FAQ's
Frequently Asked Questions
Insurance is one of the most regulated industries in the world for very good reason. International Private Health Insurance- which can straddle multiple jurisdictions and offer widely-differing standards of both Underwriting and coverage- can be an incredibly complex issue to navigate for those not in the industry.
Please feel free to use the questions below to help you when looking at Insurers or Brokers for your school.
1) Who is the insurance policy Underwritten (guaranteed) by? What is their financial rating?
3) In which jurisdiction is the Risk for the insurer ultimately held?
5) (For Brokers) Where are you licensed? Where are you domiciled? Which governing body has professional oversight in the way your business is conducted?
7) What are the differences in cost to the school when purchasing insurance directly from an insurer rather than via a broker?
9) Under which jurisdiction are disputes adjudicated? In what language are they adjudicated?
11) What is the minimum group size? How does group size impact the Terms offered?
13) Are you able to provide references from schools happy with this product?
15) Does the policy offer coverage for pre-existing or chronic conditions?
17) What procedures do I need to follow in cases of planned hospitalisations? What is the procedure for accidents?
2) What jurisdiction is the insurance written in?
4) Does the insurer have a legal obligation in this jurisdiction to communicate with clients in a transparent, fair manner?
6) If an insurer is unable to meet its financial liabilities, what kinds of consumer protections are in place?
8) What are the advantages and disadvantages of using a Broker rather than purchasing directly?
10) Does the insurer offer coverage only for groups or will they accept individual members?
12) Is the Insurance portable for those leaving the school?
14) How can members submit and track claims? What is the typical turnaround for this?
16) Are alternative treatments covered?
18) Does the insurance company provide comprehensive data and claims information to explain the drivers in any renewal increases? Is the insurer willing to discuss how renewal rates are calculated?