edRISK is a sponsored captive domiciled in Vermont, representing three distinct captive insurance programs for educational institutions. Together, we control the escalating costs of insurance, share resources, and experience greater value through collaboration. edRISK is a member-owned and governed organization and includes:
edRISK returns 100% of profits to member-owner schools.
The three distinct edRISK programs support educational institutions by helping to control long-term costs and having better overall experiences with these types of insurance:
edRISK provides colleges, universities, and secondary schools with alternative solutions to the status quo.
Proven employee healthcare solution with more than ten years of controlling costs through medical stop-loss coverage, collaboration, and purchasing power, all of which drive better faculty and staff benefits and lower costs compared to the commercial marketplace.
Long-term savings on educators’ legal liability and general liability coverage that result from decreased premiums, net income retained in the captive, and low operating costs with no overall change in coverage as the captive’s reimbursement agreement follows the primary carrier’s policy form.
Long-term savings on property coverage that result from decreased premiums, net income retained in the captive, and low operating costs with no overall change in coverage as the captive’s reimbursement agreement follows the primary carrier’s policy form.
Humble Beginnings
edRISK’s origins are similar to edHEALTH’s beginnings in late 2008. Many of the same college and university leaders behind the evolution of edHEALTH joined forces again to realize the benefits a captive could have on educational institutions using their pooled purchasing power for other insurance needs for their campuses.
The Boston Consortium
edRISK is the result of a multi-year focus by The Boston Consortium, specifically its Risk Management Group, which provides enterprise risk management and insurance resources to its consortium of New England-based colleges and universities, and resources from a Davis Foundation grant, as well as financial and leadership contributions from Boston Consortium
August 2013 - March 2023
edHEALTH experiences significant growth and success from six New England-based colleges and universities to 25 schools, including secondary schools and offering national provider networks that enable educational institutions nationwide to become edHEALTH member-owners.
Winter 2022 – Spring 2023
Interested schools, The Boston Consortium Risk Management Group, edHEALTH leadership, and their consultants meet to determine the captive structure and deductible reimbursement policies.
May 1, 2023
edRISK, a sponsored captive domiciled in Vermont was formed, and the edHEALTH group captive is converted to being edRISK’s first cell.
July 2023
The Boston Consortium, with the edHEALTH cell, received a Davis Grant to explore and analyze different lines of liability insurance to fall under the new edRISK-sponsored cell captive. The results of the grant realized that these new lines of insurance could provide significant cost reductions and access to superior coverage, befitting their better-than-industry loss experiences.
June 1, 2024
edLIABILITY and edPROPERTY, edRISK’s second and third cells, go live, and edHEALTH welcomes its 28th school.
© 2024 edRISK. All rights reserved.
