Our Benchmarking Differential

What differentiates BerkleyMed in the marketplace is our benchmarking capabilities.  Our benchmarking analyses enable our clients to have more information at their fingertips, thereby leading to better decision-making capabilities.  They can clearly measure their performance against similar peers within the industry.  Moreover, our benchmarking tools highlight strengths within their existing program as well as opportunities for improvements.  Directing resources to achieve maximum impact is particularly important when resources are limited and performance standards are high.

Let’s look more specifically at how our method of benchmarking can help you make more informed decisions and take control of your professional liability program.

First, our database of information is far more expansive and sophisticated than any other source of information within the industry.  The database that supports our benchmarking analyses and reports is the culmination of many years of data collection and development.  We invested substantial time and resources to collect and analyze over 400,000 hospital professional liability claims.  As a BerkleyMed client, you have the keys to unlock the power of this database for the benefit of your program.  Recommendations can be made with precision and program improvements, in many cases, can be achieved quickly.

Second, BerkleyMed is focused exclusively on the healthcare industry and the provision of professional liability excess coverage and services.  We know our hospital clients are faced with many difficult risk financing decisions.  Many organizations have been forced to assume new and more dramatic levels of risk.  In addition, both hospitals and insurers face the real possibility of a catastrophic professional liability loss.  A mistake in judgment cannot be tolerated.  Benchmarking is designed to strengthen the decision making power and direct resources where they are most needed, to minimize your exposure and costs.