The American Excess Insurance Exchange (AEIX) and Risk Retention Group(RRG) said that they will distribute a surplus of more than $11m to 14 AEIX owner healthcare systems that are members of the premier healthcare alliance.
AEIX is a provider of excess professional liability and general liability insurance covering multiple members of the alliance, and is managed by Premier Insurance Management Services.
PIMS has managed AEIX for premier alliance members. Owners of the AEIX, RRG benefit from enhanced control over insurance coverage and premium stability, and share ownership in the profits of AEIX.
Premier Insurance has said that the AEIX has helped healthcare systems reduce the long-term cost and volatility of excess liability insurance, while ensuring availability and access to coverage. The program has returned nearly $111m to participants since inception.
PIMS provides contracted management services for AEIX, Risk Retention Group, and is attorney-in-fact for Premier Insurance Exchange, Risk Retention Group (Prx).