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Medical Malpractice for Groups
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Rising insurance costs and the lack of affordable insurance for medical malpractice have resulted
in doctors banding together for placement of their medical malpractice coverage. As a group, they
have greater purchasing power and can consider additional alternatives that individual physicians
are not offered. The same holds true for a wide range of health care facilities.
Physician Groups and Health Care Facilities are more frequently considering opportunities in
Alternative Funding structures to increase their participation and control over medical
malpractice costs.
In 2005, the number of Healthcare insureds forming Risk Retention
Groups was projected to increase by more than 70%. In 2004, Healthcare already represented 29% of
these structures. (Source: Risk Retention Reporter, October 2005: pages 11-12.)
Alternative Funding structures which may be considered include (but are not limited to):
- Association Captives.
- Risk Retention Groups.
- Risk Purchasing Groups.
- Fully Fronted Arrangements.
These arrangements are often complex, requiring proper integration of:
- Insurance company requirements;
- Risk assumption levels;
- Regulatory requirements;
- Claims handling services: and
- Appropriate emphasis on loss reduction risk management techniques.
Intercorp currently provides assistance in the development and placement of physician and
health care groups interested in the formation of one of these programs. Our experience in the
various options and considerations are a valuable resource in guiding the group to the most cost
efficient structure for its members. Contact us for more
information.
Intercorp does not provide markets for individual medical malpractice accounts.
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