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Globality Health Latest News

Globality Health Strengthens Network Management With Appointment Of Ronald Pritchard

Globality Health is proud to welcome the appointment of experienced senior operations manager, Ronald Pritchard, as Head of Network Management. His mission is to optimize working relationships with partners and the medical provider network, with special emphasis on operational and financial efficiency. He joined Globality...

18-05-2016 iPMI Magazine Executive Appointments Movements News

Globality Health Names Michael Kløcker As New Chief Commercial Officer

As of 1 May, Michael Kløcker is the Chief Commercial Officer of the international health insurer with a special focus on expatriates, Globality Health. His appointment completes Globality’s Board of Management, allowing interim CCO Gregor Schulte to focus on his core role as Chief Financial Officer. "I...

05-05-2016 iPMI Magazine Executive Appointments Movements News

Globality Health Continues UK Market Expansion With Appointment Of New UK Regional Sales Director

Globality Health, the international medical insurer with a special focus on expatriates is excited to announce the appointment of Mr. Gavin Royston, as UK regional sales director. With a wealth of iPMI industry experience spanning over 13 years, including 8 years at Bupa and 4 years posted...

22-06-2015 iPMI Magazine Executive Appointments Movements News

Globality Health Introduces New CEO

Munich Health, the health segment of Munich Re, has appointed Roman Beilhack as new CEO for Globality Health. The appointment is the next step in a comprehensive development program for Globality Health, the international health insurer with a special focus on expatriates within Munich Re. Beilhack...

07-11-2014 iPMI Magazine Executive Appointments Movements News

Globality Health Partners With UAE’s Leading Health Insurer Daman

By partnering with the National Health Insurance Company - Daman, Globality Health is extending its full international health insurance offering, including 24/7 emergency medical assistance and medical evacuation and repatriation services, to the United Arab Emirates (UAE). The partnership with Daman allows Globality Health`s clients...

04-11-2014 iPMI Product News

Globality Health Take Lead Sponsorship Position On Maritime Labour Convention 2006 Round Table Business Forum

iPMI Magazine is proud to announce Globality Health has taken the lead sponsorship position on the upcoming Maritime Labour Convention 2006 Round Table Business Forum. Mr. Philip Wright, Chief Commercial Officer at Globality Health will take the head of the round table. The Maritime Labour Convention...

13-03-2014 RT Delegate Sponsor News

EuroAlarm Joins The Globality Health Global Network

Globality Health is strengthening its global network by partnering with leading international assistance provider, EuroAlarm, to provide full international care, including 24/7 emergency medical assistance, medical evacuation and repatriation services, to all group and individual clients. A full support service that clients can depend upon...

03-12-2013 iPMI Magazine Breaking News

iPMI Conferences 2014

Team iPMIM are currently very busy researching a health and medical insurance conference for 2014. We are now at a stage where we need your input. iPMI Conferences (http://ipmiconference.com) facilitate dialog and debate between the various sectors of the international healthcare business. Insurance companies, assistance networks...

08-11-2013 iPMI Magazine Breaking News

New Cover For The Untapped Seafarers Market From Globality Health

Globality Health responded to the need for appropriate insurance for seafarers by partnering with Crewsure (crewsure.com) to offer clients innovative insurance products. From August 20th 2013 all vessels over a certain size have to comply with a new labour convention known as the Maritime Labour...

19-08-2013 iPMI Product News

Globality Health Introduces A New International Health Insurance Plan For Individuals - Yougenio® World

Globality Health has launched its new international health insurance plan for individuals, YouGenio® World. It is replacing YouGenio® with a large number of improvements to the current plan levels Classic, Plus and Top, such as full cancer care. In twelve-months the product development team has...

16-04-2013 iPMI Product News

Generali Global Assistance Releases 2017 Recap For Travel And Insurance Trends

Generali Global Assistance's Travel Insurance division has released its findings on travel and insurance trends – compiled from the Company's proprietary data on insured travel – from the 2017 season.  

