iPolicy - Issue 2 - July 2014

iPOLICY POWERED BY IPMI MAGAZINE | JULY2014

PAUL EVANS TO BE NEXT CHAIRMAN OF THE ABI FRONT COVER: MR. PAUL EVANS, GROUP CHIEF EXECUTIVE, AXA UK PLC

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

FEATURED CONTENT W

ELCOME TO THE 2ND EDITION OF IPMI MAGAZINES MEDICAL INSURANCE BROKER AND INTERMEDIARY EZINE, IPOLICY. ROUNDING UP THE LAST QUARTERS MOST IMPORTANT INTERNATIONAL MEDICAL AND HEALTH INSURANCE PLAN AND PRODUCT NEWS, IPOLICY IS THE ESSENTIAL DIGITAL REPORT DESIGNED SPECIFICALLY FOR BROKERS AND INTERMEDIARIES. 37 | Aviva Enhances Critical Illness Cover To Pay Out On All Heart Attacks.

14 | Traditional Insurers Risk Losing Customers In A Digital Age.

39 | Protecting Higher Education Institutions Against Increased Risks.

16 | Almost 200 Million Europeans Carry EU Health Insurance Card.

41 | Friends Life Enhances Group Protection Online Quote System.

19 | Now Health Launch Electronic Prescription Service In Dubai.

43 | Kidnap, Ransom and Extortion Insurance In USA.

21 | APRIL UK Launch New Personal Accident Plan.

45 | XL Group Announces Kidnap And Ransom Insurance Capability.

23 | Kidnap And Ransom Insurance: Are Your Covered In Libya?.

47 | Cigna TTK Health Insurance Launches ProHealth.

25 | Simple Solution for Insuring Domestic U.S. and Expatriate Employees.

49 | Allianz Launch Construction Project All Risks.

27 | PruHealth Launches Vitality Academy FOR Intermediaries.

51 | ACE Help EMEA Businesses Manage Their Growing Employee Travel Risks.

31 | Cigna Adds Accident Expense Product To Supplemental Health.

53 | Cigna TTK Health Insurance Launches in India.

31 | Supplementary HealthPlans For EU Employees.

55 | New Product to Cover Cross-border Casualty Risks Against Increased Risks.

33 | APRIL UK Launch New Accident, Sickness & Hospitalisation Plan.

55 | Internationally Mobile Employees Gain Access To Over 1 Million Doctors and Hospitals.

35 | 1 Hundred Million Dollars Of Uninsured Cargo Losses.

55 | Publish a News Story Here and Get Exclusive Global Coverage.

LEGAL Š 2009-2014 All editorial content and graphics in iPolicy Magazine is/are protected by copyright, international treaties and other applicable copyright laws and may not be copied without the express written permission of iPMI Magazine.

FRONT COVER Mr. Paul Evans, Group Chief Executive, AXA UK plc. Recently nominated by the Board of the Association of British Insurers to become its next Chairman. He takes over from Tidjane Thiam of Prudential.

CONNECT Get in touch with iPMI Magazine by writing to ipmi@ipmimagazine.com. We like to chat and will be happy to talk about your business and your role within the international healthcare industry.

Health insurance News

12 | Paul Evans To Be The Next Chairman Of The Association of British Insurers.

POWERED BY IPMI MAGAZINE | MARCH 2014

CIGNA MEDICAL INSURANCE PLANS GO MULTILINGUAL MEDICAL INSURANCE PLANS IN GERMAN FRENCH DUTCH AND SPANISH FRONT COVER Mr. Phil Austin, Head of Global IPMI CIGNA International

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

Mr. Paul Evans, Group Chief Executive, AXA UK plc. Photo courtesy of AXA UK plc.

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PAUL EVANS TO BE NEXT CHAIRMAN OF THE ABI

Elected as Chairman by the Board as Tidjane’s term comes to a close, to be formally confirmed at the AGM on 1st October 2014. Paul Evans has been Group Chief Executive of AXA UK plc since October 2010, previously been Chief Executive of AXA Life. Paul served on the ABI’s Long-Term Savings and Life Insurance Committee between 2003 and 2010, at which point he became Chairman of the ABI’s General Insurance committee and a Deputy Chairman of the ABI Board.

Commenting, Paul Evans said, “I am honoured to be chosen as Chairman of the ABI, especially

succeeding Tidjane Thiam who has been instrumental in refocusing the ABI to address the many challenges that the insurance industry faces. Insurance is one of Britain’s business success stories, providing jobs, financial security for millions of homeowners and businesses, and as a major contributor to economic growth.

I am immensely proud of the work that insurers do to help people live their lives to the full, and businesses to reach their potential by protecting them from the cost of the unexpected, helping them build their financial futures, and supporting them when they need

us most. Insurance and long term savings are as relevant today as they have ever been. I look forward to helping members to shape a future in which we are credited for operating responsibly, transparently and with a focus on delivering great value to our customers. I very much look forward to working with ABI Director General Otto Thoresen and his team to ensure that this great industry continues to demonstrate our social purpose and will continue pressing for reforms - whether from Government, Regulators, or from ourselves, where they are most needed.” l

Health insurance News

PAUL EVANS, GROUP CHIEF EXECUTIVE, AXA UK PLC, HAS BEEN NOMINATED BY THE BOARD OF THE ASSOCIATION OF BRITISH INSURERS TO BECOME ITS NEXT CHAIRMAN. HE TAKES OVER FROM TIDJANE THIAM OF PRUDENTIAL WHO WILL HAVE COMPLETED HIS TWO-YEAR TERM AS ABI CHAIRMAN.

