SERVICES
Alternative Risk
Captives
Reinsurance
Stop-Loss
ALTERNATIVE RISK
Individuals and business owners alike gravitate towards alternative risk programs for several reasons. The fundamental reason is to achieve greater control of their risk exposure. With greater control comes the flexibility to impact costs and cash flow.
With a properly structured alternative risk program and effective risk management, captive owners have the ability to control their own insurance destiny. Additionally, premiums paid into an alternative risk program can be invested to grow the financial strength of the company and increase surplus. If the program has good claims experience it stands to generate a tremendous amount of underwriting profit for the program owners.
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Direct Access to Reinsurance
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Reduce Insurance Costs
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Wealth Accumulation
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Improve Cash Flow
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Tax Savings
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Control Risk
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Claims and Risk Management
CAPTIVES
A captive insurance company is a wholly-owned subsidiary established by a parent company to control risks of the parent organization. It is a version of self-insurance managed by the parent company. With captive insurance, the insured – the parent company – has far greater control of the management of the risk as well as cost control.
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Over 90% of the Fortune 500 companies have captives.
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It is estimated that there are more than 5,000 captives worldwide.
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The fundamental reason for a captive is to achieve greater control of risk exposure.
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With greater control comes the flexibility to impact costs and cash flow.
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Captive owners are able to control the processing of claims and have the flexibility to write the policy with provisions specific to their company's needs.
The bottom line - captives allow owners to benefit in a number of ways:
better control of risk, better control of costs and investment decisions, and better control of cash flow.
REINSURANCE
Here at PRMS, we have firsthand knowledge of the inner workings of the insurance industry and have over 40 years of experience in the reinsurance side of the business. Whether on a treaty or a facultative basis, reinsurance placements are made only with the highest rated and financially sound reinsurers worldwide.
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Reinsurance intermediary and underwriting managers
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Access to domestic and international reinsurance markets
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Cost effective structures
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Enhanced access on brokerage or direct basis
We are uniquely qualified to help companies, associations, and groups meet their reinsurance needs.
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Alternative Carrier Consulting
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Strategic and Operational Consulting
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Reinsurance and Insurance Placement
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Developing and Implementing Underwriting and Distribution Strategies
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Alternative Risk Transfer
STOP-LOSS
PRMS underwrites stop-loss coverage backed by A+ rated carrier capacity. PRMS delivers customized programs of risk management, cost containment, and financial protection. An effective stop-loss program must strike the right balance between assuming risk and controlling premium costs.
The founders of PRMS pioneered stop-loss in the U.S. some 40 years ago. Depth of experience combined with the spirit of innovation bring an unrivaled level of sophistication to your program.
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Medical Stop-Loss Plan Formation & Management
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Captive Formation & Management
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Program Analytics
PRMS will analyze your contracts, claims history, and financial exposures to identify any changes that may be advantageous. We monitor claims and reimbursements and advocate on your behalf in complex claim situations. We work with TPA's, consultants, provider networks, and hospitals, to achieve the most value from the healthcare delivery system.