What is BPIC?
From the President, Pat Kelly (CFO, Diocese of Youngstown)
We appreciate your interest in BPIC and believe every diocesan CFO will value the paradigm shift to risk financing that BPIC offers as a long term solution for most lines of coverage (Property, Liability, Professional, Auto, WC, Crime).
This 'portfolio' approach is unique in the marketplace (and proven successful) and financially backed by Lloyd's of London as the issuing insurance policy. As an owner, member dioceses not only benefit from a broad manuscripted base form but also from affiliation with other members, vital exposure data and growing equity over time. Paying 'premium' to BPIC is not totally lost as the captive retains 40% of the premium.
As a church-owned, nonprofit company we value member engagement, the spread of risk this group offering brings us and the ability to reclaim dollars for ministry (reduce the total cost of risk). Let us do a free assessment for your diocese/archdiocese to determine if BPIC can bring the long term value it has brought to our diocese as well as many others over these past 19 years.
A Picture Paints A Thousand Words!
This graph depicts BPIC's historical success over 18 years, maintaining stable premiums (the middle line) while the impressive loss experience of the group (pool of dioceses) - note decrease in the rate (bottom line) - has allowed premiums to remain stable (middle line), despite increased exposures(new members, increased values, growth) - top line of graph.