“Because the insurance broker is so critical to the development and implementation of the risk-financing plan, selecting a broker should be undertaken in a highly structured manner.”



Yüklə 488 b.
tarix01.11.2017
ölçüsü488 b.



“Because the insurance broker is so critical to the development and implementation of the risk-financing plan, selecting a broker should be undertaken in a highly structured manner.”

  • “Because the insurance broker is so critical to the development and implementation of the risk-financing plan, selecting a broker should be undertaken in a highly structured manner.”

  • Managing Medical Professional Liability Risk: An Insurance Primer

    • Published by University Health System Consortium


Definitions

  • Definitions

    • Broker
    • Agent
    • Direct writer
    • “Going direct”


Services performed

  • Services performed

    • Insurance placement
    • Policy review
    • Claims handling
    • Loss control consulting
    • Actuarial services
    • Business continuity planning
    • Captive feasibility and management
    • Risk management department staffing


Players

  • Players

    • Major brokers
      • Marsh, Aon, Gallagher, Willis
    • Regional Brokers or Agents
    • Local Agents
    • Niche Brokers
    • Consultants


Selection

  • Selection

    • Needs assessment, service requirements
    • Relationship with broker/underwriter (middleman or partner)
    • Bid insurance versus bid brokerage services
    • Constraints: institutional or legal
    • Politics
    • Decision method: executive versus committee approach
    • Broker Agreement


Selection – Compensation

  • Selection – Compensation

    • Fee
    • Commission
    • Incentive based


Bidding Insurance

  • Bidding Insurance

    • Determining who can bid
    • RFP for insurance only or also insurance broker/agent services
    • Unstructured bidding
    • Bidders assigned insurance markets


Bidding Services

  • Bidding Services

    • RFQ: written response
    • RFP to top responders to RFQ: written or oral presentation
    • Contract
    • Broker of record letters
    • Insurance required of broker


Pitfalls

  • Pitfalls

    • Commission driven premium pricing
    • Selecting firm/selecting individuals
    • One broker or more?
    • Ethics
      • Lunch, dinner, baseball
      • Underwriting trips


Monitoring the relationship

  • Monitoring the relationship

    • Quality of service
      • Evaluation against stated service requirements
      • Qualitative evaluation
      • Broker self-evaluation: stewardship reports
    • Compensation – commission + contingent (MSA) commission + service fee + incentives??


Questions?

  • Questions?

  • Thank you for your time




Dostları ilə paylaş:


Verilənlər bazası müəlliflik hüququ ilə müdafiə olunur ©muhaz.org 2019
rəhbərliyinə müraciət

    Ana səhifə