PARSIPPANY, N.J., Aug. 9, 2012 /PRNewswire/ -- York Risk Services Group (York), a premier national provider of claims-management, specialized loss adjusting, insurance pool administration and other insurance services, today announced that Rick Stasi will assume the position of President of York's Alternative Risk Solutions (ARS) Division. In this role, he will be responsible for the administration, marketing and underwriting associated with York's alternative risk programs.
Previously, Stasi had served Chief Operating Officer of Alternative Risk at Avizent, a company York acquired in 2011. Stasi has 35 years of experience in the insurance and alternative risk market.
York ARS services include captive management, program administration for group captives and self-insured groups, as well as claims administration, managed care, loss control and premium audit services that are available on a bundled and unbundled basis. York currently provides services to over 70 alternative risk programs with a broad range of risk financing structures such as self-insured groups, group captives, agency captives and risk retention groups. Additionally, York currently manages over 40 segregated cell captives through its Bermuda-based reinsurance facility, Atlantic Gateway International (SAC) Ltd.
The alternative risk market, and captives in particular, continue to be a popular means of risk financing for business insurance, with an estimated 40 percent of major U.S. corporations and many multinational companies own one or more captives. "In many cases the traditional marketplace fails to respond to the needs of certain groups of businesses. At York ARS we strive to fill that void and offer an alternative to the traditional insurance marketplace and cater to those companies that are looking to control their own destiny by providing intensive risk management services and being rewarded with underwriting profits from lower loss ratios," said Stasi. "One of the key advantages York ARS offers is our expertise in the development of startup programs and the capacity to take risk on the programs along with their clients," he added.
Stasi holds a B.S. degree in both Business Administration and Occupational Safety & Health from Illinois State University, and holds both CPCU and ALCM professional designations. He is also a licensed P&C agent and a member of numerous risk management and alternative risk associations.
About York Risk Services Group
York Risk Services Group is a premier provider of claims-management, specialized loss adjusting and other insurance services nationwide. York provides risk management solutions to a wide variety of strategic partners, including insurance carriers, self insureds, brokers, wholesalers, MGAs, programs, risk pools and public entities. York delivers customized claims solutions for all lines of business, including property, liability, products liability, ocean and inland marine, environmental, transportation and logistics, construction, and workers' compensation and managed care. York is based in Parsippany, N.J., and has more than 2,4000 employees nationwide. Visit us on the Web at www.yorkrsg.com.
For more information, contact:
Anne W. Ellis
Director, Marketing & Communications
York Risk Services Group, Inc.
Tel: (973) 404-1282
E-mail: [email protected]
SOURCE York Risk Services Group