Southern Cross Insurance Review – Policies Offered, Financial Health & Trading History
About Southern Cross Insurance
Southern Cross Insurance, one of New Zealand’s largest insurance providers, is a not-for-profit corporation that supplies New Zealanders with a broad range of health related services.
The Southern Cross Healthcare Group consists of two separate organisations — Southern Cross Medical Care Society and Southern Cross Health Trust — which operate separate businesses at arms length from one another.
Southern Cross was conceived by a group of prominent Auckland businessmen back in 1950 through 1961 — which is when the Southern Cross Medical Society opened its doors. Over the years, this not-for-profit health care organisation has grown to be the largest consumer co-operative New Zealand has ever seen — the Southern Cross Medical Care Society.
Statistics show that one in every five New Zealanders have an insurance policy with Southern Cross Insurance. The stability of the company and the speed in which it pays out on claims contributes to the popularity of this New Zealand insurance company. Southern Cross Insurance has the largest network of private hospitals and accommodates small businesses with at least five employees.
What insurance products does Southern Cross Insurance offer?
Travel insurance and healthcare insurance are the company’s top products.
Southern Cross travel insurance provides coverage for those traveling overseas, as well as incoming tourists and groups. The travel insurance is available to individuals, students, corporate groups and for those working overseas. Features of the Southern Cross travel insurance for individuals, groups and families include:
- 24 hour emergency assistance
- Medical evacuation back to New Zealand
- Overseas hospitalisation expenses
- Lump sum personal accident coverage
- Personal liability
- Rental car excess coverage
- Expenses for travel companions if hospitalised or evacuated
- Medical and evacuation expenses due to terrorism
- Cover for lost personal items and travel documents
- Coverage for cancelled, disrupted or missed travel connections
Southern Cross health insurance covers asthma to whooping cough. Southern Cross healthcare insurance is also available for individuals, families and employers. Members of Southern Cross Insurance receive discounts when they take out additional policies from the company. For your Southern Cross health insurance, you can choose a full coverage (Ultra Care) or limited coverage plan (Supercare) for surgical expenses. The flexibility of Southern Cross health insurance makes Southern Cross a practical choice for most New Zealanders.
Southern Cross Insurance rating & financial health
International rating agency Standard & Poor’s (Australia) Pty Limited affirmed its insurer financial strength rating for Southern Cross as A+ (strong) on 21 February 2009. For more information and company reviews, continue browsing the site.