Mar
11
Medicare International offering health insurance with ‘passive war cover’
Filed Under Expat Insurance, Health Insurance, International Healthcare, Medical Insurance, Middle East | 1 Comment
London-based international medical insurer Medicare International has now added ‘passive war cover’ as an option on its health polices to provide coverage for contractors and workers in war torn nations.
Medicare has recognized there is a growing number of people working in and around zones of conflict in the world and has tried to cater to contractors and NGO staff by offering passive war cover options on top of their regular benefits for both individual and group international health insurance policies.
Senior Executive Director of Medicare International, David Pryor, said “In an age where localised conflicts seem to be ever present, whether in the form of a full scale encounter such as that in Afghanistan or on a more localised basis in other world hotspots, the reconstruction and rebuilding of economies is of vital importance. As a contractor or voluntary worker attached to an NGO, preparing yourself for the reality of entering such areas is a must, as the type of medical care which will be needed is quite different from standard healthcare practice. For those companies involved in reconstruction and aid, attracting the necessary highly-skilled specialists can be helped if they know they can at least have full medical cover.”
While most insurance policies have a complete war exclusion, Medicare International’s policies with passive war cover come with the full range of benefit options such as medical and evacuation, as well as rehabilitation coverage of up to £100,000 (US$149,330) which would go towards reconstructive plastic surgery and prosthetics. The plans with passive war cover also provide cover in the event of a terrorist attack. Medicare International also generally offers premium discounts on groups of 3 or more lives insured.
Companies Mentioned:
With 25 years of providing expatriates top quality international health insurance, Medicare International has grown by ensuring quick and easy access to their services 24 hours a day. The company currently covers clients from 86 nationalities in 114 countries around the world.
Mar
2
AXA Cooperative Insurance Company given Saudi Arabian business license
Filed Under Health Insurance, Insurance Company, Medical Insurance, Middle East | 1 Comment
The Saudi Arabian Monetary Agency (SAMA) has licensed AXA Cooperative insurance Company to carry out its cooperative insurance and reinsurance business in the Kingdom of Saudi Arabia (license number TMN/25/20101).
AXA Cooperative Insurance Company, a Saudi joint stock company, will be AXA Group’s first Cooperative insurance company globally. AXA Cooperative Insurance Company’s initial public offering in Saudi Arabia mid 2009, was 5 times over subscribed; the company currently has a market capitalization of SAR 574,000 (approximately US$153000). AXA Cooperative Insurance Company has already received approval to sell its motor and health insurance in Saudi Arabia and is developing new insurance plans for both individuals and businesses.
Under SAMA’s Cooperative Insurance Regulations, insurance products must be tendered on a “cooperative basis” in a manner consistent both with Islamic Shari’ah and the principles espoused by the articles of association of Tawuniya (previously the National Company for Cooperative Insurance or NCCI). Prior to the enactment and implementation of the Cooperative Insurance Regulations, The National Company for Cooperative Insurance, now Tawuniya was the only insurance company registered to operate in Saudi Arabia.
The cooperative insurance guidelines result in two concrete obligations that AXA Cooperative Insurance Company must conform to, namely that separate bank accounts must be kept for policyholders and shareholders; and that a certain amount of the net surplus from running the insurance operations must be distributed amongst the policyholders.
Companies mentioned:
AXA Group
Headquartered in Paris, France AXA was originally founded in 1816 as Mutuelle de L’assurance contre L’incendie, after acquiring the Drouot Group in 1982 it took on the name AXA. Since that time it has grown into an international insurance business encompassing life & savings, property & casualty, asset management, international insurance and other financial services with over 80 million customers worldwide.
Feb
8
Aetna Global Benefits Targets Middle East and Africa Wellness
Filed Under Aetna, Africa, Insurance Company, International Healthcare, Middle East, UAE Insurance | 13 Comments
In an effort to provide more comprehensive levels of coverage and support to policyholders located in Africa and the Middle East, Aetna, a leading international health insurance company, today announced that it would be launching its Online Wellness Center to support plan members in the region.
Aetna Global Benefits, the international arm of the Aetna insurance company, created its Online Wellness Center to help combat some of the more serious health risks throughout the Middle East and Africa. With a higher preponderance to risk of coronary artery disease, cancer, and serious heart conditions, expatriates and local nationals throughout these regions may often be unaware of the serious health risks posed by everyday life. Aetna has designed their online tool with the aim of educating and informing their policyholders, as well as giving them the resources which they need to find adequate and comprehensive care in the event of a serious illness or untoward accident.
Mark Jardin, the Managing Director for Aetna Global Benefits in Africa and the Middle East stated that the company wants “to engage, educate and motivate members through the AGB Wellness Centre.” Mark was appointed MD of the company’s Africa and Middle East business in May 2009.
One of the primary reasons for the deployment of Aetna’s Online Wellness Center is the preponderance of Cancer throughout the region. Currently, cancer is the second leading cause of mortality worldwide, and responsible for a third of deaths in the United Arab Emirates. Aetna’s Online Wellness Center now gives policyholders in the Middle East and Africa the ability to actively manage their healthcare in light of worsening health trends; something which Aetna hopes will promote healthy lifestyles and living throughout the region.
Insurance Companies Mentioned
Founded in 1853, Aetna is one of the leading health insurance companies in the USA. Continually working on innovating and improving healthcare and services for their policyholders, Aetna is committed to providing comprehensive insurance coverage for American citizens.
Aetna Global Benefits:
The international health insurance arm of Aetna, AGB is able to cater to the needs of expatriates located around the globe. With innovative policies, and dedication to service, Aetna Global Benefits exemplifies the commitment to the customer shown by their parent company.