Policyholder FAQs

Is my insurance covered with GBG Insurance Limited and will I be impacted by its insolvency?

Whilst you may be a customer of GBG, you may not have been directly insured by GBG Insurance Limited.  Your insurance policy documentation will state who the named insurance company is who underwrites the insurance policy. 

Customers should therefore review their policy documentation to determine the insurer. Having done so, customers should then consult the appropriate set of FAQs which will provide further information and guidance on what, if anything, they need to do:

• If the insurer on the policy documentation is named solely as GBG Insurance Limited, then customers should read the FAQs entitled "Direct Policyholder FAQs".

• If the insurer on the policy documentation is named as both GBG Insurance Limited AND Best Doctors Insurance Limited, then customers should read the FAQs entitled "Best Doctors Policyholder FAQs".

• If the insurer on the policy documentation is named as an insurer other than GBG Insurance Limited or Best Doctors Insurance Limited, then customers should read the FAQs entitled "Fronted Policyholder FAQs". 

Customers should contact their insurance agent or broker if they have any questions regarding their policy documents or alternatively access the GBG Customer Portal for further details on their insurance policy. 

When and why did GBG Insurance Limited go into Administration?      

• GBG Insurance Limited entered into Administration on Thursday, 21 December 2023, by order of the Royal Court of Guernsey.

• During the course of 2023, GBG Insurance Limited uncovered historical financial issues which resulted in a shortfall in its capital requirements. Upon identifying this, GBG Insurance Limited sought to conduct an accelerated sale of the business.

• Despite receiving interest from other companies in acquiring GBG Insurance Limited and its wider group, the sale and recapitalisation of the business could not be completed.

• The Directors of GBG Insurance Limited, therefore, concluded that the company was insolvent, with no reasonable prospect of a solvent sale, and applied for GBG Insurance Limited to be placed into Administration.

What is an Administration?

An administration is a process under The Companies (Guernsey) Law, 2008, where one or more insolvency practitioners take charge of the company’s business and affairs with a view to pursuing one of the following purposes:

• the survival of the company, and the whole or any part of its undertaking, as a going concern; or

• a more advantageous realisation of the company's assets than would be effected on a winding-up.

On placing a company into Administration, the company benefits from a statutory moratorium or stay on legal proceedings and is protected from the commencement or continuation of legal proceedings. An administration, therefore, gives GBG Insurance Limited and the Joint Administrators time to further consider what course is in the best interests of creditors.

Who are the Joint Administrators?

Alex Adam, Andrew Wood and Michael Tagg, all Insolvency Practitioners of Teneo, were appointed Joint Administrators of GBG Insurance Limited.

I have paid in advance for a policy that is not due to commence until after the Company was placed into Administration. What happens now to this policy and can I be refunded?

• Policy holders should check their renewal or policy documents to determine whether the policy was to be solely covered by GBG Insurance Limited or whether there is a co-insurance or fronted arrangement.

• Where a policy is provided by a party other than GBG Insurance you will still have a valid insurance policy and will be entitled to ongoing financial benefits under the policy.  

• If your policy was intended to be covered solely by GBG Insurance Limited, please contact the Administrators at GBGenquiries@teneo.com to provide details of the payment and policy so that we may investigate.

• The Administrators are currently seeking legal advice to ensure the correct determination will is made in accordance with applicable laws. This is likely to take some time and we are unable to anticipate the outcome at this stage.

Who do I contact if I have a question concerning GBG Insurance Limited?         

• Please refer to the FAQs for GBG customers, also found at www.ips-docs.com/case/GBGIN0003I/TFAL2023.  Future updates related to the GBG Insurance Limited Administration, including notices to creditors and progress reports, will be posted online through these channels. 

• Customers should speak to their relevant broker or use the GBG Portal for enquiries in connection with the Administration. If you are an agent or broker and wish to contact GBG Insurance Limited in relation to services you provided to GBG Insurance Limited, please do so through your normal communications channels or by email to customerservice@gbg.com or by telephone at +1.866.914.5333.

• If you have specific questions relating to the conduct of the Administration of GBG Insurance Limited, you can also contact the Joint Administrators by email at GBGenquiries@teneo.com.

Is my insurance covered with GBG Insurance Ltd?

• Whilst you may be a customer of GBG, you may not have been directly insured by GBG Insurance Limited. 

• Your insurance policy documentation will state who the named insurance company is who underwrites the insurance policy. 

• Customers should therefore review the policy documentation to determine the insurer.  If the insurer is named solely as GBG Insurance Limited then customers should continue to read these FAQs.

