Premier Insurance Management Services Participants Receive Nearly $1 Million in Dividends.CHARLOTTE, N.C. -- Nearly $1 million in dividends have been returned to 35 healthcare systems through the Excess Worker's Compensation program sponsored by Premier Insurance Management Services, a subsidiary of the Premier Inc. healthcare alliance. The distributions, made on July 31, 2006, came from profits posted from 1994 to 2002 by American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ) and Safety National Casualty Corporation, which provided the insurance to the 35 participating Premier, Inc. healthcare systems. Premier Insurance Management Services has offered the program to Premier members since 1993. The Premier Insurance Management Services-sponsored excess workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. program has been underwritten by Safety National Casualty Company since 2000. This program provides participating members with the opportunity for profit-sharing of up to 30 percent of their premium. The program has 53 participants with premium volume of $11.3 million. About Premier Insurance Management Services, Inc. (PIMS PIMS Pacific Institute for the Mathematical Sciences PIMS Penalty Minutes (hockey) PIMS Pakistan Institute of Medical Sciences PIMS Profit Impact of Market Strategy PIMS Project Information Management System ) Premier Insurance Management Services provides contracted program services for the American Excess Insurance Exchange, Risk Retention Group (AEIX) as part of its excess medical professional liability program, and is also attorney-in-fact for Premier Insurance Exchange, RRG RRG Risk Retention Group (insurance industry) RRG Red River Gorge (outdoor recreation area in Kentucky) RRG Rodrigues Island, Mauritius - Rodrigues (Airport Code) (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. Additional services include providing claims and risk management assessments and education offerings regarding medical professional liability for hospitals and their physicians. PIMS is an Illinois for-profit corporation A for-profit corporation is a corporation that is intended to operate a business which will return a profit to the owners. A for-profit corporation, depending on the jurisdiction to which it is incorporated, may be operated either as a stock corporation or as a non-stock , incorporated in 1987, and wholly owned by Premier Inc. 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 self-insured retention 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 The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. . 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. For more information, visit www.premierinc.com/insurance. About Premier Inc. A healthcare alliance entirely owned by more than 200 of the nation's leading not-for-profit hospitals and healthcare systems, Premier Inc. helps hospitals accelerate both clinical and financial performance. Premier's shareholders operate or are affiliated with 1,500 hospitals and more than 41,000 other healthcare sites. Premier's members and clients benefit from group purchasing and supply Purchasing and Supply can have several different definitions. According to the Institute for Supply Management (ISM) [1], purchasing is defined as a major function of an organization that is responsible for acquisition of required materials, services, and equipment. chain services, clinical and operational performance measurement, benchmarking and insurance programs. Headquartered in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , CA, Premier has offices in Charlotte, N.C., and Washington, D.C. For more information, visit www.premierinc.com. |
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