Zurich buys programme manager in the US

Zurich American Insurance Company (ZAIC), a part of  Zurich Insurance Group, has acquired a Texas-based managing general agency (MGA) and programme manager to bolster its supplemental health insurance capabilities.

Special Insurance Services' (SIS) offerings include gap medical and occupational accident insurance products.

The acquisition will help Zurich expand its supplemental health insurance offerings for employers and workers, which currently includes voluntary benefits, travel insurance and assistance, gap medical, medical stop-loss, occupational accident and student accident insurance.

SIS has been managing programmes since 1987, and has capabilities to develop, underwrite, distribute and administer specialty insurance products for small- and midsize employers.

"As medical costs continue to increase, employers are seeking solutions that enable migration to higher deductible major medical plans while ensuring healthcare affordability for workers," said David Fike (pictured), head of life, accident and health for ZAIC.

"Gap medical is gaining popularity because it can help employees cover their deductibles and coinsurance, reducing out-of-pocket expenses. Through the acquisition of SIS, ZAIC can build our capacity to deliver high-quality supplemental health products like this — products that businesses and workers need, desire and deserve."

SIS president Philip Rearick said: " Zurich and SIS share a commitment to listening to the needs of the marketplace and putting customers first. That's one reason our talented team at SIS looks forward to joining the Zurich family and amplifying our positive impact. Together, we will help solve for some of the most pressing health challenges that businesses and individuals face today."

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