• Customers should contact their insurance agent or broker if they have any questions regarding their policy documents or alternatively access the GBG Customer Portal at https://www.gbg.com/members-login for further details on their insurance policy. 

Does this mean my insurance policy is not valid anymore?

• The Administration (insolvency) of GBG Insurance Limited does not automatically terminate or cancel your contract of insurance – however, the insolvency means that the company will no longer be able to meet its financial obligations to you under the insurance policy.

• Based on the Joint Administrators’ initial assessment of GBG Insurance Limited, it is not expected that GBG Insurance Limited will be able to honour the full amount of any claims currently received or any made during the Administration. The amounts that will be paid and the timing of those payments are not yet known.

• The Joint Administrators are undertaking an assessment of options that may allow for certain businesses to transfer to alternative carriers. 

• However, the feasibility of such options has yet to be fully assessed and therefore policyholders may wish to seek alternative replacement insurance cover. 

• If you do cancel your insurance policy, please note that any refunds due will rank as unsecured claims against GBG Insurance Limited.

As an existing policyholder, do I need to take any action?         

• The Joint Administrators are undertaking an assessment of options that may allow for certain business to transfer to alternative carriers. However, the feasibility of such options has yet to be fully assessed and therefore policyholders may wish to seek alternative replacement insurance cover. 

• You are entitled to cancel your existing policy, however, if you do please note that any premium refunds due to you will rank as unsecured claims against GBG Insurance Limited.

• In addition, if you cancel your policy it may prohibit you from being included in a potential transfer to an alternative carrier as part of a wider collective restructuring process.

• If you have an existing claim, please see “What happens to my existing claim?”, below.

Am I still able to access the GBG Healthcare Direct Settlement Network?          

Your access rights to your GBG Healthcare network will now be restricted.

I or my family have critical healthcare needs - will we be covered?

• GBG Insurance Limited is insolvent and in an Administration process.  As such, payments of customer insurance claims in the ordinary course of business have ceased. 

• However, if customers have critical, life-threatening healthcare needs (and that are covered under the terms of their GBG Insurance Limited policy) and have no other means of covering the medical expenses then they should contact gbgassist@gbg.com or call +1.866.914.5333 and apply for emergency financial assistance. 

• Any such applications for emergency financial assistance will be assessed on a case-by-case basis.  

Can I cancel my policy with GBG Insurance Limited, and do I have the right to a refund of my premium?

• The Joint Administrators are encouraging all Direct Policyholders to find alternative cover.

• Policyholders should be aware that any refunds due for cancelled policies will rank as unsecured claims against GBG Insurance Limited.

• In addition, if you cancel your policy, it may prohibit you from being included in a potential transfer to an alternative carrier as part of a wider collective restructuring process.

• This means that they will not be paid until the Administrators have realised GBG Insurance Limited’s assets to allow for a distribution.  The amount to be paid in relation to policyholder claims is currently unknown.

What happens to my existing claim?

• The Joint Administrators are working to determine the appropriate next steps to progress eligible claims and the quantum of such claims that may properly be admitted as insurance claims in the Administration.

• There are several complex issues that require resolution or a workable way forward for all stakeholders to allow progress and payment of the open claims.

• These issues include, but are not limited to policy wordings, cash flows and funding arrangements, rights to recoveries from third parties and various litigation matters.

• A claims handler will be assigned to each open claim and will contact claimants in relation to their claim.

• The website and this FAQ document will also be updated from time to time so you may wish to check for updates.

Is my claim covered by an insurance compensation scheme?

• The Joint Administrators are currently reviewing policy documentation and engaging with regulators to confirm whether policyholders may be covered by an insurance compensation scheme.

• However, policyholders should be aware that they are unlikely to be protected by an insurance compensation scheme/US State Guarantee Fund.

Can you provide me with an estimate of the timeframe for reviewing my claim?

• Claims handlers are working as quickly as possible to progress claims and they will contact claimants as claims progress.

• However, whilst claims can be agreed, no payment of claims will be made until the Joint Administrators have realised GBG Insurance Limited’s assets. 

What happens to my renewal quote?

• GBG Insurance Limited is not writing any new policies and as such, all renewal quotes will be cancelled.

• Customers should therefore seek alternative cover in the meantime.

Can I move to another insurer?

• Based on the Joint Administrators’ initial assessment of GBG Insurance Limited, it is not expected that GBG Insurance Limited will be able to honour the full amount of claims made during the Administration.

• Therefore, it is advised that policyholders seek alternative cover and speak to their insurance agent or broker who will be able to advise you on your options. 

I have a claim, what should I do?

• Your policy remains in place and if you have a claim you should continue to follow the standard process as detailed in your policy documents.

