Highlights from this video
Preferred Classes of Business
- Healthcare Facilities:
- Clinics: Including physical therapy (PT), occupational therapy (OT), speech therapy (ST), and urgent care centers.
- Pharmacies: Both retail and specialized pharmacies.
- Home Health and Hospice Care: Services provided in patients’ homes.
- Banks: Organ, tissue, and blood banks are highly favored.
- Laboratories and Dialysis Centers: Strong appetite for labs and dialysis services.
- Alternative Risk Structures:
- ARCH excels in crafting creative solutions for complex risks, particularly for larger organizations or those needing restructuring due to past claims.
- Large Healthcare Organizations:
- Experience in underwriting large dental groups, nationwide urgent care chains, and multinational chiropractic clinics.
Risk Classes to Avoid
- Correctional Healthcare: Any exposure to prison or jail healthcare services.
- Inpatient Behavioral Health: Facilities providing inpatient mental health services.
- Certain Home Health Accounts: Specifically those requiring occurrence-form coverage.
- Venues with High Litigation Risk: Cautious with risks primarily based in New Mexico and Louisiana.
Geographical Considerations
- South Florida and Cook County, Illinois: Open to considering risks but not typically the most competitive market.
- Pennsylvania:
- Can consider facilities but have limitations with physician groups due to M Care Fund requirements.
- Avoid risks requiring admitted paper for physicians.
Coverage and Limits
- Minimum Premiums:
- Start at $10,000, varying by class, venue, and limits.
- Most effective in the $25,000 and above premium range.
- Excess Coverage:
- Can provide up to $25 million in limits to build insurance towers.
- Prefer to be involved in accounts where they are comfortable with the underlying primary coverage.
ARCH’s Competitive Edge
- Creative Underwriting:
- Willingness to devise tailored solutions for unique or challenging accounts.
- Open to early discussions to determine the best approach before full underwriting.
- Collaborative Approach:
- Dedicated underwriters assigned for consistent communication.
- Team-based strategy ensures responsiveness, even when primary contacts are unavailable.
- Comprehensive Solutions:
- Potential to partner with other divisions within ARCH for property, auto, and workers’ compensation coverage.
- Aims to offer a “One ARCH” approach for holistic client solutions.
Opportunities for Collaboration
- Healthcare Niche Focus:
- Our firm’s specialization aligns well with ARCH’s expertise.
- Potential to explore more accounts in areas like Applied Behavior Analysis (ABA) therapy and Med Spas.
- Access to Additional Programs:
- Possibility of engaging with ARCH’s programs for auto and workers’ compensation tailored to healthcare clients.
Conclusion
Our engagement with ARCH Insurance underwriters has reinforced the potential for a strong partnership. Their specialization in healthcare risks, combined with a flexible and creative underwriting approach, offers significant value for our clients. We look forward to collaborating closely with ARCH to deliver comprehensive and competitive insurance solutions in the healthcare sector.