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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:
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Franchisee groups, both
through a parent franchisee organization and
independent groups of franchisees |
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Industry groups created
around an alternative market solution |
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Associations, including
healthcare and contractor associations |
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Physician groups |
For more information on how
SRS can work with your group or association, contact us at
781 487 9800 or info@strategicrisks.com
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