Medical Stop Loss


Choosing to self-fund an employee benefit plan is a serious and complicated matter; a decision which should not be taken lightly. Many factors must be considered in order to structure a self-funded plan properly so that it is in harmony with the philosophy of the employer, while meeting the needs of the plan members – what benefits will be offered, plan exclusions, cost sharing between the employer and employees and eligibility criteria, to name but a few. However, all of the hard work and great ideas which went into the design of the benefit plan can be lost if the financial viability of the self-funded plan is not indemnified against the impact of catastrophic claims. This is the purpose of stop loss insurance. Just as the need for stop loss is critical to maintaining the financial viability of a self-funded plan, so too is the selection of the entity providing you with the stop loss policy.

Why IOA Re…?

Stability… The market for medical stop loss coverage has experienced substantial turmoil over its relatively brief history. A great many firms on the supply side of stop loss (carriers, reinsurers and managing general underwriters) which were active in the market during the 1990s are no longer in the business today. IOA Re has been underwriting medical stop loss for 28 years, making it one of the oldest managing general underwriters in the business today.

Strength… In exchange for the premiums you pay to a stop loss carrier, you receive a promise – the promise to pay claims once they reach a predetermined amount. Shouldn’t the ability of the carrier to fulfill this obligation be of the utmost concern? We, at IOA Re, believe it should be and, therefore, only represents carriers which have been rated “A” or higher by A.M. Best Company.

Currently, IOA Re underwrites on behalf of the following carriers:

Experience… IOA Re’s stop loss team is led by Jim Haggerty. Jim has more than 34 years of insurance industry experience in a variety of senior underwriting positions at insurance companies, where he led underwriting teams toward growth and profitability. Prior to joining IOA Re, Jim spent more than 12 years with Crum and Forster where he served as Vice President of Accident & Health programs, including the management of IOA Re.

In order to bring underwriting expertise closer to its customers, IOA Re has organized its medical stop loss division into three regional offices. Each regional office is run by a Vice President of Underwriting with a proven record of solving our clients’ most complex needs while producing a profit for our carriers. Please reference the “office locations” link above for specific contact information.