Specialty Insurance Services, LLC (SIS) was founded in 2001 to serve as the back office management (Attorney-In-Fact) for Positive Mutual Risk Retention Group (PMRRG), a South Carolina domiciled Risk Retention Group insuring Pennsylvania physicians for their malpractice coverage.

In July of 2004, PMRRG transitioned to a Pennsylvania domiciled Reciprocal Insurance Exchange; Positive Physicians Insurance Exchange (PPIX) and SIS remains as back office support for the Pennsylvania medical malpractice insurer who currently insures 400 multi-specialty physicians.

SIS is directly responsible for underwriting, billing and policy issuance and remotely works with third party administrators such as claim and risk management services, actuaries, reinsurers, regulatory compliance, accountants, and independent auditors.

In order to comply with the new Center for Medicare and Medicaid Services (CMS) reporting requirements as outlined in Medicare, Medicaid, and SCHIP Extension Act of 2007 Section 111, SIS has developed our own software; Compliance™ Medicare Reporting Systems.

In early 2009 CMS released information that effective March 2010 all insurers (including self insured entities) must report liability, workers compensation, and no fault claim settlements, awards, and judgments that involved a Medicare beneficiary to CMS. There are in excess of 150 fields of data that need to be transmitted to CMS.

CMS has indicated that there will be a $1,000 per day/per claim fee that will be charged to a Responsible Reporting Entity (RRE) for incorrect or late reports. Reporting is done on a quarterly basis at a time specified to each RRE by CMS.

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One of the best things to have happened to people in today’s age is the coming up of insurance service. Without any doubt, it can be termed as the best service of modern times. Especially life insurance, for it helps one’s family after the person has faced untimely death. Life insurance is particularly helpful to families where there is only one bread winner. It guarantees that even after the demise of the only earning member of the family, the family does not feel any financial crunch.

Imagine, otherwise, the plight of such a family whose only earning member has faced sudden demise. Needless to say that the financial condition of such a family would take a beating. Thanks to life insurance, such families can take a sigh of relief that at least on financial front they would not have to worry. The relevance of such a service like life insurance can be most realized in today’s times. Simply because the rate of accidents have risen immensely, especially in the UK in the past decade. This has lead to more and more casualties, which make life insurance more and more relevant. However, to gain maximum from life insurance, one would do well to understand that certain precautions are necessary while opting for it. For example, one must ensure that the policy comes to life as soon as it is signed. One would also do well to find out what the formalities are that the family members will have to go through before they get the amount. One would also do well not to default on monthly premium as well as not to provide any wrong information to the insurance company, for acts like these can lead to the disqualification of the policy.