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Mission & Vision
The mission of the TriState Medical Insurance Company Risk Retention
Group (TriMed) is to operate in a financially sound manner for the
benefit of its physician-policyholders to assure the on-going availability
of a stable, long-term source of professional liability insurance
for tristate area physicians.
Company Structure
Ownership
As a reciprocal insurance exchange licensed under the federal Risk
Retention Act, ownership of the company rests solely with its policyholders
who are individual physicians.
Board of Governors
The Board of Governors of TriMed is made up of a majority of physicians
to assure that control and focus is driven by physician interests.
The board's role is to oversee the affairs of the company, set strategy
and general operating policy and to monitor the financial status
of the enterprise. To prepare the board members to fulfill their
duties, an intensive orientation program has been developed for
their education on insurance company and governance matters.
Attorney-in-Fact
The day-to-day operations of TriMed are in the capable and experienced hands of its attorney-in-fact (AIF), TriState Insurance Managers LLC. Since TriMed has no employees, TriState Insurance Managers as its AIF performs all operating functions of the company. The senior staff of the AIF has over 100 years of insurance experience between them and has an unblemished track record of developing fourteen (14) other doctor-owned professional liability insurance companies over the past 30 years. The AIF reports to the Board of Governors for the performance of its duties and obligations that are memorialized in detail in a long-term management agreement between the parties.
Business Partners
TriMed has retained a blue chip core of business partners and advisors,
most of whom are steeped in medical professional liability insurance
experience. Among the advisory group are:
- Ballantyne, McKean & Sullivan
Reinsurance Intermediaries, London, England
- Bickerstaff, Whatley, Ryan & Burkhalter
Independent Actuary, Indian Wells, CA
- Blue Granite Capital
Investment Manager & Advisor, Charleston, SC
- Albright, Persing & Associates, Ltd.
Independent Auditors, Reno, NV
- Jones Vargas
NV Legal Counsel, Las Vegas, N
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