Health insurance News

iPOLICY >> International Medical Insurance | Expatriate Health Insurance

TRADITIONAL INSURERS RISK LOSING CUSTOMERS IN DIG TAL AGE RESEARCH SHOWS THAT CUSTOMERS ARE BEGINNING TO EXPECT MORE FROM THEIR INSURER AND WOULD BE PREPARED TO PROVIDE ADDITIONAL PERSONAL AND LIFESTYLE INFORMATION TO GET THE BEST DEAL AND SERVICE. AS EXAMPLE NEARLY 62% WOULD BE PREPARED TO HAVE A SENSOR IN THEIR HOME OR CAR. According to PwC’s new report Insurance 2020: The digital prize – Taking customer connection to a new level, traditional insurers are facing a growing threat of losing out to new entrants in the battle for customers as people are increasingly using the internet to hunt out cheaper policies and a more tailored service.

PwC’s research with nearly 10,000 people in 16 countries

(1,500 UK adults) reveals that half already buy their insurance policies online and many would be open to buying their policy from a new entrant such as, an internet search provider (18%), major retail brand (18%) or online retailer (15%). This shift is being driven by UK consumers’ focus on price and their experience with online retailers where they are used to receiving a more simple and

tailored service. The findings reveal that 86% of UK adults do some form of online research before buying an insurance policy and 50% policies are bought online.

This compares to only a quarter (26%) globally. British customers are also the most price conscious of all their global counterparts, with 74% saying it is the most important factor they consider when choosing their insurer.

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experience they demand.”

PwC’s research shows that customers are beginning to expect more from their insurer and would be prepared to provide additional personal and lifestyle information to get the best deal and service.

Nearly two thirds (62%) would be prepared to have a sensor in their home or car, for example a device which records driving behaviour and adjusts insurance premiums accordingly.

37% would be willing to give additional data to help them reduce their premium.

Spiteri, added, “If insurers want to hold on to their existing customers and attract new ones they need to keep pace with customer expectations. Our research shows customers are willing to hand over their data in exchange for a better service. This is a real opportunity for insurers

to use digital to access a broader set of behavioural data from customers and use this to deliver a personalised service, and one that should not be wasted. Insurers can not only price risk more precisely, but offer more informed advice on how it can be reduced and mitigated. While the move to digital is compelling, customers still like the opportunity to interact with an individual. Web chat, cobrowsing and video chat provide ways to enhance the digital experience and help to customers in their hours of need. Customers expect and demand a consistent experience, regardless.” l

Read the full PWC report

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Only 20% said brand is important.

Michael Spiteri, digital insurance partner at PwC, said, “When it comes to buying general insurance products the customer has all the power. They have the ability to access and compare information based on their own criteria and many are using this to track down better deals. Traditional insurers are struggling to build a compelling and engaging customer experience that creates loyalty in what is a highly price conscious and highswitching UK market. Our research shows that the average UK adult switches their insurer every four years, which is much lower than the global average. Insurers cannot ignore new entrants such as search engines or online retailers. If traditional insurers fail to provide customers with what they want they will buy from the brands they trust and which deliver the

Health insurance News

iPOLICY >> International Medical Insurance | Expatriate Health Insurance

ALMOST 200 MILLION EUROPEANS CARRY EU HEALTH INSURANCE CARD ALMOST 200 MILLION EUROPEANS ALREADY HAVE THE EUROPEAN HEALTH INSURANCE CARD (EHIC), ACCORDING TO THE LATEST FIGURES AVAILABLE FOR 2013. THIS REPRESENTS MORE THAN HALF OF THE INSURED POPULATION IN THE EU. THE NUMBER OF EHIC HOLDERS IS STEADILY INCREASING, WITH 8M MORE CITIZENS CARRYING IT IN 2013 COMPARED TO THE PREVIOUS YEAR (+4%).

The EHIC, available free of charge, confirms that a person is entitled to receive medical treatment that becomes necessary on a temporary stay abroad from the host country’s public healthcare system on the same terms and at the same cost as nationals of that country.

The EHIC cannot be used to cover planned medical treatment in another country. Hospitals that provide public health services are

obliged to recognise the EHIC. In fact, in the vast majority of cases, patients presenting the EHIC receive the necessary healthcare and are reimbursed without any problems.

However, there have been cases of refusals, in general due to a lack of awareness on the part of healthcare providers. Therefore both the European Commission and the Member States must

continue to raise awareness on how the card works, both among health practitioners and citizens.

In case the EHIC is not accepted, patients should contact the relevant health authority in the country they are visiting. The emergency contact numbers are easily accessible via the EHIC application for smartphones and tablets. In case of further refusal, patients should request support

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8 Dont forget: the European Health Insurance Card will not cover you for certain medical procedures. Also, if evacuation or repatriation is required, you wont be covered l

investigates such cases and when necessary, infringement procedures will be opened against any Member State not applying EU law on the use of the EHIC. Citizens should be aware that the card is issued free by their national health insurance provider in the home country, without any need of paying charges to intermediaries who offer help for the application process, as it has been reported to happen in some countries. Citizens should report such cases to the national health insurance authorities.

This EHIC medical card is accepted by hospitals and clinics in the EU as well as Iceland, Liechtenstein, Norway and Switzerland.

In the UK, healthcare is free with the NHS, however, this is not the case in a number of European states. This means that if you have

an accident or need medical attention when travelling in mainland Europe, you will have to pay for treatment or services.

The card covers medical treatment you might need if you fall ill or have an accident during your visit to European countries.

The EHIC card can help holidaymakers when faced with medical expense overseas, but it doesn’t replace single trip or holiday medical travel insurance cover. This is because that the EHIC may not cover specific costs met under medical travel insurance policies including mountain rescue and the cost of repatriation by air ambulance or commercial airline, with a medical escort. Travel insurance also provides cover for a host of added extras such as luggage loss or cover if your holiday is unexpectedly cut short. l

Health insurance News

from their home country’s health authorities.

