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Case Studies

Risk Sharing


Association Captive


Homogenous Industry Association


The Association program had been in existence for more than ten years. The broker that managed it on behalf of the Association had developed and maintained exceptional loss and exposure data for the group. The program had a consistent track record of favorable results from an underwriting perspective. The Association decided to form a Captive so that they could participate in the risk and the rewards of their insurance program. They possessed an appetite for risk but did not want to assume one hundred percent exposure. As a result of this risk profile, they required a risk-sharing partner.


Athens Administrators has been involved in Alternative Risk Transfer (ART) Insurance for many years. We understand, and are comfortable with risk-sharing. When the opportunity to handle the claims and participate in risk-sharing with the Association was brought to us, we were enthusiastic. The broker provided us with the historical loss and exposure data and we determined that this was a program that we would like to participate in as a risk-sharing partner.

It proved to be a great opportunity for both the Association and Athens Administrators. The Association is extremely happy that they were able to secure a Claim Administrator that was willing to put “skin in the game.” They also enjoyed the fact that they now had a partner whose interests were fully aligned with their own. For Athens, this was a great opportunity for the identical reasons.


Since inception of the risk-sharing arrangement, program loss results have been exceptional. The Association has also enjoyed the peace of mind that has resulted from their claim administrator also being a primary risk-taker in the program. Beyond that, the Association members who are the policyholder’s have benefited from high caliber claim handling.

Reduced loss costs have allowed the program to continuously offer competitive pricing. The Association has accomplished its two primary goals with this program:

  • They have developed an exclusive insurance product that is truly beneficial to their members.
  • Favorable underwriting results generate critical revenue for the Association that will allow it to continue to serve it’s industry into the future.