McKinley International Risk Management, a global expert in multinational pooling and local national insurance
Before we take this opportunity to provide some important information on admitted insurance for local nationals and multinational pooling, if you have an immediate need of an insurance quote for local nationals, please contact us at info@mckinleyinternational.com MORE ~
Insurance for local nationals should be taken very seriously. You must use a locally admitted insurance company or locally licensed insurance company. This means, if you want to insure Brazilians in Brazil, you need to use a Brazilian insurance company. You cannot use a U.S. plan even if it’s an international insurance plan like CIGNA International in most instances. Getting this wrong can be CRIMINAL in many countries.
Multinational Pooling is an “easy” and cost effective way for a company to insure their local nationals and accomplishes two main objectives:
- It lessens the work load. In the old days if you had local nationals in 5 countries you had to “figure out” the insurance in those countries yourself or forced to use some local broker you did not know or trust. Now you can work through a multinational pooling company that will have insurance company partners in each country where you have and employ local nationals. They can coordinate a global program for you.
- For cost savings. Economies of scale mean you can get better pricing by working through a multinational pooling company and all the individual countries can be added up to form one large / collective experience rated group. This means the home office can receive a dividend check (for surplus) if, collectively the countries have favorable claim experience even if a few countries do poorly.
Does your company employ 100 or more local nationals (in total) in 3 or more countries and each country is “doing their own thing.” Perhaps you have no real control and are not sure what exactly is going on. Using McKinley International Risk Management we can reach out to a multinational pooling company to see if your situation can be improved and results can be a nice and dramatic change for the better.
McKinley International Risk Management provides expatriate employee benefits, property and casualty insurance (like international workers compensation insurance) and local national insurance through multinational pooling.