For the year, the average cost of a trip that travelers insured was $1,883 – a precipitous drop of 19% compared to 2016. As a result, the average premium also declined to $139 per trip. The average number of people on each plan remained unchanged at 1.75, as did the average trip length which held steady at 9 days per insured trip. The average days between trip purchase and departure dropped slightly from 88 in 2016 to 81 last year.

Commenting on today's news, Chris Carnicelli, CEO, Generali Global Assistance said "As travel insurance and its myriad benefits become better understood, people are choosing to insure trips at a lower price point than they did in the past. This is encouraging to see as we, and the industry at large, have placed greater emphasis on transparency to clear up misconceptions that surround travel insurance."

The vacation rental space by contrast was little changed last year in terms of trip cost and duration as "Vacation rentals tend to be a high repeat business and therefore fluctuate very little in terms of average trip cost as families tend to rent the same property for their vacations year in, year out," said Carnicelli. In 2017, total average trip cost increased 4% - in-line with average rental fee increases – and average duration remain unchanged at 6 days. Unlike general travel, vacation rental travelers were more concerned with purchasing insurance earlier with the average number of days between departure and purchase rising from 86 to 89. "The vacation rental industry is in the midst of tremendous growth and competition for properties is fierce. We expect vacationers to continue to book their rentals further and further out to ensure they get the properties they want," Carnicelli added.

In 2017, insured cruise trips decreased by 13% compared to 2016, while insured air travel trips rose by 27%. The top three airlines consumers booked insured travel on were Delta, United, and American and the top three most booked cruise lines were Royal Caribbean, Carnival, and Celebrity. The top five destinations for travelers in 2017 remained unchanged from 2016 –  Alaska and Asia swapped spots, Australia moved up one slot, South America dropped out of the top ten and Hawaii edged in. 

Top ten most booked destinations by travelers (compiled from the Generali Global Assistance's proprietary data on insured travel) were:

2016

2017

Caribbean

Caribbean

Europe

Europe

U.S.

U.S.

Bahamas

Bahamas

Mexico

Mexico

Asia

Alaska

Alaska

Asia

Canada

Canada

South America

Australia

Australia

Hawaii

Carnicelli continued, "This past year was seemingly dominated by natural disasters, and man-made events, like the Outer Banks power outage, that disrupted travel. On average we saw claims on medical, evacuation, and repatriation services rise by 78% last year compared to 2016. As these types of events continue to become more commonplace, travelers will continue to show more interest in protecting their trip investments. At the same time, we will continue to increase the ease and efficiency of our offerings as well as education on our products to help capture this increased demand." 

iPMI Magazine International Private Medical Insurance Providers Network Directory February 2018

Featuring leading IPMI players Aetna International, Bellwood Prestbury, Cigna Global IPMI, DavidShield, Generali Global Health, GeoBlue, Globality Health, Integra Global, Pacific Cross International and Wellaway. Plus check out the back of the publication for the broker directory. Did you claim your free line entry? Get listed, click here and fill in the quick form

“If you want to succeed in the Global IPMI business, I highly recommend that you get to know Christopher Knight.”Michael Nole Head of Business Development Global IPMI at Cigna.

Choosing the right international private medical insurance (IPMI) and health insurance coverage plan is critical for expatriates, offshore workers, tourists and business travellers. If you live, travel or work abroad then you will need the best access to private medical facilities and international medical insurance all year around. iPMI Magazine represents an eclectic mix and has a choice of specialist international private medical, health, expatriate and travel insurance companies allowing you to compare overseas international private medical insurance coverage and plans that may suit you and your family. 

The iPMI Magazine Provider Network Directory covers the following sectors of insurance cover:

INTERNATIONAL MEDICAL INSURANCE
INTERNATIONAL HEALTHCARE INSURANCE
INTERNATIONAL EXPATRIATE INSURANCE
INTERNATIONAL TRAVEL INSURANCE

Get listed, click here and fill in the quick form.

