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Types of Arrangements

Through a standalone pooling arrangement, IGP allows multinational companies to take advantage of their size and reduce the costs of their employee benefits through economies of scale and size discounts. Our Small Groups Pool (SGP) allows small but growing multinationals to benefit from pooling. We also offer Stop Loss arrangements and can address the needs of multinationals that wish to work with a Captive insurance company.

Loss Carry Forward Accounts

General Requirements:

  • Minimum 1,000 pooled lives
  • Minimum 2 pooled contracts

Poolable Group Coverages:

  • Death Benefits
  • Disability Benefits
  • Accident Benefits (Riders)
  • Survivors' Benefits
  • Medical Benefits
  • Insured Pension Benefits

Larger, less volatile multinational accounts are normally self-experienced and generally operate on a loss carry forward basis, whereby the international dividend is based solely on the client's own experience.

For each policy participating in an IGP International Account, positive Contributions to the International Account (CIAs) are credited, and negative CIAs are debited. If the aggregate net result is positive, it is declared as an International Dividend. If the net result is negative, it is carried forward with interest to be recovered from future positive results.

Rolling Deficit Forgiveness (RDF):

Occasionally, an account may produce a large deficit that is not likely to be recovered in a reasonable period of time. IGP's Rolling Deficit Forgiveness (RDF) protects the International Account from having to carry forward a deficit for an unlimited period.

Any unit's deficit that has not been recovered after it has been included in five International Experience Reports will be forgiven after the fifth report is completed. From the first year that a unit's deficit is incurred, the client will know that this deficit will not be carried forward beyond five years.

Click here to learn more about IGP Loss Carry Forward Accounts.

 

 

 

 

Small Groups Pool

General Requirements:

  • Less than 1,000 pooled lives
  • No minimum number of pooled contracts
  • No minimum number of employees
  • No minimum premium required
  • International year ends June 30

Poolable Group Coverages:

  • Death Benefits
  • Disability Benefits
  • Accident Benefits (riders)
  • Survivors' Benefits
  • Medical Benefits
  • Insured Pension Benefits

Generally, smaller, more volatile accounts participate in IGP's Small Groups Pool, which was designed to allow small and growing multinational companies to take advantage of pooling, while at the same time being protected from wide fluctuations in claims experience they would otherwise not be large enough to absorb on their own.

The Small Groups Pool helps protect these accounts by combining their experience to form one very large, more predictable pool. Each year, the participants' experience is combined to determine a net surplus – negative contributors are offset by positive contributors.

Clients whose own experience is positive, are paid an International Dividend equal to their positive result less a pro-rata share of deficits produced by other Small Groups Pool participants. If the client's overall experience is negative, the deficit is recovered by the other Small Groups Pool participants, and individual client deficits are not carried forward to the next year.

Click here to learn more about the IGP Small Groups Pool.

 

 

 

 

Captives

For more than 20 years, IGP has been ceding employee benefits to some of its clients' captive insurers. For clients interested in reinsuring IGP coverages with their captive insurance company, we offer a range of possibilities that can be tailored to meet their specific needs.

For more information, go to: Captive Reinsurance

Stop Loss

Stop Loss coverage is available for those self-experienced clients who are especially risk-averse and want to ensure that their international account never has a deficit being carried forward.

Under a First Dollar Stop Loss system, self-experienced parent companies, by agreeing to receive a reduced international dividend in years when experience is good, may elect to have their losses in years of unfavorable experience forgiven, that is, not carried forward to future years' experience. The amount used to reduce the dividend is effectively the stop loss charge, which is based upon the size and risk profile of the parent's pool.

Although the dividend paid to the parent is reduced in years of good experience; in years of unfavorable experience, the deficit, including the stop loss charge itself, is waived or forgiven.

There is no additional premium paid by either the subsidiary or the parent. Premium amounts, benefits, and policy terms and conditions of local contracts remain unchanged.

Other stop loss options available include: Percentage of Premium Stop Loss, Fixed Dollar Amount Stop Loss, Percentage of Annual Stop Loss and Percentage of Accumulated Loss.

Self-experienced clients that do not have a deficit being carried forward are eligible for stop loss subject to IGP underwriting review.