Today, January 3, 2017, representatives of BETA Risk Management Authority, the ALPHA Fund and the Association of California Healthcare Districts executed the remaining merger documents that combine ALPHA and BETA. Going forward, the combined operations will be called BETA Risk Management Authority (“BETArma”) which will provide workers’ compensation, healthcare professional liability, medical professional liability, directors and officers’ liability and auto liability and physical damage coverages to healthcare providers. Working out of four offices (Alamo, Glendale, Granite Bay and San Diego) with over 110 employees, BETArma will continue to focus on its members’ risk management needs, providing competitively priced coverages, high quality patient and employee safety programs and prompt and thorough claims management.
With an A.M. Best “A” rating, BETArma provides its members with stable and strong risk financing options on a guaranteed cost basis as well as offering deductible and self-insured retention (SIR) options. Combined assets of over $600 million with premiums over $120 million and a net position of more than $230 million provide members with financial strength that makes BETArma the largest writer of workers’ compensation and liability coverages for California hospitals and healthcare facilities.
As part of the merger, four former ALPHA Council members have joined the BETA Council: Myron Machula (CFO of Enloe Medical Center), Scott Chapple (COO of Oroville Hospital), Dave Morony (CFO of Casa Colina Centers for Rehabilitation) and Sharon Spurgeon (CEO of Coalinga Regional Medical Center). All four will be members of BETArma’s new Workers’ Compensation Committee, of which Mr. Machula will serve as chair. He will also join BETArma’s Executive Committee.
I am also pleased to announce that BETArma has hired Dave McGhee as its new Vice President of Workers’ Compensation.
For more information on BETArma and workers’ compensation coverage through BETA’s ALPHA program, please click on the following links: