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June 21, 2010 at 08:00 PM
Union Labor Life Insurance Company will be selling unlimited annual and lifetime maximum health plan stop-loss insurance.
Union Labor, a unit of ULLICO Inc., Washington, says it will offer unlimited lifetime maximum coverage and annual maximums of up to $10 million per person for each policy year for stop loss policies on self-funded plans.
Union Labor also will offer employers an unlimited annual maximum coverage option.
Union Labor sells much of its coverage to municipal plans, and to the multi-employer Taft-Hartley fund plans that cover union workers at many private employers.
Employers that self-fund their health plans, rather than relying on insurance to cover all insured losses, use stop-loss policies to limit the amount of claims risk they assume.
