Reliance Standard Launches RSL Risk Solutions ™

Reliance Standard Life Insurance Company (Reliance Standard), a leading group insurance carrier specializing in employee benefits solutions for companies of all sizes, today announced the launch of a new line of employer stop-loss coverage. RSL Risk Solutions™ is a flexible program of stop-loss insurance designed to help employers maximize their control over health care spending. RSL Risk Solutions offers both specific risk (individual) and aggregate risk (total) stop-loss coverage for groups as small as 50 lives.

“The ongoing challenges of health care delivery costs and the more recent obstacles and opportunities created by health care reform have made it attractive for more companies to consider self-insuring their benefits programs,” said Lawrence Daurelle, President and CEO of Reliance Standard. “Stop-loss coverage offers these groups a safety net so they can participate in the advantages of self-insuring while limiting their financial exposure from claims experience.”

A self-insured employer aligns with a third party administrator (TPA) who will manage provider networks and pay claims on behalf of the company. This allows the employer to offer one standardized health plan regardless of work site locations; and to collect, analyze and use claim data to make strategic benefits decisions. Insulating the company from unbudgeted, potentially catastrophic claims costs – a significant benefit of fully-insured plans – is then accomplished through the purchase of stop-loss insurance.

“The option to self-insure has traditionally been open only to large employers with the critical mass and cash position to pay claims on a transactional basis,” Daurelle said. “Improved technology, sound TPA partners and increasing financial pressure have helped make this feasible and appropriate for a growing segment of the market. Putting the right financial safeguards in place is a necessary step in gaining access to the benefits of self-insuring.”

According to an industry analyst, the self-insured market has grown by 11 percent over the last five years, while enrollment in fully-insured health plans has fallen in direct proportion: 13 percent. This amounts to a 24% swing in plan selection in the employer market over a short time.

Benefits consultants cite growing costs and too-little transparency as reasons more employers, including those in the middle market, are considering and more frequently opting for self-insured plans. Fully-insured health plan premiums continue to rise, they say, and many employers are frustrated they have no access to granular claims information – or any means to impact costs through plan design and delivery. These are advantages large self-insured employers have enjoyed for years.

RSL Risk Solutions is available now in many states for policies with effective dates beginning January 1, 2012 and later. For more information, contact your broker or local Reliance Standard regional sales office, or visit www.reliancestandard.com.

About Reliance Standard Life Insurance Company

Reliance Standard Life Insurance Company is a leading insurance carrier specializing in innovative and flexible employee benefits solutions for employer groups of all sizes. A wholly-owned subsidiary of Delphi Financial Group, Inc. (NYSE:DFG), Reliance Standard offers coverage options for group life, disability income, accident, dental, eye care and limited benefit medical programs. Reliance Standard delivers comprehensive absence management and health and productivity management services in tandem with sister company Matrix Absence Management, an industry leader in managed disability, return-to-work services, and personal/family and medical leave of absence (FMLA) programs. Rated A (Excellent) by A.M. Best (affirmed December 2010), Reliance Standard celebrated its centennial year in 2006. For more information, visit www.reliancestandard.com or call (800) 351-7500.

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