Bishops' Plan Insurance Company
BPIC Historic Timeline
2002
Creation of Formation Committee to explore taking the proven Bishop's Plan to an ownership model as a group reinsurance captive.
2003
Meeting with the regulators in Vermont to discuss the business plan for a new group captive, Bishops' Plan Insurance Company.
May 1, 2003
BPIC is formed as a nonprofit with it initial board of directors
2004
BPIC hosts its first Annual Members' Meeting in Chicago, inviting the initial 12 member dioceses to participate in this collective pooling
2007
Bishop Paprocki accepts BPIC’s invitation as the first Episcopal Moderator for BPIC
2008
A successful start and growing membership leads to exploring expansion by increasing the lineslip participation by BPIC – this paves the way for several percentage increases over the next ten years as BPIC mobilizes its accumulated surplus
2013
BPIC celebrates 10 years of remarkable success with a members’ dinner in downtown Chicago and publication of a 30 page report “A Call to Legacy – BPIC’s First Ten Years” is produced.
2023
BPIC celebrates 20 years of collaborative efforts among the 32 dioceses and archdioceses as owners.
2024
The Bishops' Plan TRUST incepts in Vermont January 1st as a complement to the BPIC Captive.
What is BPIC?
A Vermont captive of Catholic Dioceses and Archdioceses, currently owned by 31 dioceses / archdioceses in the US
BPIC Governance
Led by a Board of Directors, an Episcopal Moderator and Operating Committees at the BPIC Captive Level
BPIC as a Portfolio (All-Lines) Risk Financing Strategy
A proven, customized to each member's risk appetite, methodology for pooling lines of coverage for all members.
BPIC Member Portal
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Is BPIC right for your diocese?
Given the nature of BPIC and its application in a customized way to each potential member’s risk financing | P&C insurance program, you and your broker are encouraged to begin a consultative and interactive dialogue with us now. It can be right for every diocese and archdiocese in America, as it is highly tailored to fit the risk appetite and claims experience of- each potential member.We may be able to accommodate some aspects of your current program carriers and bring another church company (BPIC) to diversify your overall risk financing structure. If your answer to any of these questions below is ‘yes’, then we encourage you to reach out to us (program team listed below) or the board members:
- Would you like to reduce the 'total cost of risk' (TCOR) long term for your arch/diocese?
- Would you like to have control of incidents so that a pastoral response and your expertise supersede insurance carrier control on potential claims’ outcomes?
- Do you want to retain risk in a conservative, evolutionary way (increased self-insurance retentions over time) to reclaim dollars for ministry over the long term?
- Do you want to participate as an owner in a group “church program” that is national in spread of risk, diversified in the offerings of benefits, and customized to each member's risk appetite?
Interested in learning more about BPIC?
Email of Operating Program Team: info@bpicmembers.org
Toll Free US Phone: 1.877.325.BPIC (2742)
Vermont Domicile Address: 30 Main Street, Suite 330 | Burlington, VT 05401