| Futuro Insurance Company Ltd. was
licensed as a Class III rent-a-captive facility. Domiciled in Bermuda,
a Separate Accounts Act was presented and approved by the Bermuda
Legislature in June of 1999.
Futuro is a wholly-owned subsidiary of Physicians'
Reciprocal Insurers (PRI), a New York based licensed and admitted
carrier. The second largest provider of medical malpractice insurance
in New York State, PRI has been servicing doctors since 1982. With
approximately 12,500 insureds, hundreds of healthcare facilities
and over $300 million in annual premium, PRI remains one of the
top 15 medical malpractice writers in the United States.
How Does It Work?
Eligible physicians or healthcare providers will
receive a standard non-assessable PRI policy that will be reinsured,
in part, by Futuro. Because they will have an ownership stake in
a legally segregated portion of Futuro, they will participate directly
in their own future loss experience.
Other Risk Sharing Opportunities
Although PRI has developed this program as a service
for physicians and facilities located in New York State, it can
be used to insure malpractice exposures for doctors and hospitals
in other states as well. Our risk sharing programs are designed
to afford maximum flexibility… we will be happy to discuss
new opportunities and structure tailored programs that specifically
meet your needs.
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Posted 3/5/2008: