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Reducing liability costs and managing risks and claims
For more than a quarter-century, the Chicago Hospital Risk Pooling Program (CHRPP) has saved member hospitals money on professional liability protection. The program pools member hospitals’ financial resources to protect their assets, reduce their liability and premium costs, and implement effective risk management programs.
Program and Services
- CHRPP, which operates at cost, provides hospitals with coverage of up to $26 million per claim. CHRPP has proven a steady liability coverage partner, stabilizing claims costs and making coverage available in an often volatile insurance market.
- CHRPP members have benefited from annual surpluses resulting from favorable claims experience and prudent investment strategies. Surpluses are distributed back to member organizations as cash dividends and promissory notes, which can be used to offset future premiums. Cash dividends have totaled more than $74 million in the last 15 years.
- In addition to liability protection, CHRPP helps members reduce risk through its Standard Elements of Risk Management Program. The program employs a system of financial bonuses and penalties to encourage compliance with clinical and risk management protocols that have been shown to reduce liability exposure. In recent years the program has targeted prenatal and emergency care services, two areas of emerging hospital risk.
Board directives, project implementation and other operational functions are executed by Metropolitan Chicago Healthcare Council (MCHC) staff.
Contact Kenneth Skertich, vice president and trust administrator, at 312.906.6162 or kskertic@mchc.com
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