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Hospitals and Health Systems

Healthcare is Changing

We’re in the midst of a healthcare revolution. Traditional models of healthcare delivery are being challenged and government regulations and oversight is increasing. The complexity of new and emerging exposures challenge administrators to provide practical solutions, especially in the face of declining reimbursements and unpredictable claims. The need for a knowledgeable and innovative strategic partner has never been greater.

Your Coverage, Your Way

MedPro RRG can make available a variety of coverage and risk sharing options, which may include:

  • First-dollar coverage: Provides payment of all costs and/or losses associated with a claim, from the first dollar of loss to the full limits purchased.
  • Excess coverage: With individual or shared excess, either directly above the working layer or acting as high-level catastrophic coverage, MedPro RRG has the capacity and pricing to offer competitive excess coverage solutions. Coupled with the claims services of Princeton Insurance Company, a Berkshire Hathaway/MedPro Group company, consolidating excess coverage ensures a consistent claims defense no matter how small or large the potential loss, simplifying and streamlining your insurance structure.
  • Deductibles and self-insured retentions: You decide not only how much risk you retain, but also whether the deductible or retention is for indemnity payments only, or both indemnity and defense expense. It’s your choice.
  • Reinsurance: Reinsurance is insurance purchased by one healthcare malpractice provider from another insurer to mitigate risk. Whether through its relationship with the nation’s oldest and strongest healthcare malpractice insurer, Medical Protective, or through Medical Protective affiliates, MedPro RRG can tailor reinsurance solutions to fit your requirements.
  • Loss portfolio transfer: Loss obligations already incurred but not yet paid (whether reported or not), are ceded to a reinsurer. The company taking on the transfer typically manages all claims ceded until they are resolved. When managing claims, Princeton’s expertise is joined by Medical Protective’s 115+ years of experience defending the assets and reputations of healthcare providers.
  • Performance-based risk sharing: MedPro RRG may offer both loss-sensitive and retrospective rating plans, with final premium pricing based on loss experience.
  • Risk management services: Unbundled risk management and patient safety services can be delivered through MedPro RRG’s service provider, Princeton Insurance. With the knowledge that comes from analyzing and quantifying decades of healthcare malpractice claims data, Princeton can identify opportunities and create customized risk management solutions tailored to your actual needs. Princeton risk managers are experts in patient safety, electronic health records implementation, professional liability insurance, quality and performance improvement, continuing education and national healthcare policy.
  • Captive company: The primary purpose of a captive is to finance risks associated with its owners or participants. With the proliferation of both onshore and offshore captives, some may not offer the financial strength of an A.M. Best-rated A++ (Superior) company. MedPro RRG can work with you to meet your captive needs, including:

Captive reinsurance: From quota-share to excess-of-loss, MedPro RRG is positioned to provide preferred reinsurance options for self-funded programs and captives. A reinsurance program can be tailored to best suit your individual risk profile, choosing the best attachment point according to your risk/cost appetite and even providing solutions to guard against unusual loss patterns. 

Captive claims management services: Through service provider Princeton Insurance, MedPro RRG can provide unbundled claims services from the claims experts that average 30 years of experience at the supervisory level. Princeton’s experience and expertise is joined by that of Medical Protective, the nation’s oldest and strongest malpractice insurer, which has handled over 400,000 healthcare malpractice claims.

Captive underwriting services: Princeton Insurance, as the service provider of MedPro RRG, can assist in
establishing and updating your underwriting protocols as exposures evolve. This will help your captive not only by providing for proper risk identification and pricing, but also aiding in affiliating with, hiring and retaining only the most
qualified providers.

Physician exposure carve-out: As health systems grow larger through acquisitions and consolidations, the complexity as well as the sheer size of physician exposures can create an unbalanced risk profile within a captive program, sometimes requiring additional capital funding in addition to annual premium funding.  In some situations, a preferred solution involves carving certain physician exposures out of the captive and placing them directly with another insurance carrier either on a first dollar, full risk transfer basis or with appropriate deductibles or retentions. MedPro RRG, through service provider Princeton Insurance, has the specific underwriting and actuarial knowledge to quantify these risks and help you determine whether it makes sense to keep them in the captive or carve them out.

Contact MedPro RRG today for more information or to schedule a no-obligation exposure analysis.

MedPro RRG Risk Retention Group
Administrative Address: New York physician and hospital business serviced by Princeton Insurance Company, 746 Alexander Road, P.O. Box 5322, Princeton, New Jersey 08543-5322
Statutory Address: 1050 K Street NW, Suite 400, Washington, D.C. 20001