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Stop Loss coverage is mainly for new IGP clients who want to limit or eliminate the likelihood of a deficit being carried forward.
Companies participating in the IGP Stop Loss system agree to receive a reduced international dividend in years when experience is good, in exchange for having all or some of their aggregate 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.
No deficit is carried forward in years when the Contribution to the International Account is negative.
The Deficit Carried Forward is limited to a certain percentage of the Total IER Premium each year.
The Deficit Carried Forward is limited to a certain fixed dollar amount each year.
Any annual accumulated deficit on a unit basis that has not been recovered after two or three years is forgiven after that specific period. The oldest deficit is deemed to be recovered first.
Other forms of stop loss can be examined.
Click here to learn more about IGP’s Stop Loss product.
