Sixteen Health System Owners of American Excess Insurance Exchange, RRG Share $25 Million Distribution
<0> Premier healthcare allianceMorgan Bridges, 704-816-4152 </0>
Health system members of the Premier healthcare alliance received $25 million in distributions last month as owners of its (AEIX), Risk Retention Group (RRG).
AEIX is a provider of excess professional liability and general liability insurance covering multiple members of the alliance, and is managed by (PIMS). The 16 owners of AEIX shared the distribution on June 1.
AEIX is dedicated to value-added services that benefit member hospitals through operational transparency, collaboration and best practice sharing. Nearly $190 million has been returned to AEIX owners since its inception.
PIMS has managed AEIX for Premier alliance members for 23 years. Owners of AEIX benefit from enhanced control over insurance coverage and premium stability, and share ownership in the profits of AEIX. The group helps health systems reduce the long-term cost and volatility of excess liability insurance, while ensuring availability and access to coverage.
AEIX provides excess professional and general liability insurance hospitals and health systems. AEIX can provide up to $40 million in limits without the use of facultative reinsurance. AEIX is organized as a Vermont licensed reciprocal risk retention group, an insurance company authorized under federal legislation for the purpose of providing liability lines of insurance to its members.
Incorporated in 1987, PIMS is an Illinois for-profit corporation wholly owned by Premier Inc. PIMS provides contracted management services for American Excess Insurance Exchange, Risk Retention Group (AEIX), and is attorney-in-fact for Premier Insurance Exchange, Risk Retention Group (PRx). PIMS also serves as program manager offering enhanced endorsed programs with leading commercial insurers through a comprehensive portfolio of property, casualty and employee benefit products. Other services include providing claims and risk management assessments and education offerings regarding medical professional liability for hospitals and their physicians. For more information, visit .
Premier is one of the nation’s largest performance improvement alliances of approximately 2,800 U.S. community hospitals and 95,000 alternate sites using the power of collaboration and technology to lead the transformation to coordinated, high-quality, cost-effective care. Owned by healthcare providers, Premier operates a leading purchasing network that provided members more than $5 billion in savings in FY2012. Premier also maintains clinical, financial and outcomes databases based on 1 in every 4 patient discharges. A world leader in measurably improving patient care, Premier has one of the largest performance improvement collaboratives in America, including one in partnership with the Centers for Medicare & Medicaid Services. Headquartered in Charlotte, N.C., Premier also has an office in Washington. . Stay connected with Premier on , , and .