Bimini Insurance
Bimini Insurance is the preeminent insurance broker for the marine and hospitality industry in Florida
Physician-Owned Reciprocals
A Physician-Owned Reciprocal is also known as a Reciprocal Exchange
A Reciprocal Exchange is an unincorporated association of Physician subscribers which is self-capitalized using premium/surplus ratios. Managed by an Attorney-In-Fact (AIF), there are no employees in the exchange.
Strengths
- Admitted Insurer
- State Guaranty Fund Protection
- Favorable Policy Forms
- Not Assessable
- Defense Costs in Addition To Limits
- Qualitative Underwriting
- No Liabilities
- Reinsurance
Weaknesses
- Capital Contribution
- Capitalization
- AIF Cost
Why Reciprocals Should Succeed
- Stability of Rates
- The Current Claims Environment
- Selectivity
- The Selection Process
- Solid Rates
- No Liabilities
Email Contact
Please feel free to send us an email at Chris@PhyAdv.com.