International group health
Private medical cover for internationally mobile employees and their families, written on a group basis and often across a defined area of cover.
Global Employee BenefitsThe people of the enterprise.
Global employee benefits are the insurance arrangements an employer makes for teams spread across countries: group health, group life and income protection among them. This page sets out what they are and how a programme is assembled.
Understanding
What global employee benefits are
An enterprise that employs people in several countries meets the same question in each of them: what protection travels with the employment. Global employee benefits are the employer-sponsored answers, arranged for a group rather than for individuals.
Group cover is underwritten on the group as a whole. The size and make-up of the workforce, the countries involved and the claims history of the group shape its terms, rather than the health of each employee.
The Programme
How a global benefits programme is assembled
Most programmes combine a small number of standard elements, adapted to the law and practice of each country in which people are employed.
Group life
A lump sum paid on the death of an employee in service, usually set as a multiple of salary. Known in the United Kingdom as group life assurance.
Income protection
A replacement income paid while an employee cannot work through illness or injury, after a waiting period set by the scheme.
Multinational pooling
An arrangement in which the results of local group policies in several countries are combined, so that the employer’s overall experience is considered together.
Local requirements
Some benefits are mandatory in some countries, and many must be issued by a locally authorised insurer. A global programme is therefore usually a set of local policies under one design.
Governance and renewal
Group schemes renew periodically and are reviewed against claims, workforce change and local law. Their records are a document of the enterprise in their own right.
LIBRO does not underwrite, sell, arrange or advise on insurance, and nothing here is an offer, an invitation, a recommendation or advice. This page is general information, written for understanding. Insurance is regulated, and questions of cover belong with a licensed insurer or broker in the relevant jurisdiction.