One80 Intermediaries Launches GeneBridge Gene Therapy Reinsurance Product

Business Wire

The solution mitigates the financial impact of high-cost gene therapy claims.

BOSTON--(BUSINESS WIRE)--
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