BKS Partners’ Healthcare Risk Map™ of malpractice insurance program yields $200K in savings for a new client, including a proprietary profit-sharing component to capitalize on underwriting results.
A specialty physician group with 50 doctors in multiple locations was frustrated with the volatility in the standard after market. The physicians sought greater control over their insurance program and engaged with BKS Partners Physician Practice Group to explore alternative-risk financing strategies.
BKS Partners’ comprehensive analysis determined while not large enough to consider a standalone captive, the physician group had favorable claims experience to explore alternative risk transfer options. BKS Partners along with a leading Medical Professional Liability carrier partner designed a proprietary hybrid captive solution to significantly reduce premium expenses, provide less volatility, and present an opportunity for return of premium dollars based on positive claims experience.