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  • American Excess Insurance Exchange, RRG ranked by SNL Financial among top 10 best performing midsized commercial insurance companies

    American Excess Insurance Exchange, RRG ranked by SNL Financial among top 10 best performing midsized commercial insurance companies
    The AEIX program helps health systems reduce the long-term cost and volatility of excess liability insurance, while ensuring availability and access to coverage

    June 1, 2011

    CHARLOTTE, N.C. (June 1, 2011) – American Excess Insurance Exchange (AEIX), Risk Retention Group has been ranked among the top 10 best performing midsized commercial insurance companies of 2010 by SNL Financial.

    AEIX, a provider of excess professional liability and general liability insurance covering 101 hospitals and associated entities and managed by Premier Insurance Management Services Inc. (PIMS), was ranked number seven on the list.

    To determine the performance scores of the companies, SNL calculated 13 key statutory metrics, and a weighted average was applied to each category. Returns, both on assets and equity, and profitability ratios relative to premium were the highest weighted categories at 35 and 30 percent, respectively.

    For more than 20 years, PIMS has managed AEIX for alliance members. Owners of AEIX benefit from enhanced control over insurance coverage and premium stability, and share ownership in its profits.

    AEIX helps health systems reduce the long-term cost and volatility of excess liability insurance, while ensuring availability and access to coverage. As of June 1, 2011, the program has returned more than $144 million to participants since inception.

    About AEIX
    AEIX provides excess professional and general liability insurance to not-for-profit hospitals and health systems. To qualify for participation in AEIX, an organization is required to maintain a minimum self-insured retention of $2 million and an in-house professionally staffed claims and risk management group. 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.

    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 sponsored 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 http://www.premierinc.com/risk/tools-services/pims/index.jsp.

    About the Premier healthcare alliance, Malcolm Baldrige National Quality Award recipient
    Premier is a performance improvement alliance of more than 2,500 U.S. hospitals and 75,000-plus other healthcare sites using the power of collaboration to lead the transformation to high quality, cost-effective care. Owned by hospitals, health systems and other providers, Premier maintains the nation’s most comprehensive repository of clinical, financial and outcomes information and operates a leading healthcare purchasing network. A world leader in helping deliver measurable improvements in care, Premier has worked with the Centers for Medicare & Medicaid Services and the United Kingdom’s National Health Service North West to improve hospital performance. Headquartered in Charlotte, N.C., Premier also has an office in Washington. http://www.premierinc.com. Stay connected with Premier on Facebook, Twitter and YouTube.