 

Insurers Place An Increasing Emphasis On Creating Long-Term Bancassurance Partnerships

Insurance companies that want to expand internationally face substantial distribution challenges: how do they establish their brand and how do they reach new customers? One way for them to try to solve these problems is through creating sales partnerships with leading banks, which gives them access to a new customer base using the bank's own brand. According to new research about global bancassurance strategies published by Finaccord, BNP Paribas Cardif is the insurance group holding the most bancassurance partnerships among the world's 500 largest retail banking groups, followed by AXA and MetLife.

Based on an investigation into the consumer banking operations of the top 500 retail banking groups worldwide (spanning over 100 countries), Finaccord's research established that BNP Paribas Cardif was being utilised as an insurance partner for at least one bancassurance product by a total of 81 of the 500 banking groups. The France-based insurance group was followed by AXA with a total of 78 partnerships, and MetLife with a total of 75 agreements. Overall, among the 20 most prominent insurance groups in terms of their number of relationships with the top 500 banking groups, ten originated from Europe, five from North America and five from the Asia-Pacific region.

"Competition among international insurance groups for bancassurance partnerships has been intense in recent years", comments Stefan Wagner, a Consultant at Finaccord. "This is a consequence of the high or rising importance of bancassurance as a distribution channel in a number of insurance markets including China, Indonesia and Thailand in the Asia-Pacific region, Poland and Spain in Europe, and Brazil and Mexico in Latin America. In addition, many banks have expanded substantially their offering not only into new product areas but also into alternative sales channels, including digital distribution, which has created more partnership opportunities for insurers."

Finaccord's research also classified insurance groups' partnerships with the 500 banking groups according to whether they were set up either as joint ventures, as strategic, long-term relationships, or as less substantial, ad hoc distribution partnerships. With regards to joint ventures and strategic agreements among the 500 banking groups, AXA is the insurance group with the most such arrangements at 15 (breaking down between eight joint ventures and seven strategic relationships). It is followed by BNP Paribas Cardif with ten, Allianz with nine, Aviva and MAPFRE with eight each, and MetLife with seven.

"While the total number of partnerships is certainly a helpful measure to identify key insurance groups in the global bancassurance market, it is also important to look at joint venture and strategic partnerships as these commonly have a long-term focus and often generate substantially more revenue than looser distribution agreements", concludes Stefan Wagner. "As such, international insurance groups are increasingly seeking these types of deal. For example, major agreements established during 2017 included those of Allianz with Standard Chartered and of Chubb with DBS, both for non-life insurance and spanning multiple countries in the Asia-Pacific region."

IPMI Boom: Survey Reveals UK Businesses Plan More Overseas Assignments In 2018

According to an independent survey of 200 HR professionals commissioned by Collinson, a leading provider of white label iPMI solutions, nearly half (46 per cent) of respondents expect more staff to be sent on long-term international assignments over the next three years.

Of these, 13 per cent see numbers rising by between 10 per cent and 20 per cent, the average being 7 per cent. This compares with 15 per cent who see a decrease in the number of international assignments and 37 per cent who do not expect a change. 

Lawrence Watts, Collinson's Commercial Director, said, "Our survey findings show that more companies are realising the huge benefits associated with sending staff to work overseas. It helps develop leadership and problem-solving skills, encourages collaborative working, strengthens company loyalty and attracts new employees who increasingly view international assignments as an enormous opportunity.

"The results could also indicate that some businesses plan to move some of their operations away from the UK following its withdrawal from the European Union.

"However, what is clear is that the iPMI market is enjoying heavy and sustained growth as companies seek to protect staff working abroad and prevent international assignments failing, which comes at enormous cost. Insurers need to capitalise on this and ensure they offer a comprehensive range of iPMI services to stay competitive."

Collinson's research also revealed shifting trends when it comes to demographics. Nearly a third (31 per cent) of respondents said that more staff under the age of 34 were being sent overseas, more than double the percentage who stated it was older staff (over 45).

Peter Sewell, Regional Director (UK, Ireland and Northern Europe) at global mobility consultant Crown World Mobility, said, "These statistics are interesting because they highlight a world of global mobility which is changing. There are big political influences of course - such as Brexit - but there are also important sociological drivers too.

