GROUP MEDICAL MALPRACTICE INSURANCE (GMMI) COVERAGES |
Group Medical Malpractice Insurance (GMMI) from Aos Assurance Company Limited has been designed to provide financial relief if a medical malpractice should occur while your employee is out of country having a scheduled medical/surgical procedure performed.
Unfortunately medical malpractice can occur anywhere in the world, including your doctor or at your local hospital. What really matters after a medical malpractice has occurred is- what is my recourse NOW?
If your employee’s injuries occurred in a developed country, they can elect to sue because there are established laws pertaining to medical malpractice. Logistically this may not be the most practical solution. If the procedure was performed in a developing country, in most cases the legal system will not provide the same recourse or financial awards.
GMMI will provide you’re employees with the security to make a
voluntary informed decision to go out of the country for their
medical/surgical procedure knowing that if the unthinkable happens,
they will have the money to recover and get their life back on
track! GMMI may mitigate risk and provide the security for employers
to offer out of country medical/surgical procedures to be integrated
into the healthcare benefit.
Elements of your coverage
Wage loss
GMMI provides up to 85% of lost wages, up to age 65, or for a period of 2 years if the employee is working past age 64. The maximum amount payable will be based on the limit of liability chosen.
Cost to repair
This coverage is to provide the cash your employee needs to repair or pay for the correction to the damage that has been done. Aos will provide a lump-sum cash settlement to remedy the injuries and allow the employee to implement the correction at their discretion.
Out of pocket expenses
This is an allocation to assist with the out of pocket expense incurred during the convalescence. This would include items such as:
Ø travel expenses to the medical facility to correct the damages
Ø meals and accommodations during the corrective procedure
Ø dependant care for the employee and their dependants while the employee is undergoing the corrective treatment
Ø medically necessary modifications to the employees abode to assist with their living requirements
Rehabilitation
We provide the funds to pay for physiotherapy to assist in the healing process. Rehabilitation is an integral step in getting the employee on the road to recovery quickly.
Severe disfigurement
We understand how difficult severe visual physical scaring and discoloration can be and how often it does occurs as a result of negligent injury. We have built-in damage awards for such unfortunate occasions.
Loss of reproductive capacity
Loss of the ability to have children could be devastating not only to the employee but the whole family. We have built-in damage awards should this occur.
Death
If death should occur as a result of negligent injury, no amount of money will rectify the situation for the employee’s family. Aos will pay the maximum limit of liability allowed under the policy, to help assist the employee’s family in their healing process.
GMMI Features and Benefits
- Any employer from around the world can purchase our product
- We settle claims with the employee up front, so they know exactly how much money they have to rectify their situation
- The employee is in control and determines how they wish to spend the settlement
- The employee can choose either a lump-sum or a structured settlement payment
- No on-going submission of expense reports for approval of medical payments
- GMMI only covers procedures performed at JCI medical facilities being performed by US board certified doctors or international equivalent. When you purchase the GMMI you will have the security of knowing that we have pre-approved the medical facility and doctor for your employee’s safety to ensure quality of the treatment
- We endeavor to handle and settle claims in accordance with the norms of the employees home country with local claim adjusters who understand the particular country customs and standards
- No deductibles or coinsurance
- No medical underwriting or medical questionnaire to fill-out to purchase
- There are no lawyers or lawsuits required and claims are estimated to be settled 80 percent faster than in the traditional litigation environment
- Aos utilizes a 24 hour claims reporting centre with local adjusters in 140 countries
- Aos subrogates all employee rights of recovery as a result of the negligent injury upon settlement of the claim
The rising cost of quality healthcare or unavailability of timely treatment is requiring employers to access multiple global medical markets to achieve sustainable and cost efficient solutions. The GMMI was designed to empower employers and employees with the security to choose the right medical solution for their situation from around the world.
GMMI PRODUCT OVERVIEW - CLICK HERE
If you would like to learn more about this unique offering, click here to email us. Insurers and TPA's are welcome.
