MoonGate Insurance Offers Taxi Affinity Program

MoonGate Insurance Ltd. has entered into a definitive agreement with the Bermuda Taxi Owners and Operators Association [BTOA] to administer the taxi industry’s first Insurance Affinity Program.

An affinity insurance program is an insurance program that is targeted and offered to a specific group such as a trade association or charity organization. The idea is to design insurance packages that are geared specifically to the group’s needs, and then offer these packages to its membership. The taxi affinity program will include Home, Motor, Life and Health insurance.

MoonGate President & CEO, Leon L. Bascome stated that “this is an historic moment in the history of Bermuda’s domestic insurance market and the taxi industry. The taxi fraternity has always formed the cornerstone of Bermuda’s hospitality and the individual drivers are great ambassadors for our country.

[From left] William Madeiros-Executive Vice President/General Manager- FMG, Michael Freisenbruch- President – FMG, Damian Pitcher- Senior Underwriter-FMG, Derek Young- President- BTOA, Leon L. Bascome- President & CEO MoonGate Insurance, Trevor Moniz,- Acting Minister of Health & Seniors, Collin Anderson – Director – Health Insurance Department, Reggie Anderson- International Marketing Director – MASA, Randall S. Halley- Vice-President – MASA

Mr Bascome said, “Unfortunately, the cost of operating a taxi in this challenging economic environment has made it difficult for quite a number of taxi owners and operators. I always pledged to my late grandfather, William A. Francis, that, when given the opportunity, I would assist in trying to provide cost-containment and innovate insurance programs and advice for the taxi industry, wherever possible.

“My experience from the international insurance industry has enabled me to hone the necessary skills and techniques required for these and other Bermuda risks. Our team met with the BTOA and its President Derek Young, consistently, over the last 11 months to create workable solutions for ALL members, as there were a number of complex issues.”

“When we were looking to partner with entities in the market, we were surprised at the rates that would be charged to the group; without naming names, rates quoted were over $1,500.00 per month/per driver; other carriers did not quote at all.

“Being that this was such a critical component of the program, we sought the help of the Bermuda Government; Mr. Collin Anderson, Director of the Health Insurance Department, has been instrumental in developing the Health Insurance package for the taxi drivers, which includes HIP and FutureCare, and he has been pivotal in meetings, explaining the excellent benefits of both of these products.

“To complement these products, we have also partnered with Medical Air Services Association [MASA] to provide the air ambulance cover that is missing from these policies; together, we believe that we have created a lower cost solution to medical care in Bermuda”.

Medical Air Services Association [MASA] is a prepaid emergency assistance company with tens of thousands of members located throughout Canada, United States, Mexico and the Caribbean. MASA’s headquarters are located in Southlake, Texas.

MASA CEO Frank Halley said, “Our new association with MoonGate Insurance provides our members with access to urgent air ambulance transportation. The primary advantage of air ambulance transportation is the ability to take a member/patient directly to a hospital where he/she can receive immediate attention..”

The “MoonGate Health Package” forms part of the Insurance Affinity Program for the taxi drivers and includes Government’s HIP/FutureCare policy + MASA + additional benefits [additional health screenings, generic drug options and keep fit activities].

The costs will be:

• Under 65 – $450.00 per month
• Over 65 – $500.00 per month

All non-health insurance coverage [home, motor, life and pensions…etc.] will be underwritten by the Freisenbruch Meyer Group and available through MoonGate.

FMG President Michael Freisenbruch said, “We are pleased to be partnering with MoonGate to provide our insurance products to the BTOA. MoonGate shares our “holistic view” of the client. We are very encouraged that our high underwriting standards are understood by Leon and his team. As evidence of the strength of our relationship, one of our Senior Underwriters [Mr. Damian Pitcher] will be spending time in the MoonGate offices to assist with the launch.”

The sign-up for the Affinity Insurance Program will begin on October 7th, 2013, at MoonGate. Members of the Health Insurance Department will make themselves available for assistance for the Health products and Damian will be available for the Non-Health products. Drivers can also call 542-2200, to book convenient times to sign-up.

Mr. Young stated, “This is a great day and a momentous occasion for the taxi industry. On behalf of the Bermuda Taxi Owners and Operators Association, its committee and members, I want to personally thank Mr. Bascome for the hard work his team has put in to make this happen.

“When it comes to benefits sometimes it feels like the taxi industry is the forgotten child, but we have spent some long nights attempting to iron out the kinks involved in making this happen. The taxi drivers without health insurance can now be covered under a single program that can also include their home and vehicle. I’m hoping the industry takes advantage of the great packages MoonGate will be offering us”.

#BermudaBusiness #BermudaInsurance #MoonGateInsurance #Taxi

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