Groups

Groups and Associations

The aggregation of risk exposures through a formalized group such as an Association represents an opportunity for the individual members to achieve efficiencies that they would not normally be able to achieve on their own. These efficiencies stem both from economies of scale in procurement and from the ability to share in the risks of the group. As most groups comprise homogenous but independent members, the spreading of risk that is key to the insurance process can be achieved within the group itself. This makes groups ideal candidates for alternative market solutions, such as group captives, mutuals and risk retention groups. Structured correctly these vehicles can deliver savings to the individual members and allow the group or association to deliver value added services to its membership. In some cases, the alternative market vehicle can provide focus and even funding to support the group's broader objectives and activities.

SRS has a long history of working with groups and associations to form and manage group captives, mutuals and risk retention groups. Our independence allows us to work objectively with all the members' existing service providers in designing and implementing an alternative market solution. This independence also allows for the solution to be marketed on an unbiased basis through the insurance industry's existing distribution channels. Our experience in this area allows us to understand the unique characteristics of a group including the governance, cost allocation, decision-making and ownership issues associated with a group sponsored solution.

SRS has worked with a variety of groups and associations to design alternative market solutions. These include:

	Franchisee groups, both through a parent franchisee organization and independent groups of franchisees
	Industry groups created around an alternative market solution
	Associations, including healthcare and contractor associations
	Physician groups