CHARLOTTE, N.C.–(BUSINESS WIRE)–Premier Insurance Management Services Inc. (PIMS) has returned $2,282,544 in experience credit payments to 45 Premier healthcare alliance member hospitals and health systems that participate in its Excess Workers’ Compensation sponsored insurance program.
The experience credit payments were made on January 3, 2011, from profits posted for policy years 2005/2006 and 2006/2007 with Safety National, which provided the insurance.
PIMS has offered the Excess Workers’ Compensation sponsored program to Premier alliance members since 1993. Through the program, participating members have the opportunity for experience credit payments based on favorable program experience. Since inception, over $7 million has been paid to participants.
About Safety National
In business since 1942, Safety National is the market leader in excess workers’ compensation insurance, and also provides alternative workers’ compensation products, large casualty programs, self-insurance bonds and assumed reinsurance. For more information about Safety National, visit www.SafetyNational.com.
About Premier Insurance Management Services Inc. (PIMS)
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 sponsored 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 http://www.premierinc.com/risk/tools-services/pims/index.jsp.
About the Premier healthcare alliance, Malcolm Baldrige National Quality Award recipient
Premier is a performance improvement alliance of more than 2,400 U.S. hospitals and 72,000-plus other healthcare sites using the power of collaboration to lead the transformation to high quality, cost-effective care. Owned by hospitals, health systems and other providers, Premier maintains the nation’s most comprehensive repository of clinical, financial and outcomes information and operates a leading healthcare purchasing network. A world leader in helping deliver measurable improvements in care, Premier works with the Centers for Medicare & Medicaid Services and the United Kingdom’s National Health Service North West to improve hospital performance. Headquartered in Charlotte, N.C., Premier also has an office in Washington.
SOURCE: BusinessWire