Employee Benefits - Health Insurance. The self-insured option, Medical Stop Loss and the of role captives

Transcription

1 Employee Benefits - Health Insurance The self-insured option, Medical Stop Loss and the of role captives

2 Brendan Barry Greenlight Reinsurance Ltd. Brendan Barry, has served as Chief Underwriting Officer since August Prior to that, Mr. Barry was Senior Vice President since September 2006 when he joined Greenlight Reinsurance Ltd. Mr. Barry has over 20 years experience in the property and casualty insurance and reinsurance industry. Mr. Barry has previously served as Vice President of Platinum Underwriters (Bermuda) Ltd. and Senior Underwriter for Hannover Reinsurance (Ireland) Ltd. where he managed a diversified portfolio of reinsurance transactions. Mr. Barry holds a Bachelor of Arts from the National College of Ireland, a post graduate diploma in statistics from Dublin University (Trinity College) and an MBA from Smurfit School of Business (University College Dublin).

3 Daniel Boisvert International Insurance Agency Services, LLC Mr. Boisvert has been active in the global insurance and reinsurance markets since He is currently the CEO of International Insurance Agency Services, LLC a Medical Stop Loss MGU based in Chicago, Illinois. Mr. Boisvert began his career as a medical stop loss and personal accident underwriter with International Accident Facilities, Inc (IAF) a subsidiary of London-based broker Crawley Warren Group, plc. Mr. Boisvert was quickly promoted to regional vice president, then to senior vice president, and eventually, to executive vice president of IAF over a five year period. In August 2000, Mr. Boisvert completed a management buyout of IAF and established GreenWood International Insurance Services, Inc. (GWI). Mr. Boisvert was the president and CEO of GWI from Mr. Boisvert negotiated the sale of GWI to Pan American Life Insurance Company in May Mr. Boisvert served on the board of directors of reinsurance broker John B. Collins Associates from He has been a speaker at numerous industry events on various topics from consumer driven healthcare to business travel accident insurance

4 Joshua Stein J. Stein Consulting, LLC Joshua Stein is a consultant specializing in healthcare liability and financial insurance and reinsurance. Prior to establishing his consultancy, Josh was President of U.S. Healthcare operations for IronHealth, which is the healthcare liability underwriting unit of Ironshore Holdings (US), Inc. Prior to joining IronHealth, Josh held roles as Chief Underwriting Officer of OneBeacon Professional Partners, Director of Reinsurance for Chubb Specialty Insurance, and in-house counsel and Director of Reinsurance for Executive Risk Management Associates. Before joining the insurance industry, Josh practiced law with a corporate firm in New Haven, Connecticut. Josh received his J.D., with honors, in 1989 from the University of Connecticut School of Law, and received a B.A. in History from Yale University in 1982.

5 How did the self-insured option develop in the health insurance space? What was the catalyst? Key initial product features How has it evolved?

6 What is the role of captive in the area? How big is this area of the captive market? What is the relative size to the overall stop loss market? Standard Benefits Risk financing Flexibility Direct access to reinsurance markets What else? How has the use of captives benefited the key stakeholders? Employers Employees

7 ACA (Obama Care) Many of the big issues are not limited by moving to self-insurance: ACA deals with access and increased pool size changing the demographics of the pool, but does not do anything concrete to deal with cost other than attempt to tackle cost of insurance which general responds to underlying cost drivers Increased pool can create greater predictability and ability to handle higher risk individuals How does this impact the self-insured model and therefore captives involved in this product?

8 Entering a post Obama era with significant change potential at the White House Don t think there will be a repeal political issues of leaving 20M individuals uninsured Decreasing the pool again will create issues for the high risk individuals, potential for high risk pool won t save any money The question is, will ACA 2.0 include a true commitment to cost containment and management? How does this play out for self-insured/captives already established and the potential for growth in the space in the future?

9 Questions?