COVID-19 – advice for employers. Read now.

COVID-19 – Axa

Please see Axa’s website and Axa PPP Healthcare’s website for their latest information on the impact of COVID-19.

We have reviewed the insurer’s website and other communications. The key updates and changes are listed below.

AXA PPP – key updates

  • AXA PPP set out a formula for how it intends to reimburse SME and individual customers if the reduction in claims leads to a higher than expected underwriting profit across their portfolio. In summary, the combined loss ratio for the 2020 and 2021 calendar years will be calculated and compared with the loss ratio across their portfolio in 2019. If the loss ratio is lower then customers will be refunded in proportion to the premiums they have paid over the two year period.  Payments will be made in March 2022.
  • Large corporate customers will be invited to join a two year profit share.
    • Fully insured groups will be eligible for 80% of any surplus between the claims and 85% of the claims fund if their annual premium is under £1m,  The profit share calculation changes to 80% of any surplus between the claims and 90% of the claims fund if the groups annual premium is over £1m
    • Groups with an existing profit share feature in place will be invited to switch to the new two year profit share
    • Any profit share payments are made at the end of December 2021 after calculation of the claims tail.  Payments are subject to renewal with AXA PPP
    • Groups funding benefits via AXA PPP’s Master Trust with a 100% General Stop Loss will also be eligible for a profit share based on the risk charges.  AXA PPP will pay the group 40% of any underwriting surplus over a two year renewal period.  Any surplus in the Trust fund will roll over as normal
  • All AXA PPP members can now access a ‘Clinical Support Centre’.  This service will offer remote consultations and diagnostics for some conditions.  Referrals for urgent treatment will also be made where appropriate care is available
    • Members of Individual and SME plans will have any excess or outpatient limit waived if claiming via the Clinical Support Centre.  Members will also have access to unlimited Doctor@Hand consultations

AXA PPP – key updates

  • Virtual doctors service has introduced to all experience rate contacts not selecting this service. There is no premium loading for the three-month period due to end 30 June 2020. AXA already embed virtual doctors service for all age rated contacts.
Each applicable policy of insurance must be reviewed to determine the extent, if any, of coverage for COVID-19. Coverage may vary depending on the jurisdiction and circumstances. For global client programs it is critical to consider all local operations and how policies may or may not include COVID-19 coverage.
The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal and/or other professional advisors. Some of the information in this publication may be compiled by third party sources we consider to be reliable, however we do not guarantee and are not responsible for the accuracy of such information. We assume no duty in contract, tort, or otherwise in connection with this publication and expressly disclaim, to the fullest extent permitted by law, any liability in connection with this publication. Willis Towers Watson offers insurance-related services through its appropriately licensed entities in each jurisdiction in which it operates.
For further support and advice from Willis Towers Watson Health & Benefits contact your Account Manager or the Client Services team:

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