ING’s employee benefits division, a unit of ING’s U.S. financial services operations, and Manulife Financial have entered into an agreement to allow the two companies greater cross-border accommodation for their respective clients with employees in both the United States and Canada.

The agreement will strengthen the bond the two companies share through their membership in MIA Benefits, a network of insurance companies that provide employee benefits in more than 30 countries. Because of their membership in the Brussels-based insurance network, both ING and Manulife have strong backgrounds creating cross-border employee-benefit plan solutions. However, the new agreement will streamline their processes to allow for broader, more consistent coverage for employers having personnel in both countries.

“Because of our global operations, we are presented with many opportunities for cross-border arrangements,” said Curt Olson, senior vice president for ING Employee Benefits, in a news release. “The leadership at ING’s and Manulife’s employee benefits divisions, however, recognized that our clients’ needs are predominately within North America. It was that realization that inspired us to forge this agreement.”

“ING has excellent name recognition in our market and a strong reputation with our clients,” said Geoff Crickmay, senior vice president, Group Benefits for Manulife Financial. “This agreement will give employers in Canada and the United States confidence that their employees are well-protected when they’re working on either side of the border.”

The agreement creates a simplified method through which ING and Manulife can facilitate a proposal process to accommodate companies with employees in Canada and the U.S. (Both companies offer proposals only in the country in which they are licensed to do business.)

Meanwhile, the parties have also entered into reinsurance agreements which will allow ING insurance companies and Manulife to share some of the risk involved and to create guaranteed issue amounts (non-medical limits in the Canadian context) appropriate for each country while maintaining a simpler underwriting structure.