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Munich Re Newly Branded Globality Health a Success with Pacific Prime



    Munich Re Newly Branded Globality Health a Success with Pacific Prime

Pacific Prime is pleased to announce new coverage options to clients after
Munich Health, the health insurance segment of Munich Re, has just announced
the re-branding of its DKV Globality plan to 'Globality Health'

PR Newswire

HONG KONG, Nov. 28, 2012

HONG KONG, Nov. 28, 2012 /PRNewswire/ -- Pacific Prime is pleased to announce
new coverage options to clients after Munich Health, the health insurance
segment of Munich Re, has just announced the re-branding of its DKV Globality
plan to 'Globality Health'.

Pacific Prime clients paired with Globality will be offered three levels of
cover in the Globality Health plan: 'Classic', 'Plus' and 'Top', the latter of
which boasts 'exceptional' inpatient and outpatient coverage as well as dental
and maternity benefits, while remaining price competitive. Pacific Prime
targets its expatriate and high net worth individuals looking for
comprehensive premium coverage with the Globality plan.

Mr Christian Moore, Pacific Prime sales manager commented: "The Globality plan
is clearly the stand out leader in the health insurance market for our clients
in some segments, it has a trusted brand name and amazing benefits ... but the
administration processes can be very slow, they often contact doctors directly
on claims to getting supporting information which can slow the process down."

However, Pacific Prime predicts big premium rate increases for 2013 and beyond
for clients paired with Globality plans. Rates in 2011 moved upwards by about
10 percent, while adjustments for 2012 look to show an increase of 19 percent
for those on coverage 'Worldwide ex USA'. Even more concerning, is that those
in Hong Kong, China, Singapore and Taiwan will see a 35 percent rise in
premiums, reflecting premium market adjustments rather than global medical
inflation.

Pacific Prime has been warning clients on the possibility of high rate
increases since 2009 when it assessed the Globality Health plan and found
indications of potential plan losses. This is what now seems to be happening
and it has led to such an increase in premium adjustments.

Remaining positive, Pacific Prime's benchmark with competitors still indicates
that the plan remains good value in Hong Kong, Singapore, China and Taiwan
even with the 35% premium increase. The policy structure remains unique and
attractive to many Pacific Prime clients looking for some of the most
comprehensive health insurance coverage available in the market today.

 

SOURCE Pacific Prime

Website: http://www.pacificprime.com
Contact: Holly Booth, Pacific Prime, 3589 0508
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