"The days of long-term international assignments being only for middle-aged western expats on big bonus packages are long gone. These days millennials see working abroad and experiencing different cultures as integral to their cross-culture competence and general development. Corporations see it as a way to identify and develop managers early.

"In that sense international assignments are becoming an important part of talent development and talent retention. The challenge for corporations, on an increasingly tight budget, is how to ensure assignees are safe, supported and successful while they work abroad, especially when sent to challenging locations. A big part of this is managing travel risk effectively and planning for every contingency."

Independent survey commissioned by Collinson and conducted by Atomik Research in August 2017.

For further information, please visit www.collinsongroup.com.

 

Winter Olympics: International Assistance Group’s Accredited Provider In Position For Gold Medal Service

With the PyeongChang Winter Olympics and Paralympics set to take place between 9th and 25th February, International Assistance Group’s Accredited Service Provider for South Korea, Global Assistance Partners, has highlighted some of the challenges that could be faced in obtaining medical care and the measures put in place to deal with them.

 “There are two general challenges that will be faced in the Olympic area,” said Mr Gna Chung the Chief Executive of GAP. “Language barrier of local medical staff as most of the staffs are native Korean, plus the level of nursing support after admission due to lack of manpower.” He goes on to add: “We will establish GAP satellite offices at two tertiary hospitals, GangNeung Asan Hospital and Wonju Severance Hospital, where our staff can be called on to assist – providing the necessary local language skills as well as assessing the level of nursing support that may be needed. These will be supported by our medical staff.”

Whilst medical facilities are generally to a Western standard in South Korea, the increased number of visitors may place demands on the medical infrastructure particularly if they feel more comfortable by resorting to large medical facilities.  Additionally, the remoteness of some locations will pose a logistical challenge. In preparation, GAP visited all levels of medical facilities and produced an information pack for use by all IAG Partners in an effort to spread the workload utilising the most appropriate facility and transportation options.

Cécile Hermetz, the General Manager at the IAG states: “Global Assistance Partners has already established a reputation within the IAG for the quality of service they provide. With IAG Partners, across the globe, having many travellers to cater for in this period, GAPs preparation and plans are important to ensure that this high quality is maintained during such an important event.”

The number of expected visitors to PyeongChang 2018 varies depending on the source of information and the variety of challenges faced regionally. The Yonhap News Agency reported that 83,000 tourist visitors are expected in addition to 2,900 athletes, based on data from the International Olympic Committee (IOC).

APRIL UK Makes New Appointment

APRIL UK has made an important appointment this month as it continues to strengthen its broker development team.

Lisa Aggett joins as Broker Development Manager and will focus on broker relationships in the South West region. Lisa has previously worked at both The Exeter and Cavendish Online.

Sarah Buck, CEO at APRIL UK said, “We have exciting expansion plans for our broker distribution team in 2018. Following the recent appointments of both Jon Legge as Sales Director, and David Pooles as Head of Intermediary Sales, I’m delighted to now have Lisa on board. Lisa again brings a wealth of experience and knowledge to APRIL UK and has an excellent understanding of how to work effectively with the broker market. With such a strong team in place, along with a continual programme of product development, we look forward to developing our broker proposition further.”

APRIL UK is trading name of APRIL UK (Insurance Services) Ltd (registered in England No 3179382), who is authorised and regulated by the Financial Conduct Authority, registration number 308655. Registered office: April House, Almondsbury Business Centre, Bradley Stoke, Bristol, BS32 4QH.

Anvil Launches New International Medical Assistance Service

Anvil Group has officially announced the launch of its in-house international medical assistance service, Anvil Assist. This significant investment by Anvil makes it the only provider to offer clinician-delivered medical assistance as part of a fully integrated in-house end-to-end risk management solution.

Based out of Anvil’s existing global operations centre in the UK, Anvil Assist provides multilingual 24/7 medical and security assistance for clients wherever they may be. With more incidents now demanding a coordinated medical, security and travel response, Anvil’s comprehensive in-house service is designed to cover any event that could impact the health, safety or wellbeing of a corporate traveller or expatriate.

