NMA - TAYLOR INSURANCE

PROPERTY & CASUALTY

  1. MEDICAL PROFESSIONAL LIABILITY - LEAD PROGRAM

  2. BUSINESS OWNERS

  3. CYBER LIABILITY

  4. WORKERS COMPENSATION

  5. PERSONAL LINES

Conceptual Overview - Mike Suter, CPCU, CA License #0604460

October 10, 2016

 

BREAKTHROUGH

NMA - TAYLOR 

INSURANCE PROGRAMS

LEAD PROGRAM

Richard Allen Williams, M.D.

President, NMA

Cardiologist; Encino, CA

 

 NMA

CALIFORNIA SPECIALISTS LIABILITY

PROGRAM

30%-50% LOWER PREMIUMS

INDUSTRY STANDARD PROTECTION

IMPROVED DESIGN & TERMS

 

SPECIALISTS

SOLO PRACTICE & MEDICAL GROUPS

SPECIALISTS: $50,000 - $100,000 SAVINGS 5 YEARS

 NMA: $100,000 ANNUALLY 500 SPECIALISTS

PLATFORM FOR NMA INSURANCE CO. RRG

INDUSTRY STANDARD

  1. "A" Rated

  2. Individual policies

  3. Claims made form; non-assessable

  4. Tail and retroactive coverage; retirement vesting

  5. Separate limits of liability; defense costs outside limits

  6. No deductibles or self insurance

  7. Physician written consent required to settle any claim

  8. Defense Attorney Panel

  9. Policy & claims administration

 

 

 

 

 

 

IMPROVED DESIGN

 

ABOVE AVERAGE RISK PROFILE

NMA SPONSORED

NO CLAIMS

CALIFORNIA

PRIVATE PRACTICE 

INDIVIDUAL PHYSICIANS

MEDICAL GROUPS

IMPROVED

DESIGN

INDEPENDENT ADMINISTRATION

SPECIALTY INSURANCE BROKER

MEDICAL GROUP SERVICES

NMA SPONSORSHIP

Revenue - Publicity - Supports Mission

 

 

 

 

 

 

 

  1. Dr. Williams
  2. Advisory Committee
  3. Annual Meeting
  4. Regional Meetings
  5. Website
  6. Membership Applications
  7. Claim Studies
  8. Best Practices
  9. Strategic Risk Partners

Prospecting Sources

National Medical Association (Region VI)

Blackdoctorscalifornia.com

BlackDoctor.org

Watts Health Foundation

Keith Lanier Black, M.D., Neurosurgery, Los Angeles, CA (323-423-3277)

Warren Strudwick, Jr., M.D. Orthopedic Surgery, Oakland, CA

Christian Head, M.D., former Head of Surgery, UCLA

 

Patrick Stockalper

Defense Attorney

SPECIALTY INSURANCE BROKER 

 

Kathy Leaf-Kanter, RN, JD

Risk Manager

Mike Suter, CPCU

Insurance Broker

CA License #0604460

Specialty Insurance Broker

NMA LIABITLIY PROGRAM - ESTIMATED SAVINGS 500 CA SPECIALISTS 

NMA LIABILITY PROGRAM

1 YEAR START UP

1) Meetings and NMA Board approval

2) Member virtual insurance survey

3) Request For Proposal to insurers

4) Select insurer strategic risk partner & order program

5) Issue certificates to physicians and bill policies

6) Begin Program & Account Management

STEP 2:  INFORMATION:

  1. Member E-Insurance Survey (Application)

  2. Rating Information

  3. Attachments (Declaration Pages; Loss Reports; Bills)

  4. NMA Website

  1. 1ST AFRICAN AMERICAN SPECIALTY MALPRACTICE BROKER

  2. #1 NATIONAL PHYSICIAN TRADE ASSOCIATION MALPRACTICE PROGRAM
  3. IMPROVE AFRICAN AMERICAN HEALTH CARE

  4. FAVORABLE WORLDWIDE PUBLIC RELATIONS

  5. LEGACY PROGRAM

  6. LEADERSHIP - ROLE MODELING

 

