The AEIX program, managed by Premier Insurance Management Services Inc., has returned nearly $190 million to participants since inception
For Immediate Release
Health system members of the Premier healthcare alliance received $25 million in distributions last month as owners of its American Excess Insurance Exchange (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 Premier Insurance Management Services Inc. (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. www.aeixrrg.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 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 www.premierinc.com.
About Premier Inc.
Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,750 U.S. hospitals and more than 130,000 other provider organizations. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier, a Malcolm Baldrige National Quality Award recipient, plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on www.premierinc.com; as well as Twitter, Facebook, LinkedIn, YouTube, Instagram and Premier’s blog for more information about the company.