Matthew Judge, Anvil’s Group Managing Director comments, “Exceptional care is about individuals not case numbers. That’s why Anvil now operates the only fully clinician-delivered medical assistance service, underpinned by an independent network of clinical facilities. For Anvil clients, this means that their people will always speak directly to a trained medical professional when they need to, and have access to the highest quality care wherever they are in the world.”

He continues, “Having partnered with medical assistance providers for many years, we understand how important this service is for clients. However, clients are now demanding a far more joined-up approach to medical and security assistance provision and rightly so. It’s taken a significant investment for us to bring our own clinicians on board, but it’s something we are passionate about doing and we’re extremely proud of the service we can now provide.”

An extension to Anvil’s existing global operations hub, the emergency response centre is staffed round-the-clock by a multilingual team of highly qualified and experienced first responders and clinical professionals. They directly manage all medical cases – from pre-deployment screening and clearance to travel, initial diagnosis and local treatment to repatriation and post-travel care.

The highly skilled team is headed up by Dr Juliane Kause BSc, MBBS, FRCP, AKC. A Fellow of the Royal College of Physicians, Dr Kause is a specialist in acute and critical care medicine and a founder member of the international Society for Rapid Response Systems. She also has over 20 years’ experience as an aeromedical physician.

Matthew Judge comments on the appointment, "We're thrilled to have Juliane on board as our Chief Medical Officer. Her critical care and medical management experience will help us to deliver a service that really is second to none.”

Anvil’s decision to bring medical assistance in-house is enabling the provider to now offer clients a far more connected approach to medical and security assistance provision. It also allows Anvil to ensure that they are offering clients the very best possible care, not just during an incident but afterwards. Anvil is the only medical assistance provider to offer post-care, ensuring individuals who have experienced medical issues abroad or been caught up in a major incident are mentally and physically well, and able to successfully complete their treatment and return to work.

Judge concludes, “With over 30 years’ experience, Anvil has encountered virtually every assistance scenario imaginable. By making medical assistance part of our core in-house service, clients can now receive an even faster joined-up response that returns their people to health and restores business as usual as soon as possible.”

Key Reasons For IPMI Price Hikes And What Employers Can Do About It

Many employers have experienced significant increases in the premiums that they pay for international private medical insurance (IPMI). 

Key causes of price rises

It is normal to expect a 10-15% increase in the cost of insurance year on year but many companies have recently been faced with far greater increases which they may not have been expecting. There are a number of factors that are forcing the price of premiums up so steeply including increased regulation, greater demand for quality care and the rising cost of care in some locations. 

The demand for good quality private care is rising, as individuals look for greater choice in how and where they are treated. People are also looking for access to the latest advanced medical technology.

In some locations, there is a greater propensity for hospitals to offer leading-edge or experimental treatments that are much more expensive. Singapore and Hong Kong have been acknowledged as countries where insurance costs are higher because of their willingness to offer these types of treatments.

Three tips for controlling the cost of IPMI

Given the varied costs, availability of medical infrastructure and changes to regulation in different countries it is critical that employers get expert advice when reviewing their international medical insurance

Three areas to consider are: 

  1. Whether it is cheaper to have a single policy to cover all locations, or local cover especially for high-cost countries

It may be cheaper to have one single IPMI policy to cover all staff locations or to have local cover for some specific countries. Employers should seek advice from a specialist broker who will be able to advise on the most appropriate way to help control costs whilst still ensuring the most suitable level of international cover for the company's specific needs.

  1. Looking at providers with access to better value medical facilities

Some providers are able to access good quality medical care at facilities that are more competitively priced. Employers should look to compare what is available to ensure they are getting good value as well as high quality care.

  1. Reviewing what to include and exclude

It may also be beneficial to review what is included or excluded in the policy and how that relates to the likely needs of the overseas staff being insured. For example, childbirth can be very costly to include and may not be relevant in some circumstances.

