Domenick & Associates Specialty Insurance Programs Insurance Consulting & Captive Management in Healthcare

Domenick & Associates provides insurance consulting and captive solutions to the healthcare industry. We have more than 20 years of delivering quality insurance products and work with experienced individuals that have put together captives for large health systems, restructured several fronted captive insurance programs to use Risk Retention Groups to reduce collateral and eliminate fronting fees, and consulted in the Strategic Risk Management/Enterprise Risk Management planning process for several large healthcare and managed care clients.

We provide Captive solutions for the following organizations:

  • Hospitals
  • Physician Groups
  • Long-Term Care Facilities
  • Medical Services
  • Social Services

Our Captive consulting and management services are designed to assist owners in the formation of captives and their on-going operation. They include:

Feasibility Consulting

  • Pre-feasibility Assessment
  • Development of Loss Projections in Conjunction with Actuary
  • Premium Development
  • Captive Program Design
  • Cost Benefit Analysis
  • Domicile Comparison
  • Development of Financial Pro Formas
  • Business Plan Development
  • Capital and Collateral Assessment including Negotiation with Fronting Companies
  • Identification and Selection of Service Providers

Captive Formation & Licensing

  • Application Preparation and Filing
  • Development of Governance Structure
  • Development of Captive Operating Manual

Regulatory Compliance Services

  • Ensuring Regulatory Compliance in the Local Domicile
  • Preparation and Filing of Regulatory Reports
  • Maintenance of Records in accordance with Regulatory Requirements
  • Responding to Regulatory Examinations and Inquiries

Insurance Consulting

  • Issuance of Policies and/or Certificates of Insurance
  • Reconciliation of Ceded Reinsurance
  • Preparation of Analytic Reports including Benchmarking and Cause of Loss Reports
  • Management of Exposure and Loss Data