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Product features.
| WHAT TYPES OF POOL ARE AVAILABLE? There are three options to suit various sizes of company: | |
|---|---|
| Multi - Employer Pool | The Multi – Employer Pool (MEP) is an opportunity for smaller companies with a minimum of 50 UK employees to enjoy the advantages of pooling through combining with other companies. Any claims losses are divided so that no individual member makes a loss whilst a proportional dividend is paid to those companies with a positive claims experience. |
| Stop Loss Pool | A Stop Loss Pool (SL) is designed for companies with over 500 insured lives. Each company will form their own pool and again cannot incur a loss as this is covered by the overall pool protection. |
| Limited Loss Carry Forward Pool | A Limited Loss Carry Forward Pool (LLCF) is designed for companies with over 2,000 insured lives. This system allows companies with their own independent pools to carry forward any negative balances for a maximum of three years. As with the Stop Loss Pool the company cannot incur a loss as this is covered by aggregate pool protection. All dividends are paid by All Net to the parent company. |
| Captive Fronting Programme | There is also another option for larger companies who wish to self insure the risk of their employee benefit programmes. The All Net Captive Solution is an arrangement for multinational companies who have a captive insurance or reinsurance vehicle and wish to cede up to 100% of the risk of their international employee benefit contracts into this vehicle. |
| Type of Pool | Minimum insured lives | Minimum premium per annum | Minimum period |
|---|---|---|---|
| MEP | 50 | Euro 10,000 | One year |
| SL | 500 | Euro 200,000 | One year |
| LLCF | 2,000 | Euro 500,000 | One year |
| Captive | ---- | US$ 10,000,000 | Three years |
For pooled arrangements, insured contracts are needed in at least two countries. There also needs to be at least 50 lives insured under the UK contract of insurance.
Next steps
Multinational pooling gives you the opportunity to speak to your clients about their international risk benefits. It’s important to realise that these may not necessarily be large publicly quoted companies. By offering a multinational pooling option to your international clients as an option to a non pooled scheme set up you may be able to save the client money on their overall benefit costs.
Let us know if your client is already in a multinational pooling arrangement and we’ll make sure we quote accordingly. If they aren’t in a pooling arrangement and have subsidiaries abroad, then we can help explain the benefits and in partnership with All Net, ensure the set up runs smoothly.
For more information on this new opportunity please speak to your normal Group Protection contact or email multinational.pooling@landg.com.
For more information on the All Net network including a list of other worldwide partners, visit https://www.allnet.allianz.com/infoportal_app/app/
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