Beazley and Boston Mutual sign marketing agreement
Boston Mutual to market Beazley's gap medical product
Beazley U.S. Accident & Health has entered into a new marketing agreement with Boston Mutual Life Insurance Company, a national provider of insurance solutions for individuals and at the workplace.
Boston Mutual will now market Beazley's gap medical product providing reimbursements for eligible out-of-pocket medical expenses, including deductibles, co-pays and coinsurance. This product requires an underlying major medical plan and works most effectively for groups with high-deductible plans.
Paul Gulstrand, head of Beazley's U.S. Accident & Health team, stated, "We are excited to enter into the partnership with Boston Mutual. Together, we are bringing new solutions to brokers as their customers migrate to high-deductible health plans."
Charlie Mabry, Vice President of Workplace Solutions for Boston Mutual said, "Gap Medical complements our wide array of workplace products and brings an extra measure of financial security for our customers and their employees."
Beazley includes the issuing company of Beazley Insurance Company, Inc. (BICI), rated A by A.M. Best. Its parent company, Beazley Group, was established in 1986 as a specialist insurer and reinsurer. Headquartered in London, the company has operations in Europe, Asia, Australia and the U.S., and manages five Lloyd's of London syndicates - all rated A by A.M. Best. For more information, visit www.beazley.com/accident&health.
Founded in 1891, Boston Mutual Life Insurance Company has enjoyed a long history of financial strength and stability. Headquartered in Canton, Massachusetts, Boston Mutual has been a recognized leader for 125 years in providing flexible insurance products to working Americans and their families in the private and public sectors of the USA. For more information, please visit www.bostonmutual.com or follow the company on Facebook (/BostonMutualLifeIns).
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Note to editors:
Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, the US, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd's syndicates and, in 2015, underwrote gross premiums worldwide of $2,080.9 million. All Lloyd's syndicates are rated A by A.M. Best.
Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.
For more information please go to: www.beazley.com
About Beazley Supplemental Medical (gap medical)
Benefits and range of options may vary by state. Premium will vary based on plan chosen. A waiting period for late entrants may apply. This policy is renewable at the option of the company.
The Supplemental Medical Expense (out-of-pocket) plan is not a major medical plan. The product is designed to reimburse certain covered expenses, and is only available if an employer has a major medical plan in place. Out-pocket expenses submitted for reimbursement must be eligible under the major medical plan, and must meet the coverage definitions under our policy (may not include full reimbursement, if annual plan limits have been met). Riders for outpatient services performed in a physician's office/urgent care, or for outpatient chemotherapy/radiation performed in a licensed facility, may not be available in all states.