Whether you have employees abroad already, or are considering expanding into new territories it is vitally important that the right insurance coverage is in place to ensure the health and safety of your staff.Finding the best international medical insurance for your company or business is certain to be a time-consuming task, and one which is full of “insurance speak”, unusual terminology and solutions that can look to be the same.
This is one of the many reasons that an experienced and knowledgeable broker can be an essential partner in growing and protecting your business overseas. In choosing your international health insurance there are a number of key considerations such as:
- What level of cover do we need?
- Is the insurance provider licensed or recognised in that country?
- Are medical facilities in-country up to scratch or should treatment elsewhere be considered?
- Are the benefits on offer sufficient for that country?
- How can we keep costs down?
Using a broker will save a company time, stress and money! In addition, using a Lloyd's Broker (such as Xact Expat) also opens up a "one stop shop" for sourcing expatriate insurance solutions for everything from Group Travel, Life, Personal Accident and Kidnap & Ransom cover to name but a few.
Where a Lloyd's Broker can also be especially helpful is where there are "special risks" that need to be covered. A "special risk" is where cover would not normally be offered under standard insurance terms. Many "off the shelf" insurance plans have exclusions on them which could be inconvenient at the very least.
Certain jobs, sporting activities (whether professional or otherwise) and whole countries could be excluded. Using a Lloyd's broker gives access to more specialist insurances and underwriters to make sure you get the cover you need.