One80 Intermediaries Launches GeneBridge Gene Therapy Reinsruance Product
01 July 2024 - 10:00PM
Business Wire
The solution mitigates the financial impact of
high-cost gene therapy claims.
One80 Intermediaries (One80), a specialty insurance broker
headquartered in Boston, today announced the launch of GeneBridge,
an innovative product created to mitigate the financial impact of
high-cost gene therapy claims.
GeneBridge is a reinsurance facility designed for blocks of
business including employer stop loss programs and health plans.
Programs that purchase GeneBridge are reimbursed up to a scheduled
amount for the list price and administration of the FDA-approved
therapies.
More than 10,000 diseases are linked to genetic disorders
fueling a rapid growth in approved treatments. At an average cost
per therapy of over $2.5 million, related high-cost claims are
expected to grow at an equally rapid pace.
“With the number of gene and cell therapies expected to double
over the next two years, we saw a great need to mitigate the
potentially catastrophic financial impact one or more of these
claims would have on programs and employer groups,” said Matthew
Power, President of One80 Intermediaries. “With GeneBridge, One80
is at the forefront of providing clients with protection for a
rapidly growing area of high-cost claims,” he continued.
The program will be administered through One80’s medical stop
loss practice, a full-service Managing General Underwriter.
About One80 Intermediaries
One80 Intermediaries is a privately held firm with offices
throughout the US and Canada. As a leading insurance wholesaler and
program manager, the company offers placement services and binding
authority for property & casualty, professional and personal
lines, life insurance, and travel/accident and health coverages.
One80 specializes in key industry verticals such as medical stop
loss, cannabis captives, alternative risk, warranty coverage and
lender-based insurance. One80 serves commercial companies,
non-profits, public entities, individuals and associations and
unions, and has access to all major insurance markets in the US,
Canada, and UK. One80 has offices in more than 40 locations in the
US and Canada. For more information visit
www.one80intermediaries.com
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Media Contact: Lenika P. Milne lmilne@one80intermediaries.com
(786) 865-4614