PHYSICIAN GROUP SERVICES

LOWER COSTS, IMPROVED SERVICE

Corporate insurance broker delivers relationships and experience

Indepedent specialty broker works for physicians not insurers

Brings new, bigger and more competitive marketplace to solo practitiioners

Risk Manager of medical group sold for $5 billio

Risk Manger with 30+ years experience with physicians, medical groups and hospitals

 

 

Defense Attorney Risk Management

Transparency & improved information - Stewardship Reports

Senior principals to answer physician questions & solve problems

Reserve Redundancy controls - quarterly review of claims

 

PHYSICIAN GROUP SERVICES

MIKE SUTER, CPCU

PHYSICIAN TRADE ASSOCIATION PROGRAM EXPERIENCE

MLK Outpatient Center

NMA Art & Risk Strategic Partnership

Art - Malpractice Insurance - Medical Students - African American Health Care

BLACK PHYSICIAN ACHIEVERS PAINTED BY LYLE SUTER

INSURANCE BROKER RESPONSIBILITIES

INSURANCE BROKER RESPONSIBILITIES

Profitable Risk Profile

IMPROVED DESIGN

IMPROVED DESIGN 

Program versus a policy

YOU'RE MALPRACTICE RATES ARE 50% HIGH...!

STOP OVERPAYING...!

 

Improved Terms - Multi Year Rate Guarantee

Industry Standard for lower cost

Avoid EXCESSIVE Base Rates

 

80% OF CLAIMS DISMISSED

EXCESSIVE PREMIUMS

59% LOSS RATIO

2006-2015

EXCESSIVE PREMIUMS

 

32% LOSS RATIO

 

2006 TO 2015

INDUSTRY SURPLUS

2-3X AMOUNT REQUIRED

GROWN 40% IN 5 YEARS 

Marketing & Sales

Member Survey & Claims Study

Physician Program Roster

Advisory Committee

Website

 

DR. WILLIAMS & NMA

STEP 1 Organize:  

  1. Dr. Williams

  2. Advisory Committee

  3. Taylor Insurance Services

  4. Broker of Record Letter - Michael Suter, Taylor Insurance Services

  5. P&C Insurance Manager (List Policy Types)

HOW?

VALUE

 

 

  1. Supports mission
  2. Platform for NMA Insurance Company RRG
  3. Business partnerships
  4. Legacy program
  5. Practice Management
  6. Website
  7. Claim Studies
  8. Initiatives (Promote Black Medical Student enrollment)
  9. Favorable publicity worldwide

 

 

Value

  1. P&C Marketplace manager
  2. Organic growth with new revenue streams
  3. More for member dues:  Free information and services by affiliated corporations and professionals
  4. Platform for NMA risk retention group - don't you need your own malpractice insurance company?  Shows enterpernurial leadership for african american communities
  5. Favorable National Publicity
  6. Strategic Business Partners
  7. Practice management
  8. Website
  9. Risk Managment

 

 

 

 

 

INSURER MARKETING STRATEGY

CHI/Optima (Diane Abbett)

Doctors Company E&S (Andre Stewart)

ProAssurance (Andrea Linder

Norcal ( Michael)

Kimber Lantry

Medical Protective

Jerry Sullivan

AIG

 

 

Marketing

Credentialing

Claims Studies

Best Practices

Risk Management

Program Design

Marketplace

Program Managers

Policyholder Service

 

 

TRADE ASSOCIATION SPONSORSHIP REVENUE

Paid by broker or insurer for marketing and/or exclusivit

Does not increase price

Can be based on approved and paid member insurance policies (fee or percentage) and/or advertising, annual and regional meeting participation

Traditional in health care 

 

 

END