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Coordination of Benefits
Takes place when an insured and his or her dependents are covered by two or more Group Health insurance policies, which makes one insurer's plan the primary and the other insurer plan the secondary, thus making it less likely for the same claim to be paid multiple times under two or more policies. For example, if two working spouses were covered under their own and one another's Health plans, and one spouse became ill, his or her own employer's insurance policy would be the primary plan, while costs not covered under the primary plan would be covered under the spouse's secondary plan.
Insurance Industry News from ProgramBusiness.com
Zurich Appoints Iain C. Howie CFO and Chief Administrative Officer Asia-Pacific and Middle EastZurich Financial Services Group (Zurich) announces the appointment of Iain C. Howie (45, UK citizen) as Chief Financial Officer (CFO) and Chief Administrative Officer (CAO) Asia-Pacific and Middle East (APME), effective June 1, 2009. In this newly created key management role he will be responsible for coordinating and managing all financial as well as administrative aspects of the APME operations. He will be based in Tokyo and report to Geoff Riddell, Chairman of Global Corporate and CEO APME.
Mr. Howie formerly held the position of Chief Operating Officer, Zurich Japan. He joined Zurich in 2004 and acted as Director of Strategy and Business Planning for Asia-Pacific before moving to Zurich Japan in 2005. Prior to that, he worked with Prudential plc in several finance and operational management roles across its UK, US and Asian businesses. Mr. Howie holds a masters degree in Economics from Glasgow University, Scotland, and received an ACA certification from the Institute of Chartered Accountants in England and Wales (ICAEW).
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