QHR, Gallagher Partnership Yields More Than $4 Million
Brentwood, Tenn. (February 18, 2009) – Sixteen QHR hospital clients received unexpected checks totaling nearly $4.4 million in February.
The payments – ranging from $65,000 to more than $750,000 – were paid to QHR hospital clients participating in a unique and innovative partnership between the hospital management company and Gallagher Healthcare Insurance Services. Under the QHR/Gallagher Retro Insurance Program, hospital groups that experience less than projected risk management expenses are eligible for a premium return of up to 50 percent. The checks issued to the QHR group this month reflect premium refunds for 2003 and 2004.
“Particularly in these challenging times, it’s important that hospitals have the financial security and underwriting capacity to participate in a hospital professional liability/general liability insurance plan,”
said QHR President and CEO James L. Horrar. “This program with Gallagher not only provides access to such a plan, it also allows our hospital clients to benefit when our group meets its risk management goals, sharing in any potential underwriting profits.”
QHR recently renewed its contract with Arthur J. Gallagher Risk Management Services, the fourth largest insurance brokerage and risk management services firm worldwide. The company, a QHR service
provider since 2002, provides hospital professional liability insurance, comprehensive general liability insurance, excess/umbrella liability insurance and employee benefits services to QHR hospital clients.
