Is Specialty Contractors Benefit Trust categorized as insurance?
Specialty Contractors Benefit Trust is not in and of itself insurance. The plan however, purchases insurance direct from the world insurance market under one policy guaranteeing all of the eligible medical benefits from the first eligible dollar to the limits set forth in the Summary Plan Description. The benefits under Specialty Contractors Benefit Trust are guaranteed in full from the first eligible dollar to the limits of the plan by Certain qualified A rated and better Underwriters at Lloyds London.
