RENTON, WASH. – As part of its strategic growth plan, Commencement Bay Risk Management (CBRM) – Cambia Health Solution’s (Cambia) premier stop-loss carrier in Oregon, Utah and Washington – is expanding into Alaska, Arizona, Montana, Nebraska and Wyoming. Self-funded groups can now safeguard their financial well-being against unpredictable and catastrophic healthcare claims while benefiting from sustainable pricing, quick reimbursements, trusted expertise and innovative solutions.
In recent years the stop-loss industry has experienced double-digit growth, according to the National Association of Insurance Commissioners (NAIC) Accident and Health Policy Experience annual reports. That trend does not appear to be waning despite an intensely competitive market. This is largely due to an increased interest in employers seeking the advantages of self-funded health plans and the need for financial protection against the potential for skyrocketing and unpredictable high-cost claims.
“After nearly 35 years of success in the Northwest, the time is right to bring CBRM’s underwriting expertise and innovative stop-loss solutions to a broader market,” said Steve Gaspar, president of CBRM and Cambia’s SVP & chief actuarial officer. “As experienced carriers exit and are replaced by less-seasoned players or captives with rigid plan designs, capital requirements, and limited transparency, employers need a stop-loss partner they can depend on and trust.”
“After engaging our broker partners, we determined expanding into Alaska, Arizona, Montana, Nebraska and Wyoming made good sense,” said Miglena Rogan, general manager of CBRM. “This growth is about more than expanding our footprint – it’s an opportunity to bring our long-term partnership approach and best-in-class financial protection directly to self-funded groups in these states.”
For more information, contact:
Mike Merz, CSFS®
Senior Regional Stop-Loss Sales Executive – AZ, NE, OR, UT
Adam Frey, MBA
Regional Stop-Loss Sales Executive – AK, MT, WA, WY
About Commencement Bay Risk Management
For nearly 35 years, Commencement Bay Risk Management (CBRM) has been providing peace of mind to self-funded employer groups through its premier stop-loss solutions that help safeguard clients against unpredictable and financially catastrophic healthcare claims. Through a long-term partnership approach and focus on offering sustainable pricing, quick reimbursements, trusted expertise and innovative solutions, CBRM delivers exceptional service, partnership and value. Visit CommBayRisk.com to learn more.
About Cambia Health Solutions
Cambia Health Solutions is a nonprofit healthcare and technology company transforming how people experience healthcare. We serve nearly 4 million people through our regional health plans and reach millions more through our technologies, strategic investments and partnerships. People are at the heart of everything we do as we work to make healthcare simpler, more affordable and more personalized. Learn more at CambiaHealth.com.