Sarah Dennis, head of international for The Health Insurance Group said, "Helping control the costs of IPMI cover is a core part of the value that brokers should be delivering. Companies need to draw on the international expertise of their broker to find the most cost-efficient policies whilst still providing the appropriate level of cover for staff.:

It is essential that employers discuss the best way to control costs. With expert advice, premiums may be reduced through centralised or local policies, changing what is included in the policy or seeking providers who can offer access to less expensive medical services.

 

Cigna Appoints Phil Austin To Expanded Leadership Role In Europe - Announces New European Structure

Cigna, a leading global health services company, today announced an expanded role for Phil Austin as Chief Executive Officer, Europe, and a restructured European team.

As part of the international Health Solutions leadership team, Phil is accountable for leading Cigna’s strategic market development to drive accelerated growth in Europe. He will continue to report to Howard Gough, Chief Executive Officer for Europe, Middle East and Africa. 

Phil joined Cigna in 2002 as Partnership Director for the UK HealthCare Benefits business. He has held a number of leadership roles within the business, including Health, Life & Accident (HL&A) Europe Sales and Marketing Director, Interim CEO for HL&A Europe, and Managing Director for Cigna’s domestic health care businesses in UK and Spain. 

Phil spearheaded the strong growth of Cigna’s Global Individual Private Medical Insurance (IPMI) business, which provides solutions for high net worth and globally mobile individuals in more than 150 countries. Phil moved into the role of Managing Director for Cigna’s UK domestic health care business in 2015. Most recently he has been responsible for overseeing the development and launch of the award-winning Cigna Virtual Health® – a market first in integrated digital health care solutions for employers in the UK.

Commenting on Phil’s appointment, Howard Gough said: Europe is a very important market for Cigna as it is for our clients, customers, broker and provider partners. We have a strong foundation of scale, service excellence and innovation to build on. As such deploying one of our top talents to the region was a critical and deliberate strategic move, and with Phil he brings a depth of experience from not only within Cigna but through his many years leading the way in the health insurance industry as a whole. I am excited that Phil will lead our European businesses through the next phase of growth enabling all our customers and clients to benefit from our industry leading global capabilities as well as our deep rooted local expertise.”
 
In addition to Phil Austin’s expanded role, the newly restructured European team will see four further appointments, each reporting to Phil Austin. 

Liam Hughes will become European Sales & Client Management Director. This role spans both the global employer and local domestic businesses. 

Liam joined the company in 1990 and moved into Global Health Benefits in 2007. In his new role, Liam has overall control of the large corporate and SME business, which involves overseeing the profitable growth and retention of Cigna’s European portfolio, through supporting their sales targets and new market initiatives. 

Will Shaw will assume the role of Sales Effectiveness Director. In this role he will have responsibility for all areas of sales effectiveness supporting our European Sales and Client Management team on our go to market strategy. 

Will joined Cigna in 2001 and undertook a variety of roles in new business, sales and client management. He was promoted in 2014 to Sales and Client Management Director for the UK domestic health care business.

Frank Indestege will become EU Partnership and B2G Director, responsible for implementing our partnership strategy across Europe and driving our sales strategy for the Business to Government segment.

Frank has almost 20 years’ experience in business development, gained at Cigna Global Health Benefits, Europe, Vanbreda International, and Globality Health. Previously Director of Business Development at Cigna Global Health Benefits, in his new role as Market Development Director, Europe, Frank is responsible for business development projects and strategic partnerships across Europe.

Amy MacKay also takes on a new role and has been appointed EMEA Head of Broker Relations and Cross Sell, with a full regional remit to optimise sales opportunities and relationships across all our markets.

Amy has been a key member of Cigna’s Middle East team over the past four years, most recently as Market Lead for UAE, our largest Middle East market, and has consistently delivered significant growth for the region.

Phil said: “I am excited to be leading our European businesses and to be working with such talented individuals. Cigna is an ambitious company, and this is a tremendous opportunity for us to strengthen our ability to drive enhanced growth in Europe at a time when global mobility and demand for health benefits are increasing. This new structure will allow us to strengthen our promise to Go Deeper – further expanding our customer, client and partner relationships; Go Local – providing outstanding local expertise and delivery; and Go Beyond – continue to lead through innovation.”

