Issued annually to current AEIX members
Since 2004, AEIX has provided members with an annual benchmark report of demographic, claims and performance metrics. Each report is tailored specifically for the individual insured, and provides metrics specific to each insured individually and also for all AEIX policyholders combined. This reports aids AEIX members in sharing data, analyzing claim trends, and comparing metrics against other similarly-sized systems within the RRG and published industry benchmarks.
One of the most extensive professional liability databases in the nation
AEIX has one of the largest professional liability databases in the nation, with almost 150,000 claims and $5.0 billion in incurred losses. The database includes HPL, PPL and GL claims data, and covers 23 states.
Comparisons to industry benchmark reports and other insureds
The AEIX benchmark report includes the following comparative metrics:
- claim frequency and severity (by accident year and closing year)
- cause of loss
- closed claim statistics by state
- lag time metrics
- departmental analysis of obstetrical, surgical and emergency department related claims
- reserving accuracy
- limits and retention comparisons
- loss ratios
- claim resolution trends
Provides transparency of risk exposures
The report provides exposure count information, policy structure (limits and retention), trends in employment of physicians and other general demographic indicators for each member (anonymously), which allows member hospitals to compare themselves to the AEIX pool. This also provides transparency to members as to the risks that are insured by the AEIX program and the size of the other systems.
Used for board presentations
Many AEIX members utilize the exhibits provided in the AEIX benchmark report in presentations to their boards, and for reference of claims trends and comparisons, which allows them to identify and focus in on areas of risk or high severity.