With the evolving nature of High Cost Specialty Drugs and the constant threat of Catastrophic Emergency Travel medical care claims, many organizations are looking for solutions to mitigate the financial exposure and balance the cost of obtaining this coverage. By partnering with reputable global carriers, RMA has developed an alternative to current per person excess of loss and aggregate stop-loss solutions offered in Canada. The solutions is available for both insured and self-insured programs.
Various attachment points available starting at $10,000 per person and 107.5% of expected claims for aggregate stop-loss covers.
Loss of Licence
The Loss of Licence benefit is an innovative offering which was originally tailored to the aviation industry and marine industries. In the event of a License being revoked by the applicable licensing authority due to an accident or sickness resulting in a permanent and total disability, a non-taxable lump sum benefit is paid out.
For individuals where no formal license is required such as cabin crew members, the permanent loss of Flying Status1will trigger a benefit payout. The cost varies by age, group profile and size of the group and various exclusions may apply2. Coverage may be extended to other industries where the permanent loss of license is medically driven.
1 Flying Status is the ability to be employed on a permanent basis as Cabin Crew having achieved the necessary medical standards but where no license or certificate is issued.
2 Pre-existing conditions (i.e. illness and accident) exclusions may apply.
Incurring an accident or illness while travelling, whether for business or leisure, can be a devastating experience, both financially and emotionally. Current market offerings provide comprehensive coverage and assistance services in the event of a medical emergency. That said, the solutions are reactive in nature and present numerous gaps in other circumstances such as ‘natural disasters’, ‘political instability’, and ‘terrorism’.
RMA has partnered with a Global Crisis Assistance firm to offer a preventive Assistance program to the Canadian Travel Insurance Market. Features of the program include:
• Pre-funded services;
• Fulfillment of “Duty of care” responsibilities;
• Real-time security notifications and emergency evacuation for plan members; and
• 24/7 access to Crisis Response Centre.
For more information, please contact us.