Organizations Filed Purposes:
THE COMPANY IS A NON-PROFIT SPONSORED CAPTIVE INSURANCE COMPANY ORGANIZED AND OPERATED EXCLUSIVELY FOR THE CHARITABLE PURPOSES FOR THE BENEFIT OF ITS MEMBER ORGANIZATIONS. THE CORPORATION SERVES AS AN INTEGRAL PART OF AND FURTHERS THE EXEMPT PURPOSES OF its members, charitable HOSPITALS and RELATED healthcare organizations BY PROVIDING "SELF-INSURANCE" PROFESSIONAL LIABILITY COVERAGE FOR CERTAIN HOSPITALS AND HEALTHCARE ENTITIES DESCRIBED IN IRC SECTION 501(C)(3). THE MEMBERS ARE MAIN LINE HOSPITALS, INC., Riddle Memorial Hospital, THOMAS JEFFERSON UNIVERSITY HOSPITALS, INC., AND Magee REHABILITATION HOSPITAL.
FIVE POINTE PROFESSIONAL LIABILITY INSURANCE COMPANY PROVIDES REINSURANCE TO MOUNTAIN LAUREL RISK RETENTION GROUP, INC. ("MLRRG"), A RELATED PARTY THROUGH COMMON OWNERSHIP THAT PROVIDES GENERAL LIABILITY AND PROFESSIONAL LIABILITY INSURANCE TO ITS SHAREHOLDERS THAT ARE THE TAX EXEMPT MEMBERS OF FIVE POINTE. THE REINSURANCE COVERAGES ASSIST WITH THE MANAGEMENT AND FUNDING OF THE PROFESSIONAL LIABILITY RISK THEREBY ESSENTIALLY FUNCTIONING AS A SELF-INSURANCE VEHICLE FOR THE TAX EXEMPT MEMBER HOSPITALS AND HEALTHCARE ORGANIZATIONS. A SPONSORED CAPTIVE INSURANCE COMPANY IN THE STATE OF DELAWARE HAS THE ABILITY TO ESTABLISH AND MAINTAIN SEPARATE PROTECTED CELLS WITHIN THE COMPANY WHEREBY THE ASSETS AND LIABILITIES OF ANY ONE CELL ARE FINANCIALLY AND LEGALLY PROTECTED FROM THE ASSETS AND LIABILITIES OF OTHER CELLS. THE COMPANY INSURES THE RISKS OF THE MEMBERS PURSUANT TO MEMBERSHIP AGREEMENTS, AND SEGREGATES SUCH RISKS INTO PROTECTED CELLS. EACH PROTECTED CELL IS ACCOUNTED FOR SEPARATELY ON THE BOOKS AND RECORDS OF THE COMPANY. THE ASSETS AND LIABILITIES OF THE COMPANY ARE SEGREGATED INTO CELL ASSETS AND LIABILITIES AND GENERAL ASSETS AND LIABILITIES. THE GENERAL ASSETS AND LIABILITIES OF THE COMPANY COMPRISE THE ASSETS AND LIABILITIES THAT ARE NOT ASSETS AND LIABILITIES OF ANY ONE OF THE PROTECTED CELLS. THE ACTIVITIES REPRESENTING THE GENERAL ASSETS AND LIABILITIES OF THE COMPANY ARE REFERRED TO AS "THE CORE."
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| John C Ekarius | FORMER CHAIRMAN | 0 | $0 |
| Marcy Waterfall | ASSISTANT SECRETARY | 1 | $0 |
| Alfred C Salvato | CHIEF INVESTMENT OFFICER | 1 | $0 |
| Peter L Deangelis Jr | DIRECTOR | 1 | $0 |
| Kirk E Gorman | DIRECTOR | 1 | $0 |
| Jonathan L Gleason | DIRECTOR | 1 | $0 |
| John J Lynch Iii | DIRECTOR | 1 | $0 |
| Jack A Carroll Phd Mha | DIRECTOR (THROUGH 12/15/2019) | 1 | $0 |
| Edmund D Pribitkin | DIRECTOR | 1 | $0 |
| Neil G Lubarsky | DIRECTOR, TREASURER | 1 | $0 |
| Michael J Buongiorno | DIRECTOR, CHAIRMAN | 1 | $0 |
| Dianne P Salter | DIRECTOR, PRESIDENT | 10 | $0 |
| Brian T Corbett | DIRECTOR, SECRETARY | 1 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202141339349305039_public.xml