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Increasingly physicians are unwilling to over pay for their malpractice insurance and are turning to risk retention groups to finance risk. Risk Retention Groups (RRGs) are professional liability insurance organizations that are owned by their subscribers. Physicians began turning to RRGs, authorized by the Liability Risk Retention Act (LRRA), in 2002 when commercial insurers raised their premiums to extraordinary levels and some insurers stopped writing professional liability coverage. Popular because of their cost savings and program control benefits, physician-owned RRGs have grown dramatically, with more than 70 formed in the last seven years and today 40% of all RRGs are physician owned. Physhield is unique among risk retention groups, protecting your practice while increasing your assets. |
| Physhield's Core Benefits |
Lower management expenses, lower premiums, program control and stability, underwriting and investment surpluses (“profits”) returned to subscribers, and a vigorous claims defense philosophy
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| Why Physhield’s Premiums Are Lower |
No requirement to subsidize physicians with unfavorable loss experience. No profit component built into premium. Lower management and distribution expenses. Underwriting policy controlled by subscribing doctors, Aggressive claims management with arbitration and claims mitigation programs.
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| Risk Segregation Option |
Physhield can segregate your group’s risk pool, similar to a stand-alone captive insurer. Opportunity to tailor your reinsurance program to meet your needs.
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| Start-up Costs |
No start-up costs, which could total $1 million or more for equivalent captives.
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| Capital Requirements |
Physicians are only required to make a refundable surplus contribution in the first year of one third of their mature, claims made premium. Risk retention groups are not assessable
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Click here to request a comparison of your group's current malpractice coverage and premium versus Physhield's.