• This can be done by either accessing the GBG Customer Portal or sending an email to eclaims@gbg.com or by calling the claims handling team at +1.866.914.5333.

I need to update my contact details

Please update your contact details using the GBG Customer Portal or via email at customerservice@gbg.com.

I have a complaint about my policy, how do I make that complaint?

• The process for making a complaint about your policy has not changed.

• If you wish to make a complaint, please email complaints@gbg.com or call Toll-Free +1.866.914.5333 (within the U.S. and Canada) or +1.786.814.4125 (outside the U.S. and Canada).

• Alternatively, you can write to us at GBG Insurance Limited – in administration, c/o Teneo Financial Advisory Limited, Bucktrout House, Glategny Esplanade, St Peter Port, Guernsey, GY1 1WR.

Being alert to scams

• All customers should remain alert to the possibility of fraud.

• If you are cold-called by someone claiming to be from GBGI Limited, GBG Insurance Limited, the Administrators or Teneo, please end the call and contact GBG Insurance Limited directly using your normal communication channels.

Is my insurance covered with GBG Insurance Limited?

• Whilst you may be a customer of GBG, you may not have been directly insured by GBG Insurance Limited.  Your insurance policy documentation will state who the named insurance company is who underwrites the insurance policy.  Customers should therefore review the policy documentation to determine the insurer. 

• If the insurer on the policy documentation is named as both GBG Insurance Limited AND Best Doctors Insurance Limited (policies issued since 1 September 2023 within the LATAM region only), then customers should continue to read these FAQs. 

• Customers should contact their insurance agent or broker if they have any questions regarding their policy documents or alternatively access the GBG Customer Portal at https://www.gbg.com/members-login for further details on their insurance policy. 

Does this mean my insurance policy is still valid?

• Whilst a GBG subsidiary may administer the insurance product (by providing customer support and claims handling services etc.), the insolvency of GBG Insurance Limited does not terminate or cancel your contract of insurance with the underlying insurance company.

• Your policy documentation will state who the named insurance company is who underwrites the policy. 

• Provided that the insurer is NOT solely GBG Insurance Limited then customers will still have a valid insurance policy and will be entitled to the ongoing financial benefits under the insurance policy.

As an existing GBG customer, do I need to take any action?

• At present there is no need for you to take any action as you will be able to access your normal benefits and be able to submit claims through the normal channels.

• If you pay for your premium by instalment you should continue to make payments to ensure that the policy coverage remains effective. 

Can I cancel my existing insurance policy?

Any rights that you have to cancel your policy and receive a return of premium are unaffected.

Am I still able to access the GBG Healthcare network?

Your access rights to the GBG Healthcare network are unaffected and customers may continue to use the service.

What happens to my existing insurance claims/treatment?

• Any existing claims (or current medical treatments) will be paid for by your insurance company. 

• However, due to the insolvency of GBG Insurance Ltd, there may be some impact on customer support and therefore some impact on existing customer service levels - this may lead to a delay in the normal course processing and payment of claims.

What happens to my renewal quote?

No new policies are currently being written and as such, all renewal quotes will be cancelled.

Do I still need to pay my premiums?

Should you stop paying premiums, you cover will stop at the end of the cover period.

Can I move to another insurer?

Any rights that you have to cancel your policy and move to another insurer are unaffected.

I have a claim, what should I do?

• Your policy remains in place and if you have a claim you should continue to follow the standard process as detailed in your policy documents.

• This can be done through either the GBG Customer Portal or by sending an email to eclaims@gbg.com or by calling the claims handling team at +1.866.914.5333.

I have an urgent claim for medical expenses, what do I do?

• Your policy remains in place, and if you have a claim you should continue to follow the standard process as detailed in your policy documents.

• If you wish to contact GBG Insurance Limited regarding an urgent claim, please do so via your normal communication channels – using the GBG Customer Portal, via your agent or broker or using the GBG Claims helpline at +1.866.914.5333 or by email to eclaims@gbg.com.

I need to update my contact details - who should I contact?

Please use the GBG Customer Portal or email customerservice@gbg.com to provide your latest contact details.

I have a complaint about my policy, how do I make that complaint?

• The process for making a complaint about your policy has not changed.

• If you wish to make a complaint, please email complaints@gbg.com or call Toll-Free +1.866.914.5333 (within the U.S. and Canada) or +1.786.814.4125 (outside the U.S. and Canada). Alternatively, you can write to us at GBG Insurance Limited – in administration, c/o Teneo Financial Advisory Limited, Bucktrout House, Glategny Esplanade, St Peter Port, Guernsey, GY1 1WR.

