BCx is a reciprocal insurance company formed by independent blood centers in order to ensure long-term cost benefits and stability of coverage. BCx is domiciled in Indiana and issues professional/general/cyber liability policies in other states under the authority of the Federal Risk Retention Act of 1986.
BCx began writing insurance on August 1, 1993. To date our net paid claims (in excess of member's deductibles) are less than 27% of our net earned premiums. Our goal is to build our surplus so that our profits will ultimately be returned to our members.
BCx readily provides limits of liability up to $5,000,000 each occurrence/$15,000,000 aggregate with deductibles ranging from $25,000 to $100,000. Higher limits and deductibles are possible.
Yes, BCx requires a one-time capitalization fee. The formula for the fee is 50 cents per annual donation, plus 50 percent of your first years premium. This capital investment can be paid in three annual payments.
While the day-to-day operations are the responsibility of insurance professionals, the operations are directed by the Board of Directors, which is made up of blood center executives and insurance consultants. Standing Committees are chaired by BCx Board Members and assist in planning the future of BCx.
BCx has contracted with Western Litigation to administer our claims. We also contract with MCM CPAs and Advisors and Alliant Insurance for program management services, such as underwriting, management and marketing, as well as financial consulting and reporting services. Contact information can be found in "About BCx" under the "Who's Who" option.