Michael Maglaras Videos

michael-maglaras

With more than 35 years of healthcare liability insurance and consulting experience, Mr. Maglaras is the principal of Michael Maglaras & Company, an international insurance consulting firm specializing in providing insurance program consulting advice for a variety of healthcare providers and other businesses.

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237 Hillside Road
Ashford, CT 06278
mmaglaras@michaelmaglaras.com
(203) 348-6100

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Mr. Maglaras is the principal of Michael Maglaras & Company, an international insurance consulting firm specializing in providing insurance program consulting advice, including self-insurance and captive insurance company feasibility testing and other alternatives to traditional insurance programs for a variety of healthcare providers and other businesses. Mr. Maglaras has had more than 35 years of healthcare liability insurance and consulting experience. He has been involved in the formation of more than 145 captive insurance companies, including four of the original companies formed after the passage of the federal Liability Risk Retention Act of 1986, as well as four insurers formed by state medical societies in the 1980s and 1990s as a result of the medical professional liability crisis in availability and affordability. He serves as an insurance consultant and risk management adviser to integrated healthcare delivery systems, physicians groups, and other healthcare providers nationally. He is a frequent author and lecturer on the subjects of risk financing, risk management, and healthcare liability insurance issues. He serves as an independent director on the boards of a number of captive insurance companies in various domiciles.


  • Healthcare Liability Captives a Significant Segment of the Captive Industry

     
    Captive Use Trends & Innovations  | Industry Applications | Michael Maglaras | Principal | Michael Maglaras & Company 

    Healthcare liability captives represent a very meaningful market segment. In Vermont and Cayman, for example, both in terms of numbers of licenses as well as premium volume, captives underwriting healthcare liability coverages predominate. Healthcare liability captives are a very important segment of the captive industry and are becoming even more so under Accountable Care.



  • Accountable Care's Effect on Medical Professional Liability

     
    Captive Use Trends & Innovations  | Industry Applications | Michael Maglaras | Principal | Michael Maglaras & Company 

    Healthcare liability captives are essentially warehouses for liability claims that have accumulated substantial amounts of claim data. They are now beginning to mine that data to determine ways to improve the quality of care. The management of reputational risk is one of the most significant risks facing healthcare institutions, and the integration of claims data into a quality improvement process is a key to managing this risk. This is changing the medical liability framework right before our eyes.



  • Healthcare Captives Will Write New Lines of Coverage in Response to Accountable Care

     
    Captive Use Trends & Innovations  | Industry Applications | Michael Maglaras | Principal | Michael Maglaras & Company 

    Increasingly, the healthcare system owners of captives will need to carefully examine the use of captive capital and surplus to support the underwriting of insurance and reinsurance in areas that are expected to make a difference in the financial margins of captive parents. Mike Maglaras discusses three types of risks for which healthcare liability captives will be increasingly used in the future: stop loss capitation, cyber and breach liability, and directors and officers liability.



  • Accountable Care Rollout Creates Special Demands on Medical Professional Liability Captives

     
    Captive Use Trends & Innovations  | Industry Applications | Michael Maglaras | Principal | Michael Maglaras & Company 

    Healthcare liability captives will be on the forefront of improving quality and outcomes under accountable care and will need greatly expanded budgets and support services to accomplish this.



  • Healthcare Liability Captives Play a Role in Improving Patient Care

     
    Captive Use Trends & Innovations  | Industry Applications | Michael Maglaras | Principal | Michael Maglaras & Company 

    Healthcare liability captives contain a wealth of historical claim data related to patient safety failures and lapses in the standard of care. Under accountable care and under population management, breaches in the standard of care will increasingly not be reimbursed by payers. Historically, there was little dialogue between risk management departments and quality improvement departments in healthcare systems. The walls are coming down and we are seeing improvement in the quality of care directly related to the mistakes of the past.



  • Healthcare Liability Captives Thrive in a Soft Professional Liability Market

     
    Captive Use Trends & Innovations  | Industry Applications | Michael Maglaras | Principal | Michael Maglaras & Company 

    Captive expert Michael Maglaras believes the soft medical professional liability market we've experienced over the past decade will continue for many years to come. This begs the question of what will become of healthcare liability captives. He contends they will continue to thrive because they have evolved to the point that they are focused much less on “price” and a great deal more on control over the claims management and adjustment process. Simply put, healthcare liability captives give healthcare systems control over their destiny, and they will not give this up.