 

 

The United States Welcomes Bermuda With The US Insurance Seal Of Approval

A short two-hour flight east of the United States lies the beautiful island of Bermuda. This small, yet powerful territory has qualified jurisdiction status from the NAIC, (National Association of Insurance Commissioners). This status breeds many benefits, among them, the reduction of collateral requirements for its reinsurers who do business in the US, a victory for entrepreneurs and beneficiaries alike.

Where did it all begin?

Just after the young United States of America gained independence from Great Britain, it was a rugged and difficult time to live.  In 1784, the Bermuda Marine Assurance Company needed a shipment to reach its destination safely and it could simply not afford to fail. It issued, for the first time ever, a policy to cover a shipment of cargo from Bermuda to Philadelphia. From that point, British insurance companies were motivated to appoint and rely on agents in Bermuda and the seed of insurance policies on the island was planted.

Jumping to 1903, a company of Bermudians formed the Bermuda Fire and Marine Insurance company, no other insurance company was formed until after World War 2. Finally, in 1962 the idea of captive insurance sprouted and international insurance was born on the island. And the timeline thickens.

In the 1990s, the lack of insurance companies became clear in the minds of Bermudians and by the 2000’s, its insurance marketplace’s reputation for innovation took a definite foothold in the international markets.

Yet throughout the centuries, nothing has been as all-encompassing as the National Association of Insurance Commissioners’ agreement with the Bermuda Monetary Authority, creating fair, safe, and highly efficient insurance markets between the two countries. Setting in stone the fact that Bermuda is a force to be respected and reckoned with.

“It is a testament to a long-standing relationship coming to fruition, and certain recognition of the trust we both have for our respective jurisdictions” said Jeremy Cox, chief executive officer of the BMA (Bermuda Monetary Authority)

The BMA is an exemplary supervisory authority. Lifting Bermuda into the stratosphere of strong public disclosure requirements, stress tests and risk management, to name a few of its beneficial and robust attributes.

Additionally, the Bermuda Business Development Agency (BDA) paid Miami, Florida a visit recently, as Bermuda extends its pragmatic and effective arms toward the Latin American markets. “We’re seeing a lot more work coming from Latin America, and Miami is clearly a conduit…” said Ross Webber, BDA’s CEO.

High-net-worth Latin American families have called Miami home for a long time, and in the last few years it has had over 35% increase in its tax base. Progressive insurance companies, however, such as WellAway Limited have known this for years. WellAway has developed headquarters in both Bermuda and Miami. To promote products and reach fiscal goals, it’s a sure bet. Visits from Bermudian delegations holding meetings in the Greater Miami Chamber of Commerce, including Miami Mayor Francis Suarez, are a testament to its growing position in the field.

It has been a long journey since that first policy in 1784, but Bermuda does not expect to cease its profitable and positive grasp on the world insurance market. From Miami, to the world. The sky is the limit.

For a list of reinsurance qualified jurisdictions visit: http://naic.org/documents/committees_e_reinsurance_qualified_jurisdictions_list.pdf

For information on Bermuda-based insurance policies visit: www.WellAway.com

By Armando A. Diaz, Writer.
WellAway Limited

For more information about WellAway please visit their micro web site on iPMI Magazine, here.

For information on Expatriate Health Insurance contact WellAway:

Website: www.wellaway.com 
BM: +1 441 296 0651 
FR: +33 1 78 90 38 68 
BE: +32 9 352 00 22 
DK: +45 32 70 99 17 
UK: +44 2036 036 804 
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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International Private Medical Healthcare Expatriate Travel Insurance Plans

A guide to leading international medical, healthcare, expatriate and travel insurance underwriters, companies and providers operating within leisure, expatriate and corporate travel business markets, globally.

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Medical, Healthcare, Expatriate And Travel Insurance

A guide to leading international medical, healthcare, expatriate and travel insurance underwriters, companies, providers, operating within leisure, expatriate and corporate travel business markets, globally.

  •