László Andor, commissioner for employment, social affairs and inclusion, commented, “just as many people are planning to leave on their summer holidays, it is encouraging to see that more and more people have a european health insurance card. This allows them to get necessary treatment when travelling within the european union, switzerland, liechtenstein, norway and iceland. The increasing number of citizens obtaining the card demonstrates the confidence in the ehic system and the recognition of the protection it provides.”

If they still encounter problems, they should contact the European Commission, which can investigate the claims and raise the issue with the authorities of the country concerned. The Commission

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NOW HEALTH LAUNCH ELECTRONIC PRESCRIPTION SERVICE IN DUBAI Wednesday, 18 June 2014

New speedy electronic prescription service launched for Now Health WorldCare members in Dubai.

To comply with regulations set by the Dubai Health Authority, Now Health have introduced an electronic prescription service for members.

The service provides instant electronic authorisation for prescriptions to comply with the DHA mandatory law, and will speed up the out-patient direct billing process for patients needing access to medication.

The new secure online service interacts directly with PBMLink which is the DHA Provider Portal that physicians and pharmacists use when they prescribe and dispense medication. This ensures

that customers who have outpatient direct billing will be able to use the automated e-pharmacy system, plus their medical records will be easily accessible by both physicians and pharmacists.

Dr Kiran Vemuri, Head of Clinical Services in Dubai said, “Now Health WorldCare members will see a real improvement in the speed their medications are dispensed which can help reduce the stress and worry at what can often be a difficult time.” Now Health International, which administers plans in Dubai for AXA Insurance (Gulf) B.S.C. ©, is an International Private Medical Insurance Provider.

Headquartered in Hong Kong with regional offices in Singapore, Shanghai, the UK and UAE. The group working with insurers distributes medical insurance plans to people who want to access international healthcare around the world. Its products are available directly to individuals and companies and via brokers and other intermediaries.

Read more Health and Medical Insurance industry news at ipmimagazine.com l

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8 SERVICE PROVIDES INSTANT ELECTRONIC AUTHORISATION FOR PRESCRIPTIONS TO COMPLY WITH THE DHA MANDATORY LAW.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

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APRIL UK LAUNCH NEW PERSONAL ACCIDENT PLAN Wednesday, 11 June 2014

APRIL UK has launched a new Personal Accident Plan, aimed at protecting those with active lifestyles from fractures and serious injuries.

Their new plan was launched in June 2014 and provides 21 fracture benefits paying out up to £3,000 per fracture. They have also included an anterior cruciate ligament injury benefit, which comes as standard on the plan and pays out up to £1,500.

For those looking for more comprehensive accident cover, they can upgrade to the ‘PLUS’ plan which provides an additional 18 serious injury benefits, including permanent total disability, accidental death and loss of limbs, paying out up to £200,000.

Marketing Manager, Isaac Lam said that they had seen a stronger demand for personal accident cover in recent times, “With people leading increasingly active lifestyles and injuries becoming a common occurrence, it has made people have another think about personal protection cover.”

In particular, APRIL UK believe that their plan would appeal to the football and rugby communities, especially since they have added anterior cruciate ligament injury benefit.

“They see their friends injured on a weekend playing football or rugby, which may hurt their pride and keep them out of the game for a few weeks or months. But the real damage is the financial

cost of the injury and how it can leave people seriously out of pocket.”

Self employed and trades people who need to be mobile are at greatest risk because they could see their earnings stop if they are not able to work. The APRIL UK Personal Accident Plan is available with 3 levels of cover, with premiums starting from just £5.70 a month. There is also an option to extend cover to include a partner and children, aimed at families who take part in regular outdoor activities and winter sports. There are no excluded occupations on the plan and it covers a wide range of sporting activities however some extreme sports are excluded. l

Health insurance News

8 NEW PLAN WAS LAUNCHED JUNE 2014 AND PROVIDES 21 FRACTURE BENEFITS PAYING OUT UP TO £3,000 PER FRACTURE.

iPOLICY >> International Medical Insurance | Expatriate Health Insurance

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KIDNAP AND RANSOM INSURANCE: ARE YOUR COVERED IN LIBYA? Thursday 15th May 2014

Though he was released unharmed, his ordeal serves to highlight that no one in Libya can take their personal security for granted.

Anyone visiting or working here is strongly advised to take out specialist kidnap and ransom insurance. Since the fall of Colonel Gaddafi in 2011, kidnapping has become an ever-increasing threat from which no one seems exempt, not even the Prime Minister.

Last October, armed militants were able to abduct the then incumbent, Ali Zeidan, with just minimal force from the centre of Tripoli. The ease with which he was taken demonstrates just how enfeebled the security forces are in the face of these armed groups.

Though Ali Zeidan was also

eventually released, many victims have not been so fortunate. While the focus of most kidnapping has been on Libyan officials and Middle Eastern diplomats, some armed groups are known to be targeting westerners. Over the course of 2013, a number of European embassies were attacked, as was the convoy of the EU ambassador.

Last December an American teacher was shot dead in Benghazi and in January, a British man and a New Zealand woman were found dead near Mellitah.

While some of the oil ports in the east are currently shutdown and under rebel control, pipelines are reopening in the western oil regions.

It’s estimated that oil production

may double this year to 500,000 barrels. While the situation is obviously unpredictable, we are finding more European and US executives are beginning to travel.

Bellwood Prestbury is providing kidnap and ransom insurance to a growing number of business people working in a range of occupations across Libya. The cover can provide a number of services, including an initial security briefing about the current situation and how best to keep yourself or your people safe. A 24/7 hotline to security experts is also available for updates on any developments.

In the event of an incident funding is provided for experienced kidnap negotiators, and compensation can be available. l

Health insurance News

8 THE RECENT KIDNAPPING OF THE JORDANIAN AMBASSADOR TO LIBYA, IS THE LATEST IN A LONG LINE OF HIGH-PROFILE ABDUCTIONS.

iPOLICY >> International Medical Insurance | Expatriate Health Insurance

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SIMPLE SOLUTION FOR INSURING DOMESTIC U.S. AND EXPATRIATE EMPLOYEES Thursday 15th May 2014

HR departments are challenged to create employee benefit programs that satisfy both domestic U.S. and internationally based workers while avoiding coverage gaps. While finding the right benefit policies may appear difficult for businesses, Zurich Global Life North America is making it easy for U.S.-based multinational corporations.

