Alterna has entered into the alternative risk marketplace, specifically focusing on providing medical professional liability services for physicians, clinics, and hospital groups through one company.
Most group insurance facilities (i.e., risk retention groups (RRGs), captives) have several third-party service providers supporting their core structure which can lead to gaps in service and data sharing.
Alterna offers in-house services like financial reporting, regulatory compliance, underwriting and policy issuance, risk management consulting and live support, continuing medical education (accredited and specialty-specific), claims administration, and other management services including marketing, reinsurance, and hosting.
Physicians, clinics, and hospitals have quite a lot of captive insurance structures to choose from, all with different regulatory requirements relying on the state wherein the captive is located. The participants inside the captive, however, shouldn't have to be located in the same state (or even country) since the captive. “This can get complicated that's why the expertise of the captive management company is very important,†says Mary-Lou Misrahy, chief executive officer for Alterna.
Alterna currently has two risk retention management companies under contract servicing SCRUBS RRG and EMPAC RRG.
Alterna provides the health care industry with alternative risk options, management, and services through a team of industry specialists. The company is a very owned subsidiary of Physicians Insurance A Mutual Company, which has provided surgeon liability insurance for 30 years. Alterna has offices in Florida, Nevada, Vermont, Washington, and West Virginia.
