ProAssurance

Alternative Risk & Risk Sharing

Your Alternative Risk and Risk-Sharing Experts

Your large entity’s insurance optionswhether for healthcare professional liability or workers’ compensation insurance, expand with the size of your risk. ProAssurance can help you address myriad complexities. Your situation may mean you:

  • desire a risk-sharing program that enables more control;
  • want to activate your own captive cell;
  • have a sale or purchase with complex risk valuation;
  • desire a loss portfolio transfer;
  • need to execute a large financial reinsurance transaction; or
  • have another scenario in need of options, with more noted below.

However distinct your risk, ProAssurance’s expertise and facilities can make all the difference. Achieve your goals by choosing from our flexible spectrum of single-source solutions. We pledge to make it as easy as possible while treating you fairly.

Choosing More Control and Potential Savings

You can access a variety of solutions that allow you more control with your willingness to share risk. Depending on where you are in size and that willingness, you can choose from: a variety of retention levels to assist your physician group, mid-to-large hospital, or merging healthcare entities; profit-sharing programs when you have good historical experience; or a retrospective rating program.

Your Captive Solution: Inova®

Choose the ultimate in control with your own captive cell program as part of our Inova® segregated portfolio company captive structure. Inova provides all of the expertise you need for a true single-source solution. This turnkey choice has benefitted many large participants over the years with strong outcomes. Your assets and liabilities reside securely within your cell, providing your business with a protected and stable environment.

The nature of Inova’s vertically integrated, fully bundled, specialty carrier approach provides a totally unified offering that’s easy to understand. Inova has structured a long-term reinsurance partnership with globally respected Lloyd’s of London, as well as a number of significant partnerships with highly respected financial, investment, and audit firms.

You get a true leader in the alternative insurance arena with an established segregated portfolio company authorized by the Cayman Islands Monetary Authority. Be confident knowing that Inova’s design can insulate your business from the fluctuations of traditional insurance pricing cycles, providing you with increased peace of mind. For more information, please email Kevin Shook at kshook@eains.com.

Addressing Your Very Large, Unique Underwriting and Financing Risks

When your situation presents challenging size, complexity, financing needs, and coverage requirements, ProAssurance Risk Solutions can provide a strong choice. This ProAssurance underwriting management division headquartered in Connecticut is staffed by seasoned insurance, financial, and actuarial professionals. They can assist you with individually designed, innovative options for large accounts needing more than standard terms.

Access this team for your very large medical professional liability and workers’ compensation needs, though they will consider other areas of interest. Their typical underwriting effort results in a manuscript policy or contract with a premium in the millions of dollars.

Just some of the situations this unit can address in medical professional liability include:

  • healthcare mergers and acquisitions insurance liabilities and financing
  • self-insured claim reserve liabilities of large provider groups, hospitals, medical facilities, etc.
  • unique and specialized self-insured or deductible plans to match ultimate losses with ultimate premium as closely as possible
  • effectively managing and financing the run off and/or exit costs of the claims reserve liabilities when an insured decides to close, exit, or abandon all or part of its business
  • efficient securitization and/or collateralization of large deductible or Self-Insured Retention liabilities

Solutions for workers’ compensation address a similarly broad array of needs. Contact ProAssurance Risk Solutions today by emailing Sally Gilmore at SGilmore@ProAssurance.com.