Its Corporate Life and Pensions team can now develop a single, comprehensive group policy that covers multiple classes of employees, whether they are based in the United States or remain globally mobile. And having just one point of contact at Zurich makes it even simpler for human resource professionals.

“No other insurance provider can match our level of global experience,” said Lance Henderson, Zurich’s head of distribution for U.S. Corporate Life and Pensions.

“Our team offers employee benefit programs in more than 200 countries and territories. We work with employers to create one hybrid policy – a single contract solution – that covers domestic U.S., expatriate and other globally mobile employees.”

The Zurich program is structured to allow for a more streamlined way of managing business by providing a packaged, worldwide approach to benefits, administration and compliance. When a U.S.based worker relocates to another country on assignment, the

worker’s benefits essentially stay consistent with the employer’s U.S. model when insured through Zurich.

“An employee could move from New York to South Africa and two years later to Chile, but his benefits would remain similar to those of his U.S. coworkers, eliminating coverage gaps that are a big concern under many benefit policies available today,” Henderson said. “It no longer becomes an issue when employees rotate between domestic U.S. and globally mobile roles.”

Zurich’s consolidated coverage options for domestic U.S. and globally mobile employees of U.S.-based multinational companies became available in late 2013. l

Health insurance News

8 GLOBAL GROWTH MAY INVOLVE JUST A FEW EMPLOYEES ON WORK ASSIGNMENTS OUTSIDE THE COUNTRY.

108 Medical Chambers at 108 Harley Street is a consultant-led and delivered independent clinic offering the highest standards of professional care with a minimum of delay in relaxing and friendly surroundings.

MEDICAL CHAMBERS 108 HARLEY STREET LONDON WIG 7ET

The specialist clinics located at 108 Harley Street are:

The London Breast Clinic – Fully integrated breast care service for all benign and malignant disease with on site digital mammography, ultrasound, cytology and core biopsy allowing rapid diagnosis. Breast screening, genetic and family review also available on site.

The London Skin Clinic – Experts offer same day consultation and surgery under local anaesthetic for conditions including melanoma, skin cancer, cysts and other benign lesions, together with diagnosis and treatment of general dermatological conditions.

The Gilmore Groin and Hernia Clinic – Over 30 years’ experience of the diagnosis and treatment for sportsmen and sportswomen with Groin Disruption / Sportsman’s Groin (Gilmore’s Groin) and adductor injuries, together with herniae of all types both primary and recurrent. Both open and laparoscopic repair are available as appropriate.

The London Rectal Clinic – Expert opinion and treatment of inflammatory bowel disease including ulcerative colitis and Crohn’s disease, malignant and benign disease of the colon and rectum including rectal bleeding, haemorrhoids, pilonidal sinus, fissure and fistula. Bowel cancer screening is also available.

The London Sports Injury Clinic – A cutting edge, multidisciplinary service that specialises in non surgical solutions for sports and orthopaedic injuries. In addition the clinic focuses on human performance and wellness. “You don’t have to be a professional athlete to be treated like one”.

108 X-ray and Imaging – Rapid access to full field digital mammography, ultrasound and where appropriate needle aspiration cytology or core biopsy.

A full range of plain film investigations, general ultrasound including abdominal, gynaecological and small part imaging. A full breast screening service is also available.

For more information visit: www.108harleystreet.co.uk Telephone

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

PRUHEALTH LAUNCHES VITALITY ACADEMY FOR INTERMEDIARIES Tuesday 13th May 2014

It is holding a series of roadshows around the country this week to present the details of this two tier certified accreditation, which will underpin all adviser relationships irrespective of channel, and is designed to enhance brokers’ expertise in PruHealth with Vitality and Lifestyle Health Insurance. This will be underpinned with commercial benefits for those that complete its accreditation.

Dave Priestley, Sales Director at PruHealth with Vitality commented, “The UK health insurance market is on the verge of significant change and in line with the FCA’s recent guidelines, we firmly believe that it is providers’ responsibility to fully support advisors in being able to accurately

and fairly articulate product features and benefits to customers.

We want to lead the way and go beyond the minimum requirements by investing significantly in training and education and by raising the bar on product knowledge and understanding. In recognition of the extra effort and time required to achieve high levels of product knowledge we are also rewarding advisers with a range of benefits agreed at broker firm level.”

There are two stages to accreditation. Foundation level accreditation will enable advisers to demonstrate to customers a sound understanding of PruHealth’s proposition, so that customers can have full confidence in the advice they are being given.

Advanced level accreditation goes a step further by recognising a deeper level of understanding of how Lifestyle Health Insurance differs from traditional PMI and how it meets a much broader range of needs. Completion of the advanced accreditation will result in Prestige Adviser status and drive enhanced commission and access to further benefits.

The programme will run on an annual cycle from 1st July 2014.

Full details will be sent to intermediaries in June including links to the accreditation. This new academy replaces the broker prestige programme. Key elements of the Vitality Academy include market insight and product information. l

Health insurance News

8 PRUHEALTH WITH VITALITY, HAS TODAY LAUNCHED THE VITALITY ACADEMY, PROVIDING BROKERS DEVELOPMENT SUPPORT.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

CIGNA ADDS ACCIDENT EXPENSE PRODUCT TO SUPPLEMENTAL HEALTH Friday 25th April 2014

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igna has launched a new personal Accident Expense insurance product, adding to a suite of Cigna Supplemental Solutions® individual insurance products insured by Loyal American Life Insurance Company.

