Alternative Risk Transfer

Your Alternative Risk Options

Your large entity’s insurance options, whether for healthcare professional liability or workers’ compensation insurance, expand with the size of your risk. We can help you address a myriad of complexities.

You may be interested in:

• Risk-sharing programs that enable more control
• Activating your own captive cell
• Complex risk valuation for a sale or purchase
• A loss portfolio transfer
• Large financial reinsurance transactions
• More options, as noted below

Your risk is distinctive; let us provide expertise for insuring your healthcare facility. You can choose from our flexible spectrum of single-source solutions. We pledge to make it as easy as possible for you to achieve your business goals while treating you fairly.

Save With Risk-Sharing and get More Control

You can access a variety of solutions that allow you more control with your willingness to share risk.

You can choose from:

• Various retention levels to assist your physician group, mid-to-large hospital, or merging healthcare entities with efficient securitization/collateralization
• Profit-sharing programs when you have multi-year policy exposure, good loss experience, and strong risk management program
• A retrospective rating program with an alternative, individualized method for pricing

Your Captive Solution: Inova®

If you are seeking greater control over your insurance program, consider the smart alternative to traditional insurance—Inova alternative insurance. Inova offers agencies, large entities, and associations all the expertise needed for a true single-source captive solution.

Inova provides a secure, stable insurance environment through its Segregated Portfolio Company (SPC) structure. An SPC is a single legal entity comprised of individual “protected cells.” Your assets and liabilities reside securely within your own cell, providing better control over insurance costs and outcomes.  

Inova’s vertically integrated, fully bundled, specialty carrier approach makes creating, participating, and benefiting from a program as easy as possible. A true leader in alternative insurance, Inova’s Eastern Re was the first SPC to be authorized by the Cayman Islands Monetary Authority. Inova has structured, solid partnerships with globally respected Lloyd’s of London reinsurance partners, as well as highly respected financial, investment, and audit firms.

You can be confident knowing that Inova’s SPC structure can protect your business from the fluctuations of traditional insurance pricing cycles—providing you with greater peace of mind.

Addressing Your Very Large, Unique Underwriting and Financing Risks

ProAssurance can assist with innovative and individualized medical professional liability and workers’ compensation solutions for your large accounts with unique needs. 

Consider creating a single-source solution when your coverage presents:

• Challenging size
• Complexity
• Financing needs
• Other coverage requirements

Typical underwriting efforts result in a manuscript policy or contract with a premium in the millions of dollars.

ProAssurance can address the following in medical professional liability coverage:

• Healthcare mergers and acquisitions insurance liabilities and financing
• Self-insured claim reserve liabilities of large provider groups, hospitals, etc.
• Unique and specialized self-insurance or deductible plans to match ultimate losses and premium as closely as possible
• Effectively manage and finance run-off or exit costs of the claims reserve liabilities when an insured closes, exits, or abandons all or part of its business
• Efficient securitization and/or collateralization of large deductible or Self-Insured Retention (SIR) liabilities

Contact

Shep Tapasak
Senior Vice President, Specialty Underwriting

Email: ShepTapasak@ProAssurance.com
Phone: 205-776-3034

Katy Ladisch
Assistant Vice President, Specialty Underwriting
Reinsurance/Alternative Risk

Email: KatyLadisch@ProAssurance.com
Phone: 205-776-3080