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Beazley Group Plc
Caymich Member Hospitals First to Benefit From Innovative Approach to Professional Liability Insurance
November 1st, 2008
US hospitals are used to paying substantial sums to their professional liability insurers. They are far less familiar with receiving substantial sums back. But this has been the experience of Caymich Insurance Company, Ltd., a captive insurer owned by a number of Michigan's most respected hospital systems. Caymich has become the first recipient of a payment from some of its reinsurers under Beazley's innovative QUIRP (Quality Indicator Return Premium) program, designed to incentivize hospitals to pursue quality initiatives that reduce their vulnerability to malpractice lawsuits. Nat Cross, head of Beazley's healthcare practice, reported that the...
Source: Law & Health Weekly (2008-11-01)
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