Approximately one in eight Americans seek medical treatment

for accidents every year, according to the National Safety Council and a 2013 Cigna survey found that 84% of U.S. workers have worried about the financial impact of a serious illness or injury.

Cigna’s Accident Expense policy helps people manage unexpected medical expenses by providing

benefit options ranging between $2,500 and $25,000 for reimbursement of out-of-pocked medical expenses not already paid by other insurance, if they are in a covered accident.

Examples include costs associated with an ambulance service, emergency room treatments and doctor visits during recovery.”

Friday 25th April 2014

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llianz Worldwide Care’s new EuroSanté health plans provide employees of European Institutions with cover which is supplementary to EU’s Joint Sickness Insurance Scheme (JSIS).

Commenting on the new plans, Hendrik Boelens, Head of Inter-

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Governmental Organizations at Allianz Worldwide Care, said, “We already have a strong presence in the IGO market, so providing supplementary cover to staff employed by European Institutions was a natural extension of our existing offering.

Allianz Worldwide Care has developed EuroSanté as one of the strongest supplementary insurance plans available in this market, offering individuals greater choice than ever before as well as a market leading level of service.”

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SUPPLEMENTARY HEALTHPLANS FOR EU EMPLOYEES

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TOTAL NUMBER OF EXPATRIATES WORLDWIDE IN 2013

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

APRIL UK LAUNCH NEW ACCIDENT, SICKNESS & HOSPITALISATION PLAN Thursday 24th April 2014

APRIL UK has launched a new accident and sickness plan, aimed at helping individuals bridge the protection gap.

The new Accident, Sickness & Hospitalisation Plan was launched in April 2014 and provides up to £2,500 monthly benefit with optional unemployment cover and no requirement for medical underwriting.

Marketing Manager, Isaac Lam said the Bristol based company wanted to create a simple Accident & Sickness plan that would appeal to a wide range of people, “We have taken steps to make our plan as simple as possible, whilst still providing effective income protection benefits. Moratorium underwriting rather than medical

underwriting will make it quick and easy to obtain cover. Our feedback shows that people are concerned about rising premiums and future affordability. Our premiums are not dependent upon age which provides greater certainty about future spend and budgeting. Having researched comparison sites, we are also confident that our plan is priced competitively and will be a compelling option for advisors in this crowded market place.”

Income protection is arguably the most important form of financial protection, which allows people to continuing paying their bills and meeting their financial commitments, even if their income stops.

APRIL UK are optimistic that their flexible approach to providing cover will make it a popular choice for both brokers and customers alike.

“We have no occupation or hazardous pursuits exclusions and policyholders will be able to cover up to 60% of their taxable earnings, as well as choose from a wide range of deferred and benefit options.”

The APRIL UK Accident, Sickness & Hospitalisation Plan will also offer Unemployment Benefit as an optional add-on. Again, this will be available with up to £2,500 monthly benefit, with deferred periods from just 14 days. l

Health insurance News

8 APRIL UK IS PART OF THE INTERNATIONAL APRIL GROUP HEADQUARTERED IN FRANCE, WHICH LOOKS AFTER SIX MILLION POLICYHOLDERS WORLDWIDE.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

1 HUNDRED MILLION DOLLARS OF UNINSURED CARGO LOSSES Monday 14th April 2014

In recent years cargo losses worth more than one hundred million dollars have not been recovered under traditional cargo insurance policies due to critical exposures being excluded.

Heightened levels of political unrest and uncertainty have highlighted a significant gap in coverage for cargo risks around the world.

That is because standard “allrisks” cargo insurance policies may not respond to losses arising from various types of violent unrest.

For example, traditional cargo insurance policies typically exclude certain losses, such as those arising from civil war, insurrection, rebellion and terrorism

for goods in store.

Meanwhile, political violence policies, which typically respond to these types of risk, usually exclude transit exposures and cover fixed assets rather than stock.

In response, Willis has launched a new insurance facility, called Undercover, to protect cargo in transit and in store against all types of political violence, terrorism and war risks.

Trevor McGarry, Executive Director of Willis’s marine insurance business, said, “It is apparent that many companies misunderstand their cover. They think they’re protected when in fact they are not. With all the unrest currently sweeping across

the world it can be difficult for companies to be assured that they have the right cover in place, particularly when the definition of violent acts is open to interpretation.

The violence in Syria, for example, has been inconsistently reported as a civil war, a rebellion, and an insurrection. And yet how these events are defined has a critical bearing on whether or not insurance policies will respond. With that in mind, and given the extraordinary volume of losses that are not recoverable under traditional cargo insurance policies, Willis has created Undercover, a facility which protects companies against all their cargo exposures, regardless of whether that cargo is on land or at sea, in transit or in store.” l

Health insurance News

8 WILLIS HAS LAUNCHED NEW INSURANCE FACILITY, UNDERCOVER, TO PROTECT CARGO IN TRANSIT AND IN STORE AGAINST ALL TYPES OF POLITICAL RISK.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

AVIVA ENHANCES CRITICAL ILLNESS COVER TO PAY OUT ON ALL HEART ATTACKS Monday 14th April 2014

Aviva has enhanced its heart attack definition on new critical illness policies, meaning it will now pay out on the diagnosis of a heart attack, regardless of how severe it is. This removes the requirement for customers to reach a specified troponin* level in order for the claim to be paid.

During 2013 Aviva paid out more than £158 million to UK customers with critical illness cover.

In 2013 2,171 customers received a critical illness payment with an average sum of £72,947.

Aviva’s critical illness policies cover 57 conditions, including 11 additional benefits.

In December 2013 Aviva enhanced its critical illness

definitions on stroke and multiple sclerosis, the third and fourth biggest cause of claims.

Robert Morrison, chief underwriter for Aviva says, “Our number one priority is that we want to pay more claims and to be there for our customers when they need us the most, so whenever we make changes to our protection policies, this is our starting point.

