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ANNUAL REPORT 2015 Message From the President CEO As we closed the books on another successful year here at the Texas Hospital Insurance Exchange we are thankful for your continued support and more importantly your commitment to providing quality patient care to Texans. For more than 40 years THIE has had the privilege of partnering with hospitals across the state to help them lower costs limit claims and create a safer workplace. THIE specializes in health care period. By focusing on a single industry we are able to gain valuable insight into the needs and challenges that our subscribers face on a daily basis. In 2015 THIE witnessed excellent loss development results allowing us to decrease reserves and recognize profit of 8.2 million all of which was allocated to our subscribers. THIE continued its partnerships with Gen Re which maintains the top financial strength rating of A (Superior) with A.M. Best Co. and Safety National Casualty Corporation which has a rating of A (Superior). THIE itself continues to maintain a B (Stable) rating. It is this financial strength that allows us to reward our subscribers through surplus refunds and lowered rates. I d like to thank you for your continued trust in THIE. You can rest easy knowing we will continue to provide you with the strength stability and service you have counted on the past 40 years. Tess Frazier President CEO TURN TO THIE FOR STRENGTH THIE s financial strength is never in question. THIE employs a conservative reinsurance strategy using two of the world s strongest reinsurers to mitigate the effect of losses on its balance sheet. Unlike most insurance companies THIE is owned by its subscribers who have a vested interest in its success. In 2015 THIE continued its popular subscriber surplus refund program refunding nearly 640 000 to subscribers. In the last five years THIE 20 000 000 18 000 000 16 000 000 14 000 000 12 000 000 10 000 000 8 000 000 6 000 000 4 000 000 2 000 000 has returned more than 3 million in surplus distributions to subscribers. You can count on THIE s financial strength and our commitment to helping you lower costs. Additionally THIE lowered its workers compensation rates by 10 percent and its general liability rates by 5 percent in 2015. When we have a good year subscribers are rewarded in this case with lowered rates. We continually monitor our rates and services to ensure we are providing the best value to subscribers. 20 000 11 477 9 164 7 488 3 648 4 369 5 288 9 917 9 708 10 605 11 792 10 736 11 880 12 500 2 343 2000 3 474 ( 000s omitted) SURPLUS 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2001 2002 2003 2004 2005 TURN TO THIE FOR STABILITY THIE has been establishing trust and serving hospitals and health care providers across the state for more than 40 years. As a reciprocal exchange THIE is owned by its subscribers. This shared interest in the company s success ensures a mutual commitment to lowering costs limiting claims and maintaining a safe workplace. Subscribers share profits and losses in the same proportion as the amount of insurance they purchase. Because of THIE s stability we are able to offer dependable and affordable coverage for Texas health care facilities. In 2015 we enhanced our medical professional liability policy with a 100 000 limit of cyber liability. Most competitors charge extra for cyber liability coverage THIE does not. At THIE we never take subscriber loyalty for granted which in large part is why we maintained 97 percent retention ratio for the year. We are proud to focus on insurance so you can focus on care. TURN TO THIE FOR SERVICE There s a reason THIE provides coverage for 86 percent of the nonsystem small rural hospitals in Texas We are more than an insurance company. We are a partner. When a crisis arises we offer protection and guidance. We know you can t do it alone. In 2015 THIE performed complimentary in-service programs covering workers compensation and documentation for facilities across the state. Additionally more than 130 people attended THIE s 2015 Hot Topics Workshops an increase of 67 percent from 2014. These workshops which are held twice a year and offered at no cost to subscribers feature top-rated speakers and timely relevant educational sessions. THIE also offers complimentary risk management services including regular on-site assessments and phone consultations whenever the need arises. All recommendations are based on leading-edge research and data analysis used to track trends and apply best practices. COMPLEMENTARY CUSTOMIZED PROGRAMS LIBRARY ONLINE SAMPLE POLICIES We have partnered with THIE for close to 40 years. As an owner of THIE we find great value in the profits that are returned to the hospital year-after-year. HARRIS W. BROOKS CEO PALO PINTO GENERAL HOSPITAL MINERAL WELLS TURN TO THE COMPANY THAT KNOWS YOUR INDUSTRY BEST. THIE knows Texas health care. By specializing in one industry we are able to deliver the best service possible and we continually seek feedback from clients on how we can improve. The majority of THIE subscribers have been with us for many years and THIE is proud to have kept our promise to help subscribers lower costs limit claims and create a safer workplace. The number of total THIE subscribers has remained steady despite mergers acquisitions and hospital closures. We insure almost 200 health care entities across the state including 108 hospitals. We are proud to focus on your insurance needs so you can focus on health care. THIE subscribers include HOSPITALS AMBULANCE EMS SERVICES HOME HEALTH CARE AGENCIES HOSPICE AGENCIES HEALTH CLINICS MANY MORE. When you talk to the staff at THIE you can tell they are committed to providing exceptional customer service. It s been a pleasure to work with them and I would highly recommend THIE to other hospitals. DIANNE YEAGER CEO CRANE MEMORIAL HOSPITAL THIE 2015-16 BOARD OF DIRECTORS CHAIR SANDRA G. WRIGHT Ed.D. RN TYLER COUNTY HOSPITAL WOODVILLE DIRECTOR DONNA BOATRIGHT RN ROLLING PLAINS MEMORIAL HOSPITAL SWEETWATER DIRECTOR JIM HORTON RANKIN COUNTY HOSPITAL DISTRICT RANKIN DIRECTOR ADAM WILLMANN GOODALL-WITCHER HOSPITAL AUTHORITY CLIFTON VICE CHAIR JAMES VANEK COLUMBUS COMMUNITY HOSPITAL COLUMBUS DIRECTOR HARRIS BROOKS PALO PINTO GENERAL HOSPITAL MINERAL WELLS DIRECTOR PAUL MCKINNEY MARTIN COUNTY HOSPITAL DISTRICT STANTON DIRECTOR RANDALL YOUNG PARKER COUNTY HOSPITAL DISTRICT WEATHERFORD SECRETARY TED SHAW TEXAS HOSPITAL ASSOCIATION AUSTIN DIRECTOR ROBBIE DEWBERRY MITCHELL COUNTY HOSPITAL COLORADO CITY DIRECTOR STEVE SUMMERS FACHE ADMINISTRATOR CEO WISE HEALTH SYSTEM DECATUR DIRECTOR EMERITUS W. EVAN MOORE COMANCHE DIRECTOR JONATHAN BAILEY HANSFORD COUNTY HOSPITAL DISTRICT SPEARMAN DIRECTOR MIKE EASLEY PREFERRED MANAGEMENT SHAWNEE OKLAHOMA DIRECTOR RUSSELL TIPPIN ANDREWS COUNTY HOSPITAL DISTRICT ANDREWS DIRECTOR EMERITUS KENNETH W. POTEETE GEORGETOWN SEE YOU IN 2016 APRIL 26-28 DALLAS Texas Organization of Rural & Community Hospitals Annual Conference and Tradeshow JULY 28-JULY 30 SAN ANTONIO Healthcare Governance Conference OCT. 12-13 FREDERICKSBURG THIE Hot Topics Workshop NOV. 2-3 CORPUS CHRISTI THIE Hot Topics Workshop 8310 N. Capital of Texas Hwy. Building 1 Suite 250 Austin TX 78731 512 451-5775 www.thie.com