Cassatt Insured Group is excited to celebrate 25 years as a leader in the hospital captive insurance market. That means a quarter century of working with hospitals and their staffs to ensure quality health care for members of our community.
What exactly do we do?
We are a family of companies that provides medical professional and other liability insurance coverage and patient safety and risk management services to Philadelphia-area hospitals.
Our History
Cassatt began in 1991 after a group of independent, non-profit hospitals in Southeastern Pennsylvania decided to join forces to address the need for affordable excess medical professional liability insurance coverage for hospitals, previously unavailable in the commercial marketplace.
We have grown exponentially since that time, offering an attractive alternative to traditional commercial insurance coverage while protecting hospitals from professional liability exposures.
We are committed to working with our member hospitals to promote patient safety, and we take pride in helping our member hospitals to deliver the highest quality healthcare available. Because of this commitment, our member hospitals have reduced the incidence of professional liability claims and the costs associated with them.
Our System
A big reason for our success is the culture of sharing among its members that Cassatt promotes and supports. Hospitals share best practices with each other, which ensures that every Cassatt-insured institution is working constantly to achieve the highest standards in the region. Cassatt member hospitals coordinate patient safety and risk management efforts, focus on claims management and work together in many other ways to improve the quality of healthcare in their facilities.
As a cooperative organization, Cassatt’s members are also its owners. CEOs and senior executives from the area hospitals and healthcare organizations sit on Cassatt’s Board. This arrangement is unique to Cassatt and something that is not present in a traditional commercial insurance program.
Growth at Cassatt
Today, Cassatt is made up of 11 member hospitals throughout the Philadelphia area. Indicators of its success include the following:
- Shareholders’ equity increased by 120 percent
- Total value creation (2009-2015): $145 million
- Trial win rate (2008-2015): 84%
- Six-year average annual investment return is 6.7 percent
- Calendar year primary loss ratio: 27.5%
Thank you to all of our members for helping make Cassatt so successful and effective. We look forward to continue protecting our members and fostering a safer patient environment.