Our cover is constantly evolving to help as many customers as possible. We enhanced our heart attack definition less than a year ago to achieve this, and our latest move takes us a step further. This will help to prevent the situation of advisers having to tell clients that although their doctor has told them they’ve had a heart

attack, it isn’t quite bad enough to receive a payment. Around 103,000 people have a heart attack in the UK each year, so it’s perhaps no surprise that they are one of our biggest reasons for critical illness claims. The new definition is designed to cut out complexity, making the cover even easier for customers and advisers to understand. Customers can be reassured that quite simply, if they have had a heart attack, they can make a claim.”

The move, which applies to policies taken out from 13 April 2014, follows on from a previous enhancement in July 2013 when Aviva significantly lowered the severity threshold for heart attack claims. l

Health insurance News

8 DURING 2013 AVIVA PAID OUT MORE THAN £158 MILLION TO UK CUSTOMERS WITH CRITICAL ILLNESS COVER.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

PROTECTING HIGHER EDUCATION INSTITUTIONS AGAINST INCREASED RISKS Tuesday 8th April 2014

Colleges and universities are facing well being. Enforcement of this a growing array of risks, and courts act has increased exponentially have recently found more institutions in recent years with fines of $35,000 across the US liable for violations for each violation. under the Clery Act, Title IX and In 2013, the US Department other laws and regulations. of Education issued $1,455,000 Hiscox coverage protects in fines for Clery Act violations colleges, universities and their - nearly equal to the $1,650,000 employees from the specific risks issued in the prior 22 years faced by higher education combined. institutions, including the failure Hiscox’s Higher Education to educate, tenure/promotion Portfolio covers costs associated decisions and the exposure of with both Clery Act investigations private data. and violation claims.

The Clery Act is one area where “The exposures of higher higher education institutions education institutions continue are increasingly being cited for to increase, and our coverage has neglecting their responsibility to adapted to cover both traditional inform students about acts of and new perils,” said Bertrand harassment, campus crime and Spunberg, Senior Vice President, other potential dangers to their Practice Leader -- Executive Risk

for Hiscox USA. “Hiscox provides the specific protections colleges and universities need for exposures related to their students and staff whether they are on campus, online or studying abroad.”

Hiscox Educators Legal Liability policies provide coverage for common liability claims including the failure to educate, failure to grant due process regarding disciplinary matters, discrimination and reputational risks associated with campus violence. Hiscox policy endorsements also cover higher education institutions for data breach/privacy exposures related to medical and financial records and the associated reputation loss. Read more like this at ipmimagazine.com l

Health insurance News

8 HISCOX ANNOUNCED EXPANDED PROTECTIONS IN THEIR SUITE OF INSURANCE COVERAGES FOR HIGHER EDUCATION INSTITUTIONS.

iPOLICY >> International Medical Insurance | Expatriate Health Insurance

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FRIENDS LIFE ENHANCES GROUP PROTECTION ONLINE QUOTE SYSTEM Tuesday 8th April 2014

Service also allows advisers to create and amend Group Protection quotes for small to medium-sized enterprises (SMEs) with 3–100 members as well as allowing them to put schemes on risk whenever they need to.

Commenting on the enhancements, David Williams, Director of Group Protection, said, “I’m delighted that we have made these improvements to our online service. It meets the needs of our SME customers and distribution partners, while demonstrating our commitment to the market.

We listened to adviser feedback asking us for enhancements to the quote and new business process, and for improved product terms and conditions and I’m

really pleased we’ve delivered them. For those who are already using the Friends Life Online Services these enhancements should make continuing to work with us much smoother. For those not currently using it, the improved online service sends out a strong message that we have a competitive proposition to meet clients’ group protection needs which is easy to use.”

Loss of the physical or mental ability through an illness or injury to the extent that the member is unable to do the material and substantial duties of a suited occupation ever again.

The material and substantial duties are those that are normally required for, and/or form a

significant and integral part of, the performance of a suited occupation that cannot reasonably be omitted or modified.

A suited occupation means any work the member could do for profit or pay taking into account their employment history, knowledge, transferable skills, training, education and experience, and is irrespective of location and availability. l

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Health insurance News

8 PRODUCT ENHANCEMENTS AND IMPROVED RISK QUESTIONS ASKED ON THE SYSTEM WILL IMPROVE THE ADVISER EXPERIENCE.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

KIDNAP, RANSOM AND EXTORTION INSURANCE IN USA Tuesday 7th April 2014

With its new Comprehensive Kidnap, Ransom & Extortion (KRE) Crisis Policy and an agreement with one of world’s top risk consultancies, XL Group’s US Crisis Management team is helping individuals and businesses safely navigate a riskier world.

Through an agreement with Terra Firma Risk Management LLP, XL Group’s new KRE coverage is accompanied by response capabilities and crisis management guidance.

According to Denise Balan, Country Manager of XL’s US Crisis Management business, “In many parts of the world, kidnap and extortion are proving to be a lucrative business. Whether prompted by profit or politics,

crisis events like kidnapping, disappearance and hijack are increasingly real threats.

Though the tendency is to focus on countries such as Mexico, which experienced a reported 100,000 kidnappings last year, many crisis events occur on a world-wide basis.”

“The true value of this coverage is realized long before a ransom payout is necessary. It lies in the precautionary assistance from world-class security advisors and crisis management experts, Terra Firma, that this coverage provides,” explained Ms. Balan. “We take our clients’ safety seriously, helping them become as perceptive and knowledgeable as they can be to avoid predicaments that put

themselves, their families and businesses at risk.”

XL Group also added KRE underwriter Todd Cranche to its US Crisis Management team. With more than 20 years of insurance industry experience, Mr. Cranche joins XL Group from AON where he served as Vice President in its Business Travel and Accident unit.

Prior to his tenure at AON, he worked at Willis as Senior Vice President, Kidnap & Ransom.

