Corporate Insurance Plans - Global Health Asia

Review : Innovative Private Medical Coverage


GlobalHealth Asia offers plans to enhance your corporate, organization or association employee benefits program while helping you to manage the health of your employees or members. With special Group Rates available, these plans provide:

* Customized Benefits
* A streamlined underwriting approach
* Blanket coverage for all pre-existing conditions and removes any waiting periods.
* Wellness benefits including check-ups and vaccinations
* Premium discounts off our standard rates

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Corporate Governance for Insurers

At the end of 2009 the Indian insurance market regulator, the Insurance Regulatory and Development Authority (IRDA), issued its Corporate Governance Guidelines for Insurers. This is a lengthy and comprehensive document containing a combination of specific measures and general guidelines to be adopted and implemented by Indian insurers by April 1 2010. The guidelines are supplemental to the requirements of the Companies Act 1956, the Insurance Act 1938 and any other law on the basis that where any provision of the guidelines conflicts with another enactment, that other enactment will prevail. However, where the requirements of the guidelines are more rigorous, they will take precedence.

There seems to be a number of driving forces behind these guidelines, including:

• the unprecedented revelations of the financial irregularities at Satyam;
• the impact of the credit crunch on a number of overseas insurers; and
• the perceived importance of the financial sector in general to Indian economic growth and the public at large.

Of equal importance is the fact that in the coming years a number of Indian insurers are expected to come to market for the first time. According to Section 6AA of the Insurance Act, the existing position is that the Indian promoter of an Indian insurer cannot hold more than 26% of the paid-up equity. For a newly formed insurer, a holding above 26% must be gradually brought down to 26%, starting at the latest from the 10th year after the insurer commenced business. A number of insurers will be commencing their 10th year in the near future and the IRDA has already announced that it intends to publish its guidelines on insurers making public offerings soon.

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Corporate Insurance - No One Policy Covers Everything

Corporate insurance plans are much more important these days. Adequately covering directors and officers is much harder and more expensive. The risks and liabilities are much better defined - but also much more severe. Investors need to make sure that the right coverage at the right price is firmly in place.

The board of directors has a fiduciary responsibility to protect the assets of the company they serve. Good governance involves the use of insurance for various predictable risks. Some companies opt to self-insure for some risks, a strategy to employ when a company has a large number or employees or a large amount of control over the activity they are self-insuring against. If a company chooses to purchase insurance against risk, a good understanding of the policy chosen is important. In today's litigious society, a company, CEO or corporate director cannot afford to be without coverage.

When reviewing corporate insurance policies, directors or committees should pay particular attention to exclusions. Exclusions are items not covered by a particular insurance policy.
The following are three main reasons why certain issues are not covered:

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Insurance plan for high-risk areas considered

A NEW insurance scheme for people most at risk from flooding could be established by the Government, Tanaiste Mary Coughlan said yesterday.

Ms Coughlan said that she was willing to examine a national insurance scheme for those who lived in flood-prone areas .

The scheme would be backed by the Government and designed for those whose homes are so at-risk of being flooded that insurance companies are unwilling to sign them up.

The €10m flood aid package will not go to people who have their property insured

- Aidan O'Connor

Irish Independent

Five life insurance groups unite to battle Moore’s assertions on COLI

Five life insurance industry organizations have joined to combat what they say is a mischaracterization of corporate-owned life insurance by Michael Moore in his movie, “Capitalism: A Love Story.”

The documentary includes a small focus on COLI, which has led to additional media reports alleging that business owners are obtaining life insurance policies on their low-level employees without their knowledge. Nearly two decades ago, some business owners used COLI to obtain broad coverage of low-level workers – “janitor’s insurance” or “dead peasant’s insurance” – not for the corporate insurance plan benefits, but as a tax shelter.

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What Makes a Great Health Insurance Plan Great

There are many important things in life, but one that most would agree on is good health. Without good health, the quality of life suffers. So, finding the perfect health insurance should be top priority in your life. The best and most affordable plans are out there ready to be found and used; the only problem is you just have to find them.

A Great Plan have these common key components:

• In case of a catastrophic medical event in your life, you will need to make sure you have coverage that is high enough to meet and exceed those types of situations.
• An out-of-pocket expense account, or also known as self insured, you need to be self insured up to a specified dollar amount that you have in mind.
• Leave the amount coverage unlimited in certain areas such as daily room charges or surgical procedures. If this need did arise, the insurance will cover any unforeseen surgeries or extra days in the hospital room.
• You need to be able to see any type of specialist regardless of global location and without having to get referred.
• With so much traveling these days, global insurance coverage is a must.
  
  thanks to Brent Cross

• Global Health Asia plans provide comprehensive medical insurance coverage for you and your family wherever you live, work or play.
  
  Personal Medical Insurance Plans
  Family Medical Insurance Plans
  Corporate Health Insurance
  Insurance Plan for Expats

actions people can take to stay healthy

Health Tips

Global Health Asia continues to closely monitor the situation.

From the CDC website the following precautions should be taken:

There are everyday actions people can take to stay healthy.

• Cover your nose and mouth with a tissue when you cough or sneeze. Throw the tissue in the trash after you use it.
• Wash your hands often with soap and water, especially after you cough or sneeze. Alcohol-based hands cleaners are also effective.
• Avoid touching your eyes, nose or mouth. Germs spread that way.

Try to avoid close contact with sick people.

• Influenza is thought to spread mainly person-to-person through coughing or sneezing of infected people.
• If you get sick, CDC recommends that you stay home from work or school and limit contact with others to keep from infecting them.