Outsourced Services: Malpractice Insurers and Captives

MRM has developed outsourcing capabilities to assist medical malpractice insurers, captives and risk retention groups in establishing, implementing and monitoring ongoing performance of risk management programs.

MRM's portfolio of products for insurers and captives include:

1. Pre-underwriting Assessments and Audits – By leveraging the MRM risk management team's experience, MRM can function as an outsourced risk management department (or an extension of the carrier's existing risk management department) to assist the carrier in gathering critical underwriting information regarding the insured's potential risk exposures. The results of these assessments provide insights into the areas most vulnerable to claims and generate specific and pragmatic recommendations regarding risk mitigation programs.
   
   
2. Annual Risk Exposure Assessments – This service allows the carrier/captive to have an annual "actionable" report developed for each insured outlining continued deficiencies (if they exist), areas of quantifiable improvement, and /or new risk exposures that may have developed during the proceeding year.
   
   
3. Outsourcing: "Risk Management Program" – MRM is positioned to work with carriers/captives and their insureds to design, implement and monitor compliance with customized risk management programs. These programs are designed to foster a long term "partnership" among the insured and the carrier built upon a foundation of disciplined risk management programs. The risk management program's success and/or vulnerabilities can be objectively measured and tracked annually. The risk management program is typically overseen by a "risk management committee" established by the carrier, insured and MRM to monitor the specifics of the program.
   
   The objectives of this program include the following.
   • Determine insured's greatest risk exposures, design and implement a risk management program to mitigate those risks, agree upon a mechanism to measure successful implementations of the program and jointly monitor ongoing effectiveness of the program.
   • Create a oversight structure that fosters a long term "risk management partnership" between insured and carrier.
   • Ultimately reduce losses and assist insured in proactively impacting their loss costs and/or annual premium
   
   
4. Custom Designed Programs – MRM will work with carriers, captives and risk retention groups to custom design risk management programs that include any or all of the products and services outlined under "Our Products and Services", including specialty specific educational modules, progressive peer review etc…

For more information on any of these services contact MRM directly.