Zurich Insurance Group's North American business is launching a medical stop loss insurance offering for larger employers with self-funded group health plans administered by national carriers.
The new solution is created in collaboration with Medical Risk Managers (MRM), a programme administrator based in South Windsor, Connecticut, that specialises in writing medical stop loss.
Stop loss insurance is purchased by employers who self-fund their employee benefit plans but do not want to assume 100 percent of liability for catastrophic losses that may arise. Under a stop loss policy, the insurance provider becomes liable for losses above a deductible set in the policy.
Edward Tyburski, head of specialty health for Zurich North America, said: "Zurich's collaboration with MRM enables us to extend our capabilities in medical stop loss to serve the needs of the largest segment of the self-insured market. MRM has a history of successfully underwriting medical stop loss business and has developed relationships and insights that, together with Zurich's knowledge and experience in this space, will deliver a best-in-class offering."
Mehb Khoja, president of MRM, added: "We are pleased to once again be working with Zurich, who shares our commitment to protecting customers and creating high value. Our shared clients will benefit from our depth of data and experience, as well as some of the most dynamic talent in the stop loss segment."
Zurich North America, Medical stop loss, Health plan, Medical Risk Managers, North America