HOW IT WORKS
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HOW IT WORKS
Southwest IPRO Captive Insurance
Play Video to learn more about Southwest IPRO and what a Captive Insurance is.
WHY CHOOSE US?
Why choose SouthwestIPRO ?
SouthwestIPRO was founded in 1988 with the following concept in mind: That 25% of doctors account for 80% of the cost of liability claims, settlements, and jury awards.
Since the founding of SouthwestIPRO, the company has returned millions of premium dollars back to physicians as a retirement benefit, and generally this amounts to 40 to 60 % of all premiums paid in by the doctor.
It was decided that to be the best captive liability company, we would want the best business services. So along with Lloyds of London we chose KPMG to audit our company yearly. We chose a captive management company, International Management Services, that has over 40 years of experience in the captive world.
SouthwestIPRO has been, since its inception, a very profitable company, and continues to be very profitable to this day.
We knew that if we eliminated for the most part the problematic 25%, that with care, risk management, some common sense and a bit of self-policing, the profits that national companies were making on us could be retained by us in our own company, and we could pay less premium as an added benefit, and return premium to doctors after retirement.
In 1988 national medical liability companies decided to squeeze doctors for much higher premiums than they traditionally paid. It was shown at that time that actuarial data did not justify these increases. As a response to these increases a group of ENT surgeons and oral surgeons, using consultants in Medical Captive Insurance, established SouthwestIPRO, and eventually added plastic surgeons, orthopedic surgeons, internal medicine physicians, and other specialty practices.
Reinsurance was provided by Lloyds of London to protect the company from shock losses, and because of the company’s stellar performance, Lloyds of London still provides this coverage.