2016 Winners of Captive Risk Achievement Award
Berkley Accident and Health Announces 2016 Winners of Captive Risk Achievement Award
Awards honor outstanding achievement in health risk management among captive members
June 1, 2016 – Hamilton Square, New Jersey – Berkley Accident and Health, a W. R. Berkley Company®, is proud to announce the winners of the 2016 Risk Achievement of the Year (RAY) Award. The RAY Award recognizes Captive insurance members who exemplify best practices in their health risk management and outstanding commitment to their employees’ health and well-being.
Winners of the RAY Award are employers who self-fund their employee health benefits. Instead of purchasing traditional health insurance, the employers self-fund, purchase Stop Loss insurance, and join together to share risk through a Captive arrangement. Because of this, there is a strong incentive to maintain a healthy workforce and encourage employee wellness.
Winners were presented with a Risk Achievement of the Year trophy at the 6th annual Berkley Captive Symposium held April 10-13, 2016 in Grand Cayman.
The award honors Berkley Accident and Health’s Group Captive insurance members who demonstrate excellence in health risk management and have adopted innovative programs that help to lower health risk factors. Above all, winning companies display an outstanding commitment and care toward their employees. The 2016 winners were:
- ConServe – This recipient shows how an impressive focus on employee health and well‑being can help deliver a dramatic drop in medical costs over the past 3 years. An Inc. 5000 fastest-growing company, ConServe offers a wide range of health risk assessment, preventive screenings, and education, as well as regular nutritional promotion and challenges, wellness fairs, and flu clinics.
- Pawtucket Credit Union – Pawtucket Credit Union stands out because of the innovative culture of health and wellness it developed among employees for the past ten years, long before it was mainstream. This winner has been recognized as a “Fit and Friendly Company” by the American Heart Association, won the Rhode Island Worksite Health Award, and been honored by the Governor of Rhode Island for its dedication to the health of its employees.
The 2016 honorable mentions were:
- Graphic Controls – An honorable mention went to this nominee, which has seen an extraordinary 9% drop in its medical and dental costs over the past three years, due partly to the comprehensive way it helps its employees and their families to identify health risks and opportunities for lifestyle improvement.
- Saval Foods – An honorable mention also went to Saval Foods, which delivers significant results through its long history of employee health and wellness initiatives. Programs are available to all employees and their spouses, whether or not they are enrolled in the health plan. Senior leadership demonstrate their commitment to employee wellness by actively participating in the programs themselves.
Berkley Accident and Health has one of the largest and most diverse blocks of Stop Loss Group Captive business. Through its EmCap® program, Berkley Accident and Health offers employers with self-funded employee benefit plans greater stability, control, and transparency, as well as the opportunity to benefit from excellent risk management.
About Berkley Accident and Health
Berkley Accident and Health is a member company of W. R. Berkley Corporation, a Fortune 500 company. Berkley Accident and Health provides an innovative portfolio of accident and health insurance products. It offers four categories of products: Employer Stop Loss, Group Captive, Managed Care (including HMO Reinsurance and Provider Excess), and Specialty Accident. The company underwrites Stop Loss coverage through Berkley Life and Health Insurance Company, rated A+ (Superior) by A.M. Best.
Berkley Accident and Health
2445 Kuser Road, Suite 201
Hamilton Square, NJ 08690