Being alert to scams

• All customers should remain alert to the possibility of fraud.

• If you are cold-called by someone claiming to be from GBG, GBG Insurance Limited, the Administrators or Teneo and you are unsure of their valid identity please end the call and contact GBG directly using your normal communication channels.

Is my insurance covered with GBG Insurance Limited?

• Whilst you may be a customer of GBG, you may not have been directly insured by GBG Insurance Limited.  Your insurance policy documentation will state who the named insurance company is who underwrites the insurance policy.  Customers should therefore review the policy documentation to determine the insurer. 

• If the insurer on the policy documentation is named as an insurer other than GBG Insurance Limited or Best Doctors Insurance Limited, then customers should continue to read these FAQs. 

• Customers should contact their insurance agent or broker if they have any questions regarding their policy documents or alternatively access the GBG Customer Portal at https://www.gbg.com/members-login for further details on their insurance policy. 

Does this mean my insurance policy is still valid?

• Whilst a GBG subsidiary may administer the insurance product (by providing customer support and claims handling services etc.), the insolvency of GBG Insurance Limited does not terminate or cancel your contract of insurance with the underlying insurance company. 

• Your policy documentation will state who the named insurance company is who underwrites the policy.  Provided that the insurer is NOT solely GBG Insurance Limited then customers will still have a valid insurance policy and will be entitled to the ongoing financial benefits under the insurance policy.

As an existing GBG customer, do I need to take any action?

• At present there is no need for you to take any action as you will be able to access your normal benefits and be able to submit claims through the normal channels.

• If you pay for your premium by instalment you should continue to make payments to ensure that the policy coverage remains effective. 

Can I cancel my existing insurance policy?

Any rights that you have to cancel your policy and receive a return of premium are unaffected.

 Am I still able to access the GBG Healthcare Direct Settlement Network?

Your access rights to the direct settlement network including the United Healthcare network are unaffected and customers may continue to use the service.

What happens to my existing insurance claims/treatment?

• Any existing claims (or current medical treatments) will be paid for by your insurance company. 

• However, due to the insolvency of GBG Insurance Ltd, there may be some impact on customer support and therefore some impact on existing customer service levels. 

• This may lead to a delay in the normal course processing and payment of claims.

What happens to my renewal quote?   

If you have received a renewal quote this will still be valid and please use your normal broker/agent or Customer Portal to procced with the renewal process.

Do I still need to pay my premiums?

Should you stop paying premiums, you cover will stop at the end of the cover period.

Can I move to another insurer?

Any rights that you have to cancel your policy and move to another insurer are unaffected.

I have a claim, what should I do?

Your policy remains in place and if you have a claim you should continue to follow the standard process as detailed in your policy documents. This can be done by either sending an email to eclaims@gbg.com or by calling the claims handling team at +1.866.914.5333.

I have an urgent claim for medical expenses, what do I do?

• Your policy remains in place and if you have a claim you should continue to follow the standard process as detailed in your policy documents.

• If you wish to contact GBG Insurance Limited regarding an urgent claim, please do so via your normal communication channels – using the GBG Customer Portal, via your agent or broker or using the GBG Claims helpline at +1.866.914.5333 or by email to eclaims@gbg.com.

I need to update my contact details

Please use the GBG Customer Portal or email customerservice@gbg.com to provide your latest contact details.

I have a complaint about my policy, how do I make that complaint?

The process for making a complaint about your policy has not changed. If you wish to make a complaint, please email complaints@gbg.com or call Toll-Free +1.866.914.5333 (within the U.S. and Canada) or +1.786.814.4125 (outside the U.S. and Canada). Alternatively, you can write to us at GBG Insurance Limited – in administration, c/o Teneo Financial Advisory Limited, Bucktrout House, Glategny Esplanade, St Peter Port, Guernsey, GY1 1WR.

Being alert to scams

• All customers should remain alert to the possibility of fraud.

• If you are cold-called by someone claiming to be from GBG, GBG Insurance Limited, the Administrators or Teneo and you are unsure of their valid identity please end the call and contact GBG directly using your normal communication channels.

The Joint Administrators have finalized the sale of TieCare International to Bison Capital, a financial investor, and all policyholder benefits are now secured by Crum & Forster - an A Rated AM Best US insurance group.

Your existing TieCare policy remains in place and with the same benefits and terms as before. If you are a TieCare International policy and have questions regarding your existing policy, please call GBG Assist or US/Canada toll-free at 1-866-914-5333.

