BETA Healthcare Group (BETA) is an insurance-related organization which has provided risk financing programs and risk management services to the healthcare industry in California since 1979. BETA has been rated "A- (Excellent)" since 1997 by A.M. Best, the leading insurance industry rating company, which stated on June 20, 2011:

The rating reflects BETA Healthcare Group's excellent risk-adjusted capitalization, favorable operating profitability and conservative loss reserve philosophy. The rating also recognizes its highly specialized market focus as a leading provider of non-assessable group risk-sharing coverage for healthcare professional liability…and very high member retention from its high-quality claims and risk management and member dividends.

Although one of BETA's related organizations is a joint powers authority, it is very different from other public entities, such as cities, counties and even other JPAs. As a special purpose district, BETA Risk Management Authority (BETARMA) provides liability coverage to over 100 non-profit, district, city and county healthcare facilities and over 3,700 private physicians working at these facilities. In addition, another BETA-related organization, Health Providers Insurance Reciprocal, a Risk Retention Group (HealthPro), domiciled in Hawaii but operating exclusively in California, covers over 50 medical groups, almost 1,300 physicians and three for-profit hospitals. BETA covers a combination of hospitals and physicians that is greater than any insurance company in California.

To obtain and retain these healthcare providers as insureds, BETA must compete against for-profit commercial insurance companies and specialty for-profit medical liability insurance companies based on the price of its products, breadth of services and quality of its staff. BETA's expense structure has always been below the average for medical liability insurance companies which helps it maintain a near 100% member retention rate year after year. BETA's financial success is apparent in its impressive growth over the past decade:

	2011	2001	% Change

Assets	$495.5 M	$215.4 M	+130%
Premiums	78.9 M	33.8 M	+133%
Investment Income	19.0 M	11.7 M	+62%
Fund Balance	202.9 M	31.5 M	+544%
Operating Expenses	10.3 M	4.7 M	+119%

To properly understand and appreciate BETA's unique organization, it is important to know that BETA is 100% self-supporting based on its very successful underwriting and investment programs and that it does not receive and has never received any local, county, state or federal tax revenue, unlike most governmental agencies. In addition to not receiving any taxpayer money, BETA has never issued general obligation bonds or any other type of government-preferred debt.

BETARMA has always been successful, producing positive operating results, while returning excess funds in the form of dividends to its members. Its governing board, the BETA Council, which consists of senior executives and board members from non-profit, district and county hospitals and healthcare systems, has declared or set aside over $120 million for dividends in the past 20 years, with almost $35 million declared in the past 24 months. By providing members with attractively priced liability coverage, cutting edge risk management services, and substantial dividends, BETA is there to support its members financially, enhance patient safety and improve outcomes.

High quality governance has always been an important component of BETA. BETARMA and HealthPro’s attorney-in-fact, BETAlliance Insurance Services (BAIS), each have member-elected governing bodies. BETA Council and BAIS board members receive $500 per meeting as well as having their travel, food and lodging expenses covered and/or reimbursed. No BETARMA employees receive any compensation or expense reimbursement from HealthPro or BAIS. While BETARMA meetings are open public meetings, HealthPro and BAIS meetings are closed to the public as HealthPro operates as a for-profit insurance company and BAIS is a California non-profit mutual benefit corporation.

Although neither BETARMA nor HealthPro/BAIS provide or reimburse for spouse travel, meals or other costs, BETA's consultants, investment managers, and law firms occasionally make voluntary donations to offset spouse meal and meeting activity costs for which the sponsors are recognized at the meetings. All costs covered by such donations are properly accounted for and allocated to the appropriate individuals as "gifts" in compliance with the California Political Reform Act and Fair Political Practices Commission requirements.

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