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2011-10-30T19:49:00.000-04:00

CrewInsuranceServices.com: Insurance & Finance Focus

2011-01-13T13:55:00.000-05:00

CrewInsuranceServices.com: Insurance & Finance Focus

Insurance & Finance Focus

2011-01-12T13:56:00.005-05:00

Insurance & Finance Focus: Cautionary Cover

It is not some thing anyone likes to think about but accidents can and will happen in any industry, and this one is no exception. A recent spate of tragic incidents has brought home the need to be as prepared as possible to deal with the unthinkable and minimise any fallout for your family, friends and dependents if something happens to you.
Referring to the recent tragic accidental death of Bosun Will Black, Hatty Campbell, manager at YCO Crew, says: “No one ever expects the worst, but it is important to take
responsibility and be prepared. We strongly recommend all crew ask about insurance before taking a job and, if it is not included, to make sure they arrange the appropriate personal cover.”

You know that you need some sort of insurance but finding just the right cover will take a little time and investigation. First up, check with your captain or management company; you will usually be covered to some degree under the vessel’s insurance policy but it is important to ask for a copy of the certificate of coverage so that you understand the benefits you are entitled to receive in case of an accident.

Maria Karlsson of Crew Insurance Services recommends buying an individual policy if you believe the limits are insufficient under the yacht’s coverage: “This is your insurance policy to keep and take with you from yacht to yacht, should your employment change.”

Unsure if the yacht’s insurance cover is adequate? Michelle van der Merwe of Pantaenius has a few questions she recommends you ask of your captain or management company. Ask about your cover for medical expenses (some owners may opt for the minimum) and individual limits, which may be insufficient when travelling to the Caribbean or US, as the US has the highest cost of medical care worldwide. US citizens may face further restrictions in their policy like spending a certain amount of time outside the country per year, or having a non-US address.

Ask how you would go about making a claim in the event of an emergency, whether you are covered in your home country as well as on holiday, plus for sporting activities like off-piste skiing, watersports and diving. Jill Cappelli of HTH Worldwide adds that it is important, if you have been directed to an individual plan, to check whether the
boat will contribute anything towards it.

So, if you are directed towards an individual plan or you decide you would like one due to inadequate cover under the vessel’s policy, what level of cover should you be looking at? Cappelli says to aim for a comprehensive plan that covers you when you are on and off the boat, as well as in between vessels. “The plan should cover [crew] not only for emergencies and catastrophic events, but for things such as preventative care, wellness check-ups, annual physicals, surgeries, emergency evacuations,
repatriation and accidental death and dismemberment.”

Karlsson adds that it is important to check that your policy is appropriate for where you are. “If the crew is spending a significant time in the US, they need a policy with a
sufficient lifetime max, since medical care in the US is very high.”

Cappelli says there are specialist policies designed to fit the lifestyles of professional crew, which provide worldwide coverage irrespective of nationality. Some companies will pay contracted doctors and hospitals directly so that crew do not have to pay upfront and claim later. Karlsson adds that crew policies usually offer coverage year-round – whether the crewmember is working or not – and include coverage for watersports, driving tenders and diving. Most crew-specific policies cover for accidental death or dismemberment – usually one, two or three times the annual income, or a flat sum. Cappelli says you need to include a repatriation provision to ensure your family does not have to foot the bill. But what happens if something occurs to you in a foreign country that requires your family to get there quickly, for example, you go missing? “Emergency medical reunion is the policy benefit that usually provides payouts for transportation (an economy roundtrip air and/or ground ticket), hotel and even a daily food allowance usually for one relative (parent, spouse or sibling); with a common limit of around $10,000,” says Karlsson.

How much will it cost you? Giving Karlsson, Cappelli and van der Merwe a hypothetical scenario of a crewmember’s life and working conditions to gauge an idea of how much an individual insurance policy might cost, we asked them to suggest an appropriate policy for a 32-year-old chef on a one-year contract on a motoryacht, currently in the Caribbean, heading to the Mediterranean for the summer season. He would be onboard for charters through the Caribbean and then cook for the owner and their family in the Med. He will get six weeks’ holiday through the year and will not be onboard for the Atlantic crossing. He is fit and healthy and is married to the chief stew on the same yacht.

Karlsson said: “Based on your scenario above, he should be looking for a policy that covers him and his wife worldwide, since they’ll be working both in the Caribbean and in the Med. I would advise to include coverage in the US, should he need to get air evacuated from the Caribbean for medical care in the US. The policy should include coverage for his vacation time as well, which most of the policies do. The crew policies may not give a ‘husband/wife’ discounted rate.” Karlsson says an approximate
monthly premium rate for worldwide coverage might be US$140 per month for medical coverage for our male chef and US$150–200 (dependent on age) per month for medical coverage for his wife.

