Group insurance

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Group insurance

Insurance coverage for a group, which can usually be obtained at a cheaper rate than insurance for an individual.

Group Insurance

Insurance provided to a whole number of people who negotiate collectively. Group insurance is thought to provide better insurance at a lower rate to members of the group because the insurer is able to spread its risk over a larger number of people that it otherwise would be able to do. Unions and other trade groups often procure group insurance policies.
References in periodicals archive ?
He will report to David Zona, chief operations officer, Group Insurance, working in the Roseland, New Jersey, office.
Furthermore, the provision of group insurance is required for only 'permanent' employees.
If an Ontario employer is not registered with the Branch for any other purpose under the Act and the insurance carrier is a registered vendor in Ontario, the employer is not required to register as a vendor for purposes of remitting the RST collected on employee group insurance premiums.
One of the main problems with group insurance benefits is that they rarely, if ever, are based on a formula that identifies the needs of the people for which they are being provided.
Coverage for members who participate in ACM group insurance plans will continue without interruption and with no action required on their part.
Deanne Stewart said that product bundling in group insurance could lead to super fund members paying for unnecessary cover.
The Australian Prudential Regulation Authority (APRA) today released a prudential practice guide that provides guidance on good practices for insurers in relation to group insurance arrangements.
GUARDIAN LIFE INSURANCE COMPANY OF AMERICA has named RONE BALDWIN executive vice president of the group insurance division.
The Group Insurance Trust of the California Society of Certified Public Accountants is one of five Multiple Employer Welfare Arrangements, or MEWAs, operating in California.
For several years, I've advised readers to get non-employment-based group insurance for major medical, catastrophic, and excess medical expense needs, in addition to any employer-based plans they might have.

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