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Out-Of-Country Medical Coverage
Primarily offered to Canadian insurers, Out-of-Country Medical insurance from Sutton Reinsurance is a policy that is either a group employee (or association) benefit or sold as an individual product (commonly to older aged individuals). On a reinsurance basis, the Out-of-Country Medical insurance is mostly offered as an excess coverage protecting the insurer against shock losses or losses involving multiple individuals in one occurrence.
Limits:
$5M per person
$25M per occurrence
PRODUCT NEED and use:
An insurance company may wish to reinsure Out-of-Country Medical Coverage to reduce the impact of potentially large claims (policies are generally issued with $1,000,000 to $5,000,000 limits per person).