Rates for schemes with TSA are reviewed on an annual basis. Our Reviews team will start a review a few months prior to a scheme’s review date in order to ensure that it is finalised and communicated at least two months prior to the effective date. The Reviews team will run quotes with up to four of our insurers (depending on the benefit structure) before sending out a review letter and pack electronically to the broker.
The letter will highlight any changes to the existing insurer’s rates and/or proof free limits, and a comparative letter with alternative rates offered by the other insurers will also be provided. The review will also include things like the necessary policy documents and nomination forms.
This ensures that schemes continue to receive value for money benefits and it assists the broker in fulfilling their role and obligation to the client.
Should a scheme wish to make changes to their benefit structure or if there is more than a 20% change to the membership or salaries at any time besides the annual review, then our Requotes team will run the necessary quotes with up to four of our insurers (depending on the benefit structure) and provide the results. The same necessary supporting documentation will be sent with the letter.
An easy reference list of the team contacts can be found here.
Thank you and regards,
The TSA Team
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