About BCx

What is BCx?

BCx is a reciprocal insurance company, formed and owned by independent community blood centers.

BCx was formed to provide blood centers long-term market stability with cost savings shared by its owners/insureds.

Insured members share in the risks and rewards. BCx has consistently returned value to its owners/insureds since its inception.

BCx is domiciled and licensed in Indiana as a reciprocal insurance company, subject to the full regulatory authority of the Indiana Department of Insurance.

BCx operates in other states as a risk retention group under the authority of the Federal Liability Risk Retention Act of 1986.

Who is eligible to join?

All applicants must:

  • Be not-for-profit 501(c)(3) or equivalent corporations
  • Be licensed by the Food and Drug Administration
  • Have an independent Board of Directors
  • Successfully pass review of the BCx Underwriting Committee.

The history of BCx

The concept of a blood center owned and operated insurance captive was first discussed in 1986. The genesis for discussion came from community blood centers’ difficulty in obtaining professional and general liability insurance in the aftermath of the AIDS crisis.

In 1990, a task force was developed between American Association of Blood Banks (AABB) and America’s Blood Centers (ABC) to begin the work to form a “captive” insurance facility. As work progressed, the newly conceived captive took form as legal documents were developed and approved. In October of 1992, BCx was incorporated in Indiana. An application was filed with the Indiana Department of Insurance in April of 1993 with licensure granted in July of that year. The first policy was issued effective August 1, 1993.

Since inception, BCx has grown from 21 to 32 blood center owner/insureds and our policyholders’ surplus (net worth) has increased from $1,000,000 to over $15 million.