According to Cappelli: “An individual plan for a 32-year-old would run anywhere between $90/month up to $170/month depending on gender and the deductible
option chosen. The HTH Worldwide Global Navigator plan would be a great fit for this couple. The cost for a couple, both aged 32, would range anywhere from $205/month up to $310/month. They would be covered anywhere they travel, including holidays or if they were in between jobs/vessels. The plan covers for preventative, primary care,
wellness checks, surgeries, emergencies, emergency evacuation, repatriation, accidental death and dismemberment and gives them access to a global network of contracted doctors. Be sure to check to see if there is a load factor for not paying the entire 12 months of premium upfront.”

Some companies charge a higher rate if you do not pay in advance, though HTH Worldwide charges the same rate whether you pay monthly or in advance.

Van der Merwe says Pantaenius offers set plans to all crew regardless of position, age (up to 65 years) or previous medical history; she recommends visiting Pantaenius’ website for full details of coverage offered and benefits available.

WORDS Isla McKechnie

Thanks to Crew Insurance Services (crewinsuranceservices.com), HTH Worldwide (hthworldwide.com) and Pantaenius (pantaenius.co.uk).

http://thecrewreport.com/crewessentials.asp?subsection=Issue%20Focuses&id=17124

Originally published in The Crew Report, issue 45

2010-09-10T18:01:00.003-04:00

HCC Medical Insurance Services Chooses CMN as Network Administrator
HCCMIS announces new international health-care provider network
Indianapolis, IN (PRWEB) May 29, 2010 -- HCC Medical Insurance Services, LLC (HCCMIS), is now
utilizing CMN for health-care provider network administration in North America and internationally. What
does this mean for customers?
* Larger worldwide network directory with 400,000+ doctors and 7,000+ facilities
* More robust online member tools
* More U.S. in-network options to lower or eliminate coinsurance payments
* International providers can bill HCCMIS directly, avoiding customers’ need to file a claim for reimbursement
Mark Carney, HCCMIS’s CEO, states “This expansion of services for our customers through improving
efficiencies and access to leading doctors and facilities around the world has reinforced our commitment to
being the industry’s international health insurance choice by consumers and business partners.”
Peter Lozier, Executive Vice-President, CMN comments “CMN is proud to be working with HCCMIS. The
synergy between both companies is vivid and we envision a true win/win relationship for years to come.
CMN’s highly skilled case management team deals one-on-one with each patient to identify individual needs
and uses our vast resources to accommodate them, while ensuring that patients are treated with compassion,
empathy and respect.”
About HCCMIS
HCC Medical Insurance Services, LLC is a subsidiary of HCC Insurance Holdings, Inc. (NYSE: HCC), a
leading international specialty insurance group with offices across the United States and in the United
Kingdom, Spain, and Ireland. As of March 31, 2010, HCC had assets of $8.9 billion and shareholders' equity of
$3.1 billion. HCC is rated “AA (Very Strong)” by Standard & Poor's and “AA (Very Strong)” by Fitch Ratings.
In addition, HCC's major domestic insurance companies are rated “A+ (Superior)” by A.M. Best Company.
About CMN
Founded in 1995, CMN Inc., a Europ Assistance Company, is an international health management company
that assists clients, including insurance companies and government entities, and their insured members to
successfully navigate the increasingly complex global healthcare system with economic ease. Their medical
case management, North American and international proprietary provider networks, customized services, and
technology are all seamlessly interwoven to ensure patients receive the best-possible medical care and service,
while reducing and managing their clients’ risks and costs.

Contact Information
Bryant Tutterow

Dealmakers: AIG's life unit seeks buyer, MetLife and Hartford talk union

2008-10-15T17:12:00.005-04:00

October 15, 2008

While the insurance end of the broad financial services market was said to be less infected by toxic mortgage-related securities, AIG's bailout and the recent announcement that juggernauts MetLife and the Hartford are talking marriage indicate otherwise.

The U.S. life insurance and annuities units of American International Group are rumored to be on the block to help repay a two-year $85 billion federal government loan with annual interest payments of at least 8.5%, which averted financial ruin following three quarterly losses totaling more than $18 billion and credit downgrades.

The embattled company, once the world's largest insurer, has hired JPMorgan Chase to find buyers, according to published reports. France's Axa SA, Swiss Reinsuance and ING Groep of the Netherlands have been identified as potential suitors. Some industry analysts believe the domestic units could fetch some $22 billion to $28 billion, while AIG's overseas life insurance division is appraised at about $62 billion.

CEO Edward Liddy, who initially sought to preserve as many insurance operations as possible after he was appointed by the government to run AIG, is promising investors a nimbler firm with a focus on the property and casualty line and a stake in an overseas life insurance unit that caters to fast-growing markets across Asia and India.
Meanwhile, MetLife recently approached life and property insurer Hartford Financial Services Group about a merger, according to the Wall Street Journal. The paper reports that the talks did not lead anywhere.

