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Texas Hospital Insurance Exchange Health Insurance Company

The Texas Hospital Insurance Exchange Company serves the health insurance needs of Texas hospitals. Founded in 1975, it is located in northwest Austin in the Prominent Point Office Park. With more than 30 years of experience in the field of hospital insurance, it offers competitive products and expertise in all aspects of medical professional liability.

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It is proud of its reputation for satisfied customers, with a 95% contract renewal rate. Its members are part owners in the company and share in the profits, as well as potential losses. The subscribers elect an eleven-member board of directors. The goal of this company is to:

  • Minimize your costs
  • Limit the number of claims against your hospital
  • Help create a safer workplace for your employees
  • Provide a positive experience for your patients

From policies covering medical liabilities to consultations on risk management and in-service education programs, the Texas Hospital Insurance Exchange Company strives to cover all the needs of small rural hospitals.

In 2006, THIE announced they would cut their insurance rates by 16%. It also awards $5,000 grants each to member hospitals that develop projects improving patient safety and/or initiate procedures aimed at reducing patient readmissions occurring within 30 days of their discharge. 91% of their subscribers rate THIE customer services very good to excellent.

The Texas Hospital Insurance Exchange Company Products

Medical Professional Liability

This insurance offers the best coverage available against legal liability that may result from errors or negligence. Experts in risk management will work with you to reduce costs and limit the number of claims, while working toward a safer environment for the patients in your hospital. At the beginning of each contract year, your premiums will be based on your facility’s range of exposures and experiences.

Workers’ Compensation

The THIE exchange has a wide range of policies covering hospital employees for work-related injuries or illnesses. It also gives protection to employees when faced with additional liability. These policies have several options, from guaranteed cost to various deductibles, along with interest-free payment plans and a $1 million liability limit for employers.

Commercial General Liability

When accidents due to acts of negligence or omissions happen, the THIE general liability program will protect your hospital from claims by the general public.

Business Automobile Coverage

These policies protect the hospital from legal liability and physical damages caused by a hospital vehicle. Emergency vehicles can be covered as well as non-owned vehicles.

Property Coverage

This is an insurance policy specifically designed to offer coverage in case of contamination of hospital property, expenses incurred during the evacuation of patients, and many other instances specific to the hospital market.

Executive Liability Coverage

The Texas Hospital Insurance Exchange Company offers insurance protection for your hospital and its leadership against errors or omissions of management. It includes:

  • Cyber liability
  • Crime insurance
  • Employment practices liability
  • Fiduciary liability

This coverage is offered through a partnership with Blais Excess and Surplus Agency of Texas.

Third-Party Administration

To meet the needs of small rural hospitals, THIE can provide them with administration services staffed with knowledgeable insurance experts. This service will help you manage all insurance claims in the most effective manner.

Risk Management Services offered by the Texas Hospital Insurance Exchange Company

In addition to the insurance products mentioned previously, the THIE Company offers a list of services that brings additional value to its subscriber:

  • On-site or by phone consultations to help you identify possible problems and to offer remedial steps that can be taken before a claim occurs
  • Research analysis to examine latest trends in the health industry
  • In-service education programs targeted to your hospital specific needs
  •  Samples of policies, forms, etc.
  •  On-line library and research links available 24-hrs a day
  • Hot Topics Workshops to help you stay current on latest legal cases, laws and risk management issues

Through the Texas Hospital Exchange Company, you can also access the following publications:

  • THIE News
  • Risk Management Report
  • Best practices

The Texas Hospital Insurance Exchange Company Refund Plan

The company initiated this plan in 2011. It is making available a refund plan for its subscribers who have adequate money in their surplus account. It makes them eligible for a check representing 11 % of their 2011 renewal premiums. It is not a discount on premiums but an actual refund check.

The Texas Hospital Insurance Exchange Company Safety Awards

To emphasize its commitment to a safe environment for both employees and patients and to reward its subscribers with excellent records in these areas, the company instituted the following two awards:

  • The Texas Star Award for Patient Safety
  • The Award for Safety Excellence

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