PHILADELPHIA--(BUSINESS WIRE)--
ACE Group today announced the release of a market report that explores
the complex subject of multinational accident insurance programs. The
report identifies the primary issues risk managers encounter when
placing these programs, and presents a singular solution to address
these concerns — a Controlled Master Program on par with similar global
property and casualty programs. This solution focuses on five key
strategies to consider when evaluating present-day Accident & Health
(A&H) insurance plans. “Capturing Consistency and Control: Five
Strategies to Improve Multinational Business Travel Accident Risk
Management” was co-authored by James Walloga, Senior Vice President, ACE
USA A&H, and Susan Osborne, Executive Underwriter, ACE USA A&H.
ACE USA’s A&H division provides a package of travel accident and
sickness benefits designed for U.S. corporations with employees living,
working and traveling overseas. Coverage components include business
travel accident insurance, out-of-country medical benefits, war risk
coverage, valuable medical and security travel assistance services and
other travel related benefits combined under a single master policy,
integrating locally admitted policies and providing centralized
administration. With a dedicated global service team, ACE provides
custom solutions to meet the unique needs of clients operating around
the world. ACE’s commitment is backed by a superior international
network, financial strength and industry-leading technology.
“Widely divergent compliance requirements, differing coverage terms and
conditions, interpretation issues, the financial stability of local
insurers and managing varying policies’ effective and renewal dates –
these are concerns risk managers and human resources professionals must
contend with daily when overseeing business travel risks from an
employee standpoint,” said Mr. Walloga. “There is a pronounced need for
these executives to have greater control over these global exposures,
and more consistency in their treatment.”
“A Controlled Master Program for business travel accident risks offers
the control and consistency multinational risk managers need to assist a
timely and comprehensive response to these complex exposures,” stated
Ms. Osborne. “A Controlled Master Program is designed to comply with
local insurance laws and regulations, and is underwritten to control the
overall cost of the multinational program through a more coordinated
insurance purchase.”
To access the paper, please visit
our website. The material presented in this report is not intended
to provide legal or other expert advice. It is presented as
informational only. Readers should consult legal counsel or other
technical experts, as applicable, with any specific questions they may
have.
Insurance is provided by insurance companies within ACE Group. All
products may not be available in all jurisdictions. The product
information above is a summary only. The insurance policy actually
issued contains the terms and limits of the contract.
ACE’s A&H division is part of ACE USA, the U.S.-based operating division
of ACE Group. For more information on A&H, please visit
our website. ACE Group is a global leader in insurance and
reinsurance, serving a diverse group of clients. Headed by ACE Limited
(NYSE: ACE), a component of the S&P 500 stock index, ACE Group conducts
its business on a worldwide basis, with operating subsidiaries in 54
countries. Additional information can be found at www.acegroup.com/us.
Source: ACE Group