He earned his Bachelor of Arts in Political Science from the University of Louisiana and a Master of Arts in Political Science from Louisiana State University.

XL Group’s new coverage includes insurance protection and crisis management assistance. l

Health insurance News

8 WITH LIMITS OF LIABILITY UP TO $50 MILLION, XL GROUP’S COVERAGE GIVES CLIENTS SINGLE-POINT ACCESS TO SPECIALIZED EXPERTS FOR CRISIS MANAGEMENT.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

XL GROUP ANNOUNCES KIDNAP AND RANSOM INSURANCE CAPABILITY Tuesday 1st April 2014

In doing so it has negotiated an exclusive contract with one of the world’s foremost risk consultancies which will support the team’s Kidnap & Ransom business.

This new approach will enable clients to use the services of Terra Firma Risk Management LLP who will provide specialist Kidnap & Ransom response capabilities and crisis management consultancy advice. To help deliver its new Kidnap & Ransom offering, XL Group has appointed Charlie Matheson as Senior Underwriter in London and Jonathan Beck as Senior Underwriter in Guernsey.

Additionally, XL Group has exclusively engaged the Salamanca Group to provide crisis management consultancy advice to its War,

Terrorism and Political Violence business that sits alongside the new Kidnap and Ransom team in the Crisis Management division.

XL Group has been steadily building a team of underwriters worldwide since appointing Stephen Ashwell as Chief Underwriting Officer for Crisis Management at the beginning of 2013. The fast growing team has a remit to provide integrated crisis management risk solutions for corporate clients and High Net Worth individuals (as appropriate across XL’s various legal entities).

Commenting Mr. Ashwell said, “As businesses and the global market become increasingly interconnected, companies operating worldwide are looking

to insurers to provide a joined-up solution for their people and assets. The risks are complex and interwoven and this new insurance approach considers the challenges to people, property and business interruption and underpins this cover with best in class crisis management and response capabilities from Terra Firma Risk Management and Salamanca Group. This strategy is central to the Crisis Management team’s business model and our underwriters are building a compelling and holistic insurance solution for our clients across the world.”

Mr. Matheson joins XL Group from JLT Specialty where he worked from 2004, and headed up the K and R team. l

Health insurance News

8 XL GROUP HAS ANNOUNCED ITS CRISIS MANAGEMENT TEAM’S NEW CAPABILITIES TO PROVIDE INSURANCE COVER FOR KIDNAP & RANSOM RISKS.

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CIGNA TTK HEALTH INSURANCE LAUNCHES PROHEALTH Wednesday 26th May 2014

Announcing the launch, Mr. Sandeep Patel, CEO and Managing Director, CignaTTK Health Insurance said, “We strongly believe that different consumers have different requirements, hence we have developed ProHealth to be flexible to consumer’s unique needs. The product has four variants and multiple customization options to cater to all consumer segments. Also at Cigna TTK our focus is on Health & Wellness, hence we have introduced unique benefits such as healthy rewards and health maintenance benefits to encourage consumers to stay healthy. In addition our Healthy life service solution ProLife, provides consumers with online programs to live a healthier lifestyle.”

ProHealth offers immediate benefit Smart Restoration feature that to the policy holder through Cigna has been designed in a consumer TTK Health Maintenance Benefits friendly way that restores the that will cover the cost for diagnostic entire sum insured, in case the tests, drugs and doctor’s fees balance is insufficient for the prescribed by the physician for subsequent claims, within the minor ailments. same year.

In addition, Cigna TTK facilitates “A strong service proposition a Healthy Reward Program that is vital to complement a feature allows its customers to earn reward rich product. Therefore at Cigna points on the premium paid and TTK we have clinically trained accrue additional points by opting service representatives to handle for Cigna TTK’s ProLife - an online customer queries and industry wellness program. leading turnaround times to help One of the significant features customers when they need us of this product is that it offers the most during illness or health” world-wide emergency health added Mr. Patel. cover to the policy holder. Through ProHealth will offer customers this facility, a customer is covered to avail sum insurance ranging for health emergencies anywhere from Rs. 2.5 Lakh to 100Lakh. l across the world. The plan has a

Health insurance News

8 CIGNA TTK HEALTH INSURANCE TODAY ANNOUNCED THE LAUNCH OF A HEALTH INSURANCE PRODUCT “PROHEALTH”.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

ALLIANZ LAUNCH CONSTRUCTION PROJECT ALL RISKS Tuesday 18th March 2014

Allianz has launched a refreshed construction product, Construction Project All Risks (CPAR), designed specifically to ensure that clients undertaking a single construction project meet their contractual obligations.

The launch comes as market analysis shows confidence is returning to the construction sector with predicted construction output growing at over 4.5% during the next three years.

The refreshed product will be suitable for a wide range of clients, including property developers and owners, universities and retailers.

Chris Little, director engineering markets, Allianz Engineering, commented, “Allianz is one of a

few insurers to offer a product that caters for single construction

project work and we are confident that the extensive cover offered

by CPAR and the expertise of our 40 plus specialist construction underwriters will fulfil the often complex needs of our construction

clients and help us to optimize the upturn in the construction industry.”

It will also provide customers cover for advanced business interruption, owned or hired in plant, employer’s contract work and JCT 6.5.1, offering one single tailored solution with one point of contact.

In addition, Allianz offers customers access to construction underwriting experts, a specialist claims team and Risk Director, which provides extensive risk management advice, all supported by an AA- financial rating (Standard and Poor’s rating 2013) which ensures a proven track record of experience, support and financial stability. l

Health insurance News

8 FOLLOWING MARKET RESEARCH, FEEDBACK FROM BROKERS, CPAR OFFERS GREATER PUBLIC LIABILITY COVER FOR MULTI-PARTIES.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

| 51

ACE HELP EMEA BUSINESSES MANAGE THEIR GROWING EMPLOYEE TRAVEL RISKS Wednesday 5th March 2014

ACE Business Class provides comprehensive travel insurance cover combined with marketleading medical and travel assistance services.

