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Gulf Insurance & Reinsurance Company participates in National Health Economics conference

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May142015

Kuwait City, 14 May 2015 – Gulf Insurance & Reinsurance Co., the leading insurance service provider in Kuwait, participated in the ‘Kuwait Conference & Exhibition’ on National Health Economics. The event took place from May 10 – 12, 2015, was held under the auspices of His Highness the Prime Minister, Sheikh Jaber Al Mubarak, and headed by the Minister of Health, Dr Ali Al Obaidy.

The Group's Corporate Communications and Investors Relations Manager, Mr Khalid M Al Sanousi said,

“Our participation in the health conference focuses on discussing the issue of ‘health economics’. The event, being held in Kuwait for the first time, included local, regional and global organizations such as the World Health Organization, US Food and Drug Authority, and the British Innovation Center amongst others to guide the expenditure on various health services in Kuwait to effectively serve nationals and residents ”.

He added,

“The Health Economics Conference aims to shed light on developing the scientific foundations as the bases to leverage the medical levels and the efficiency of the service components and elements including the medicine and preventive care. It is considered as the ideal platform for the planning, development and provision of more cost effective medical services”.

The Exhibition, which witnessed a large turnout of participants, Gulf Insurance & Reinsurance offered a wide range of newly developed services, including its latest offering, ‘FAY, which caters to the growing demand on health insurance options. The new package combines diversity and flexibility supported by a qualified team specialized in the health insurance system which will provide the customers with peace of mind and round-the-clock call center.

The ‘FAY’ package comprises six different products mainly; ’Fay’, ‘Fay Plus’, ‘Fay Dual’, ‘Fay Regional’, ‘Fay International’ and ‘Fay Global’. The coverage limits of the package starts from KD one hundred thousand up to KD one million for the global product which covers all the world countries including the USA and Canada.

The products include coverage inside and outside hospitals up to the annual highest limit of the selected policy. It further covers pregnancy and delivery with a limit range between KD 1200 to KD 6000 per year. As for the dentistry, the maximum limit for this interest ranges between KD 300 and KD 1000. Chronic diseases are covered under the terms and conditions of the policy and subject to its maximum limits.

Al Sanousi concluded,:

“Gulf Insurance & Reinsurance’s new products are distinguished, providing flexibility and a variety of options for customers to choose according to their specific requirements. There is no deductible percentage for in-patient treatment offering the comfort and peace of mind to customers and discarding the possibility of bearing heavy financial burdens in case of high cost of treatment across hospitals in Kuwait or abroad. The exemption of deductible covers the out-patient treatment outside Kuwait.

The company’s ‘FAY’ medical insurance offering is the highest category in this package serves clients wishing to acquire the health insurance service all over the world including the USA. In addition to the above mentioned coverage, the product has other benefits including the routine and preventive check-ups, mental treatment, speech and sight problems, extensive coverage of teeth including crowns and bridges, as well as other distinguished services”.

Customers can obtain more details about the new package by contacting the service center at 1802080 or by visiting the Life and Health Insurance Department at KIPCO Tower in Sharq, 41st floor or through our website (www.gulfins.com.kw).