Diamond Risk Insurance LLC, a wholly-owned subsidiary of Baptist Health, has been approved as a captive insurer by the Arkansas Insurance Department.
Arkansas Insurance Commissioner Allen Kerr said Baptist Health is the first entity in Arkansas to create its own captive insurance company.
Diamond Risk Insurance LLC will transact business under the Arkansas Insurance Code regulating captive insurers. It will be regulated by the Arkansas Insurance Department, unlike companies that choose to be regulated by the federal Department of Labor by offering coverage to employees under the Employee Retirement Income Security Act (ERISA) of 1974, the department said.
Was this article valuable?
Here are more articles you may enjoy.
Florida Woman Drives Elevated Pickup Over Lamborghini Sports Car in Parking Lot 
Viewpoint: Decades-Old Approach to Workers Comp Claims Must Change 
Lemonade Logs Q1 Net Loss With Topline Growth 
Allstate Q1 Net Income Skyrockets on Underwriting Gains From This Issue