As part of ACE’s commitment to innovation, the new proposition also offers eligible companies cover and security services for kidnap and ransom events, a risk of increasing concern for business travellers, particularly when visiting regions with higher security or political risks.

The new proposition has been designed to cover a wide range of “traditional” business risks while meeting the bespoke needs of companies with different risk profiles.

For example, ACE Business

Class covers longer-term overseas Vice President, Accident and assignments, staff relocation and Health for EMEA at ACE, said, occupational accidents and can “Business travel spending now be structured as a multinational exceeds $1 trillion and, despite programme designed to ensure the after-effects of the financial compliance with local regulations crisis and recession in many in multiple jurisdictions, features countries, experts expect demand which are not typically available from European businesses to as standard for businesses in the continue to increase. “ACE Business EMEA region.

Class gives companies of all sizes For the first time, ACE Business the confidence to travel globally Class also provides clients across knowing that their people, their the EMEA region with access to most precious assets, are protected a security hotline, which is available by substantial financial, medical to policyholders 24/7, 365 days and risk expertise, even as the per year, as well as a wide range risks evolve and grow.” l of additional security services such as daily reports on risk-related events, employee tracking and location threat assessments.

Patrick Drinan, Regional Senior

Health insurance News

8 ACE EUROPEAN GROUP HAVE ANNOUNCED THE LAUNCH OF ITS NEW BUSINESS TRAVEL PROPOSITION ACE BUSINESS CLASS.

flexible life, accident & health solutions

Strategic Broking offer a fresh approach to specialist Life, Accident and Health insurance solutions to brokers, consultants and intermediaries worldwide.

We understand that each customer is different so we work closely with you to identify their needs using our knowledge and experience and we will then seek a cost effective solution.

Our products offer some of the very best cover available in the market today on very competitive terms. Cover can be arranged on a stand alone basis or to fill a gap within another policy.

Strategic Broking is the insurance broking arm of Strategic Insurance Services Ltd, an independent Lloyd’s Broker with a flexible approach and access to a wide range of insurers to provide the right solution for your customers.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

CIGNA TTK HEALTH INSURANCE LAUNCHES IN INDIA Tuesday, 25 February 2014

CignaTTK Health Insurance, a joint venture between U.S. based global health service leader, Cigna Corporation and Indian conglomerate TTK Group, have announced the launch of its operations in India.

Speaking at the occasion Mr. T.T. Jagannathan, Chairman of the TTK Group of Companies said, “We’re delighted to partner with Cigna. It is our commitment to provide quality products and services to our customers. TTK group upholds ‘Transparency, Trust and Knowledge’ in all aspects of our business. Through our partnership with Cigna, we now intend to deliver health insurance solutions that keep the customer at the heart of everything we do.”

Announcing the launch, Mr.

Sandeep Patel, CEO and Managing Director, CignaTTK Health Insurance Company Limited said “CignaTTK’s focus is to encourage customers to stay healthy and live life to the fullest. We will do that by delivering products and services that will educate and assist customers to lead healthier lifestyles. Given the continued rise in medical costs in India, coupled with a parallel increase in lifestyle related diseases, there is an urgent need to upscale health insurance penetration in the country. We are committed to providing affordable and innovative health insurance solutions to meet our customer’s daily health challenges without compromising on quality customer service.”

Mr. Jason Sadler, President, Cigna Global Individual said, “Cigna is one of the leading health service companies in the world and operates in more than 31 countries. With more than 80 million customer relationships worldwide, we pride ourselves on our ability to provide products and services aligned with customer expectations of solutions that are easy to access, use, and deliver on their promise. We are delighted to partner with the TTK Group and look forward to bringing to Indian customers innovative health and wellness solutions.” l

Health insurance News

8 CIGNA TTK HAS UNDERTAKEN EXTENSIVE CONSUMER RESEARCH TO UNDERSTAND THE NEEDS OF INDIAN CONSUMERS.

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iPOLICY >> International Medical Insurance | Expatriate Health Insurance

NEW PRODUCT TO COVER CROSS-BORDER CASUALTY RISKS Friday 25th April 2014

products and services through one underwriting contact, using one online submission, and a single global claims coordinator.

GCSS provides companies with more consistency across policy forms to help mitigate the risk of casualty insurance gaps, whether based on geography, severity, or coverage type.

“Brokers serving small and medium-sized businesses want to access their multinational insurance partner in a simple way,”

said Russell Johnston, President, U.S. Casualty. “We’ve updated our new multinational casualty process with brokers and customers in mind to create this new product.”

Preferred industries include manufacturing, wholesale, and financial institutions, as well as business, legal and engineering service firms.

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in over 130 countries.

MOBILE EMPLOYEES GAIN ACCESS TO OVER ONE MILLION DRS & HOSPITALS Friday 25th April 2014

ProtectN’GO gives internationally mobile employees access to over one million doctors and hospitals, supports them with 24/7, multilingual service centers located in three time zones in combination with access to local health care services, and access to wellness programs including an international Employee Assistance Program.

“Cigna is dedicated to improving the health, well-being and sense

of security of the people we serve regardless of their location around the world. North American NGO employees and their families depend on us to understand their needs and provide the right coverage,” said Sheldon Kenton, senior vice president, Cigna Global Employer Segment Sales.

R O F E IB R C S B U S

Health insurance News

American International Group, Inc. (AIG) have announced the launch of its Global Casualty Single Solution (GCSS), a new product to cover cross-border casualty risks for U.S.-based multinational companies. The product is designed for middle market businesses with up to $700 million in annual revenue.

With GCSS, for the first time, brokers can access on behalf of customers AIG’s U.S. domestic, foreign, and excess casualty

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