Sometimes a traditional insurance product doesn't suit the needs of a non-traditional healthcare provider. PMIS commonly works with CEOs, CFOs, and other executives to examine and implement more unique and creative risk structures. If you have had difficulty finding the right kind of insurance, want to hold down your costs by self-insuring some of your potential risk, or need a mechanism that may allow you to get back money at the end of a policy cycle, you need an expert in alternative risk.
There are a number of ways that coverage can be provided that allow the healthcare entity to share in the risk of loss and the reward of having good claims experience. At various levels in your insurance structure, you can participate in loss through self-insured retention, retroactively rated policy structures, inner-aggregates. or vertical participation.
Creativity and an understanding of needs and appetite for risk are the keys to developing products that are tailor-made for various types of healthcare clients. This takes extensive knowledge of the healthcare and insurance industries, outstanding communication, and a partnership between the healthcare provider, the agent, and the insurance or reinsurance company. PMIS has the experience and ability to make alternative risk structure a successful part of your insurance program. Some of the potentially effective alternative risk structures and strategies we can provide are captives, risk retention groups (RRGs), and loss portfolio transfers.