

CSO boasts a strong and proud history. With over 85 years of experience in the business of extending various insurance products, CSO possesses the knowledge and skills required to extend superior service and products to its policyholders and business partners alike.

*A.M. Best’s Financial Strength Rating is an independent opinion of an insurer’s financial strength and ability to meet ongoing obligations to policyholders.  For the latest rating, access www.ambest.com.

CSO has a diversified product portfolio with a common focus to serve its accounts, policyholders and agents with the highest level of service.  CSO’s insurance products include:

CSO underwrites credit life and credit disability insurance; these product offerings are marketed by its business partners consisting of automobile dealerships and financial institutions. CSO is a top provider of credit insurance to the U.S. dealer market.  CSO's extensive nationwide network of sales and training professionals and general agents allow for effective and responsive servicing of accounts.

CSO has a history of issuing Medicare Supplement policies. Although a tactical decision was made in 2004 to discontinue its Medicare Supplement plans, in May 2018, CSO re-entered the Medicare Supplement business through a purchase agreement regarding the established Medicare Supplement business of Central States Indemnity (CSI). CSO assumed the ongoing management of these blocks of policies in force, and in March 2019, launched its own Medicare Supplement plans in several states. CSO looks to grow its base of states offering Medicare Supplement policies as well as bring additional senior oriented products to market and expand the opportunities for the agents which represent them

Dealerships have the ability to provide incentives to customers wanting to trade their vehicle for a new one.  Recognizing that in the event of an accident, a vehicle’s trade-in value may not be as much as expected, CSO and its subsidiary, Censtat Casualty Company, can help dealers design and price a program to provide a trade-in credit towards the customer’s next vehicle purchase.  Censtat Casualty Company can provide indemnification, by way of a contractual liability policy, to the dealer for the risks related to diminished value of the vehicle due to an accident.

Lenders have the ability to cancel the debt of their borrowers when certain events occur. CSO and its subsidiary companies will help lenders design and price debt cancellation programs structured to forgive debt due to the death, disability, or involuntary unemployment of the borrower. By issuing a contractual liability policy, CSO’s subsidiary company Censtat Casualty Company, can provide indemnification to the lender for risks related to the cancellation of the debt.

A solid history of successful business practice has provided CSO with an exceptionally strong financial base. To review the recent Statement of Operations, including a GAAP Financial Summary, CLICK HERE.

In 2019, CSO and its subsidiaries, Censtat Life Assurance Company and Censtat Casualty Company, were assigned an A.M. Best Financial Strength credit rating of A- (Excellent)*.

*A.M. Best's Financial Strength Rating is an independent opinion of an insurer's financial strength and ability to meet ongoing obligations to policyholders.  For the latest rating, access www.ambest.com.

Central States Health & Life Co. of Omaha is a Nebraska mutual health and life insurance company and parent to the following subsidiary companies:

  • CENSTAT Life Assurance Co., an Arizona stock reinsurance corporation
  • CENSTAT Casualty Company, a Nebraska stock property and casualty insurance company
  • CENSTAT Services, Inc., a Nebraska stock corporation operating as broker and agency
  • CENSTAT Financial, Inc., a Nebraska stock corporation
  • CENSTAT Reinsurance Company, LTD, a Turks and Caicos Island Corporation operating as a reinsurer