The Income Protection covers in the world of Employee Benefits: the - PowerPoint PPT Presentation

The Income Protection covers in the world of Employee Benefits: the experience of the Generali Network Vittorio Zaniboni Dresden, April 29 2004

Generali Employee Benefits Who we are � Branch of Assicurazioni Generali Head Office � Headquarters in Brussels � Satellite offices in Europe : London, Frankfurt, New Jersey and Hong Kong � Altogether, 65 professionals fully devoted to multinational Employee Benefits � GEB Network present in 70 countries (Generali’s own companies in 35 countries)

GEB - The geographical spread

Generali Employee Benefits What we do � Complete range of life insurance (risk + pension) in each country � Traditional multinational pooling of employee benefits risks � Innovative multinational captive arrangements (for employee benefits risks) � Expatriate programs � Assistance and relocation services

The income protection cover in the EB world • A very wide scope of cover: – the short term benefits – the long term cover • Differencies in terms of risk profile and product design

The links with the social security • Situation A – The benefits payment is linked to the attitude and decision of the social security authorities (Spain, Italy, Holland...) • Situation B – The ultimate decision sits with the claim settler of the private insurance company (UK, Ireland...) • Consequences on the risk profile certainty and the role of the insurance company

Peculiarities of the IP covers in the EB business for multinational companies • Better security conditions on the workplace • Higher awareness of the importance of the EB cover and their role • Higher severity and frequence of stress related claims • Higher benefits and moral hazard issues

Employer liability and IP cover: a difficult match • The problems of the policy exclusions • The catastrophy headache • The dismissal paradox

Claim management: a key to success • The importance of the cooperation with the employer • The 14-days rule • The experience of Generali UK

... the insider view... IP covers are growing in importance on the EB scenario but are showing an increasing interdependence with the economic, social and political situation of the various countries

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