Tracy H. Simons, President

Administrator and broker for:

Complications Insurance for Medical Travelers

• Who is asking the question…

WHAT IF SOMETHING GOES WRONG?

Who is at risk?What standards of care are you providing?

• The Individual Medical Traveler– Not prepared for unforeseen expenses from a complication – Something goes wrong and there are additional expenses

• Long term and immediate expenses

• Facilitators, Receiving Hospitals and Employers– Clients look to you to solve unforeseen problems during the

course of the travel and while care is being provided– Incur additional expenses of unforeseen emergent care or

corrective care once the patient returns home– A medical malpractice occurrence– Vicarious liability associated with a mishap from implementing

a medical travel benefit

Risks and Protections

• What recourse is available in an international setting?

• Where are the deep pockets?

• What legal system will preside?

• Avenue for recovery – how to make a victim of an accident whole?

• What standards of care have the parties implemented to mitigate the risk?

Risks and Implications of Medical Travel

•Riveting and captivating

•Just checking to see who is paying attention.

• Focus on Risk Management Issues

Risk Management

This topic

becomes much more interesting when

there is

a lack of it

and someone has a financial loss.

Insurance 101

TWO LINES OF DEFENSE

Liability Insurance

Accident InsuranceThe exposure is not as

as you may think.

Liability Insurance for the Entity

• Facilitators and Employers – transfer the risk to an insurer. – Managed Healthcare Liability

• Includes Vicarious Liability – The liability associated with the act of another party

• Includes Defense Costs• Includes Damages and Settlements• Available from a few carriers in the United States for risks

domiciled in the US• You will need a local representative to purchase this type of

coverage in your home country

SECOND LINE OF DEFENSE

• Accident Insurance – to mitigate the risk– First Party Coverage – claimant is the insured

• Makes the injured party whole and mitigates the need for a lawsuit

– Child Care Facilities– Missionary Insurance– Medical Payments of General Liability Policies

What is included?

• Additional Medical or Surgical Treatment as the result of a complication

• Accidental Death and Dismemberment• Disability• Repatriation of Mortal Remains• Family Coordination• Household Modification• Loss of Reproductive Function• 24/7 International Assistance Service

What is the value of GPS?

• Recent Complications Claims– Blood Clots– Dental– Gall Bladder Surgery Claim

• Provide a standard of care to clients to enhance your credibility

• Allow for stakeholders to move forward in the industry by transferring risk to the insurer

• Give patients peace of mind and access to care they may not get otherwise

Points of AccessWho is buying this coverage?

Individual – alone or through medical travel facilitators, appointed agents or directly online

GroupsEmployers are providing this for all employees

when they utilize the medical travel benefit on their group plan

Hospitals/facilitators are including the coverage on every patient to mitigate liability exposure

Insurers are here to help…

• You can transfer the risk to insurers

• This makes the “bleeding edge” of innovation less risky

• Services that excel above the domestic standard for care

• Adds to industry credibility

How do we answer these questions?

• What recourse is available in an international setting?

• Where are the deep pockets?

• What legal system will preside?

• Avenue for recovery – how to make a victim of an accident whole?

• What standards of care have the parties implemented to mitigate the risk?

QUESTIONS?

Tracy Simons

www.globalprotectivesolutions.com

PO Box 5736, Columbia, SC 29250803-799-1770 phone

tsimons@customassurance.com