Alternatively, please email your TieCare regional representative:

Africa: Jimmy.Nguyen@tiecare.com

Latin America: Frank.Cappuccio@tiecare.com

SE Asia: Stephen.Boush@tiecare.com

Middle East: Donn.Osterlund@tiecare.com

Elsewhere: Melanie.Mazza@tiecare.com

Policyholders are advised an agreement has been made with an alternative carrier for European Life, Disability and Health business and North American Life, Disability and Medical insurance policies. VYV International Benefits, a branch of MGEN entirely dedicated to international Health, Life, Travel and Disability insurance are happy to assume the role of insurer for your policy. Policyholders should contact their Broker/Account Manager to obtain a quote and transfer terms. MGEN have confirmed that wherever possible all rates, terms and conditions will remain unchanged. 

This new insurance solution is being supported by Trawick International who will assume full servicing responsibility for the Life & Disability business as well as administrative oversight and placement support for the Medical business in Europe and North America. 

About MGEN

MGEN is Fitch A+ rated and has been in operation since 1946. The company offers a variety of solutions to expatriates and the globally mobile in the form of individual and group contracts. It serves international corporate employees across a multitude of industries, NGOs, consulates, embassies and students around the world.  

About Trawick International 

Trawick International has been a leading provider of international insurance, administration, and other assistance services for 25 years. The company offers a full suite of innovative products and services to support today's globally mobile population and serves individuals and groups worldwide. Learn more at https://www.trawickinternational.com/about-us/our-company/

Are your GBG customers impacted by the insolvency of GBG Insurance Limited?

• A customer of GBG may or may not have been directly insured by GBG Insurance Limited. 

• Depending on who underwrote their GBG insurance product (which varies by type/age of insurance product and geographical location), your GBG customers could be materially impacted by the insolvency of GBG Insurance Limited. 

• The insolvency of GBG Insurance Limited could mean that your GBG customers no longer have access to their healthcare, disability, travel, and life insurance cover.

• Customers have been asked to review their policy documentation to determine the insurer and then review the corresponding FAQs (the insurance policy documentation will state who the named insurance company is who underwrites the insurance policy).   

What should agents and brokers be doing to assist their GBG clients?

• Agents and brokers should in the first instance review the attached FAQs and contact their GBG representative if they have any questions on the impact of GBG Insurance Limited's insolvency on their clients.

• Having reviewed their policy documentation and read the relevant FAQs, you can then assess what assistance your GBG customers may need to help them consider the impact of GBG Insurance Limited's insolvency on their GBG related insurance and the need to obtain alternative insurance cover. 

• Given that GBG customers have been asked to contact their agent or broker if they have any questions concerning the policyholder documentation, you may experience a higher-than-normal level of enquiries. 

Does this mean the insurance policy is not valid anymore?

• Provided that the insurer named in the customer's policy documentation is not solely GBG Insurance Limited, then customers will still have a valid insurance policy and will be entitled to the ongoing financial benefits under their insurance policy. 

• Those direct policyholders who are solely insured by GBG Insurance Limited will likely face a shortfall against any claims they seek to bring in the Administration.

• The Administration of GBG Insurance Limited does not automatically terminate the policy and certain direct policyholders may wish to seek alternate insurance. 

• Policyholders have been asked to review their policyholder documents and consult the appropriate FAQs for more information. 

• Brokers and agents should review the FAQs and contact their GBG representative if they have any questions on the impact of GBG Insurance Limited's insolvency on their clients. 

Do existing policyholders need to take any action?

This will depend on whether the customer was insured solely by GBG Insurance Limited and therefore it is important that you review the GBG customer’s policy documentation and read the appropriate FAQs in order to properly advise your customer.

Can you provide an estimate of the timeframe for reviewing and paying claims?

Claims handlers on behalf GBG Insurance Limited are working as quickly as possible to progress claims and they will contact claimants as claims progress. Claims holders with other insurers may see a slight delay in claim payments in the short term but should see no material change in ordinary course operations.

What happens to any outstanding renewal quotes?

Customers are asked to review the appropriate FAQ to understand the status of such renewal quotes.

What happens to broker commissions?

• For ongoing business that has not been underwritten by GBG Insurance Limited, commissions will continue to be paid (albeit there may be a slowdown in payments as a result of administrative issues created by GBG Insurance Limited’s insolvency.) 

• For commissions that were due under GBG Insurance Limited products, such commissions will not be paid and brokers/agents can submit claims for unpaid commissions as an unsecured claim against GBG Insurance Limited.

What role will brokers play in new business?

It is anticipated that insurance brokers and agents will continue to originate new business for certain aspects of GBG and further clarity on the ongoing business will be shared with the broker network over the coming days and weeks.