Source: Employee Benefit Advisor

Australian Superyacht Crew Visa - NEW in October 2008

2008-10-13T19:16:00.001-04:00

The Superyacht Crew Visa is a visa specifically for crew members who are employed on a Super yacht (vessels over 24 meters), in Australia. This visa will be introduced in October 2008.

The crew member can apply for the visa anywhere in the world. To be eligible for the visa, the crew member must be at least 18 years old, be sponsored by the yacht’s captain or owner, and be able to provide evidence of employment, (i.e. employment contract, vessel registration, insurance and Survey Certificate).

As a crew visa holder, the crew member must work for the employer who sponsored the visa, and only work in the position that was nominated on the visa application. If the crew member changes the employment, a new sponsorship and visa application will be required.

A crew member applying for the visa can stay in Australia for an initial period of three, six or twelve months. The application can be completed online on the Department of Immigration and Citizenship website: www.immi.gov.au.

Who is responsible for sick crew?

2008-10-02T17:56:00.000-04:00

Scenario:

A foreign crew member needs emergency appendectomy surgery in the US, without having a worldwide crew health insurance policy in place. The yacht has a charter starting in the Caribbean and is leaving the US the following morning after the incident. The Captain has no choice but to leave the sick crew member behind, still being treated in the hospital. Who has the final responsibility for the foreign crew member? Appendectomy surgery is considered an "illness", it's not an accident happening on board the vessel where the yacht's insurance will pay the claim. Isn't the management company, or the owner responsible for the foreign crew member from the time of entering the country on a B1/B2 work VISA?

"Inpatient hospitalization in the US is an average of $7,000 per night. Appendectomy surgery requires at least 3 days of inpatient treatment. Who is responsible for the $21,000 bill?"

Some yachts want to have a waiting period before offering health insurance to the crew members, because of the quick turnover rate. International Crew insurance policy premiums range from as little as about $100 to $200 per month and crew member for a major medical full coverage insurance policy that would make any US domestic insurance holder jealous.

"At the end of the day, is it really a "saving" for the owner, not to cover a foreign crew member as of day one? Can you even claim the vessel insurance for a medical incident that has no "work related" accidental cause? Probably not....
Is it worth using the high premium vessel insurance policy for a medical claim when the main purpose of that type of insurance policy is to pay for high monetary claims related to the yacht itself?"

A good crew insurance policy is worth every penny to the owner. The owner liability decreases, especially in times where lawsuits are as normal as brushing teeth! The vessel insurance shouldn't be used for incidental crew medical claims.

Get your quotes now by calling (+1) 754 234 4325, or e-mail info@crewinsuranceservices.com

Monaco Boatshow, September 24-27 2008

2008-09-02T13:10:00.000-04:00

Crew Insurance Services, Inc will be attending the Monaco Boatshow this year. We are going to be in London from September 18th to the 21st, visiting new and existing business associates and crew insurance clients. Maybe we'll even get a tour of Lloyd's of London!
We'll be arriving in Marseille on the 21st, and then off to Monaco with a quick stop in Antibes on the way.

Please let us know if you're going to attend the show, so that we can meet up! We are not going to have a booth, but will walk around the show and go to some of the evening festivities.
Let us know if there are any fun events to go to by calling +1-754-234-4325, invitations are welcomed....

We'll see you there!

Maria Karlsson
www.crewinsuranceservices.com

Expanding Our Insurance Portfolio!

2008-08-28T13:24:00.000-04:00

Crew Insurance Services, Inc. have added life insurance and disability income insurance to our insurance plan offerings. This will increase client’s satisfaction and the convenience of a “one-stop-shop” for insurance products.

“Yacht Captain’s and crews hectic schedules that don’t allow time to “shop around” for quotes from different insurance agencies. They have many other important responsibilities to handle in a short period of time before going out to sea again, and want the efficiency and fast service that a “one-stop-agency” can offer. It’s also important to work with one insurance agent, whom they have an established professional relationship, and who can handle all types of insurance plans”.

Get your Quote Now!

Crew Insurance Services is an independent insurance brokerage firm, offering a wide range of insurance products for any citizens: international crew health insurance, international health insurance, life insurance, disability income insurance, travel plans, immigrant coverage and more. We handle both individual and group insurance plans, for any citizens. Please call Maria at +1-754 234 4325, or e-mail info@crewinsuranceservices.com.

Please write your comments in the blog!

Welcome to my blog!

2008-03-19T15:59:00.000-04:00

Hello prospects and existing clients!

Welcome to Crew Insurance Services blog! I'm excited to be able to share information with
you, and to hear your opinions and questions! You are my lively hood, and your input and feedback is tremendously valuable.
Feel free to ask questions or add comments regarding insurance!

For the average person, insurance information can be difficult to understand, and boring to read... My job is to assist you in finding the best coverage for your specific situation, whether you're a traveling yacht crew, or a US person in need for domestic insurance. Let me know how I can be of your disposal!

Start blogging!