Zurich adds medical stop loss product for national carrier-administered programs
Zurich North America is launching a medical stop loss insurance offering for larger employers with self-funded group health plans administered by national carriers. The new admitted product is the result of a collaboration with Medical Risk Managers (MRM), a program administrator based in South Windsor, Connecticut, that specializes in writing medical stop loss in this space.
“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.”- Head of Specialty Health for Zurich North America, Edward Tyburski.
Zurich and MRM have collaborated previously and understand each other’s structure and values. That helped Zurich finalize the arrangement and launch the offering ahead of the typical January peak period for writing medical stop loss coverage. “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.” – MRM President, Mehb Khoja.
Stop loss insurance is purchased by employers who self-fund their employee benefit plans but do not want to assume 100% 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.