Captive Management Services
Our thirty years of experience and client results have
reinforced our position that the most effective way to reduce the
cost of managing professional liability insurance is to also manage
the quality of healthcare outcomes and enhance patient safety. This
is a two-fold process …
- Develop a system and process, supported with expertise and
software efficiencies, that identifies patient safety issues
REAL-TIME, driving immediate action so that further exposure can be
avoided; and…
- Consider the creation of a Captive Insurance Company that will
modify excessive liability insurance payments and reward your
efforts to enhance care and decrease exposure.
Captive Design and Development
Clarity assists senior management and their boards of
directors to articulate their strategic goals in the formation of
an alternative risk financing vehicle. From these goals various
models for the creation of an insurance operation are explored for
their fit with a number of criteria including regulatory, financial
and operational considerations.
Once the selection of insurance operation model is made, Clarity
completes the formation and licensing process appropriate to the
domicile for the company. Key aspects of this phase include:
business plan development, actuarial analysis and rating plan
design, application and policy forms development, claims and risk
management systems design, and financial documents. Coordination
with the healthcare organization's internal systems is central to
the formation process.
Captive Operations
Clarity provides the services to operate and manage the
Captive insurance company. A full-service provider, Clarity
provides underwriting Policy Administration, risk and claim
management services alongside regulatory compliance and financial
reporting and management for the company. Core to the operation's
philosophy is Clarity's Total Risk, Quality, Safety, Service
Management Model (The TRQS2 Model™) which integrates the
healthcare organization's efforts to enhance healthcare excellence
with the insurance product to help support good financial
performance of the insurance entity making the connection between
quality and liability explicit.
For more information about Captives and Risk
Retention Groups, read the White Paper: Healthcare Captives &
RRGs