American Excess Insurance Exchange, RRG (AEIX) is a Vermont-licensed, reciprocal risk retention group (RRG) of sophisticated, not-for-profit healthcare systems. This alliance is dedicated to providing quality care and improving patient outcomes, as well as ensuring the financial health of the organization. The AEIX professional liability program began in 1990. AEIX’s exceptional risk pool and loss experience has resulted in long term premium stability which insulates its members from typical commercial market swings. A primary feature of an RRG’s structure is that any profits generated are ultimately returned to the members. AEIX has returned approximately $222 million to its participants through June 30, 2014.
Strong governance and sharing best practices are cornerstones of AEIX. Three governance committees, led by the members, meet multiple times each year. These committee meetings facilitate best practice sharing, innovation, collaboration, and contribute to complete operational transparency, between AEIX and its members. For more about the structure of AEIX, please visit Ownership.
AEIX has contracted with Premier Insurance Management Services Inc. (PIMS) for management of the RRG. For information about PIMS please visit About PIMS.
Superior claim management services are provided which include: claim department capability assessments; process improvement analysis; education seminars; evaluation of defense counsel and fee bill reviews; and resources for verdict/settlement evaluations. For more about claims services, please visit Claims Management.
PIMS’ risk management consultants engage with AEIX members to improve quality, patient safety, and to reduce the incidence of harm. AEIX members participate in groundbreaking risk management and quality improvement programs at no additional charge. Members benefit from the best practices learned in multi-year collaborations, and from participating in PIMS’ innovative Clinical Risk Management benchmarking program. AEIX participants receive on-site services and other resources annually at no additional charge. For more information about PIMS Risk Management, please visit Risk Management.
A comprehensive benchmarking report is provided to AEIX members on an annual basis. The report allows for comparison of demographic and performance metrics, and leads to greater transparency of risk and exposure. Individualized reports include comparisons for employed physicians, cumulative loss ratios, department claim comparisons, overall reserving accuracy and resource utilization. Additionally, member satisfaction and financial performance are measured. For more information about the AEIX Benchmark report, please visit Benchmarking.