Cooperative of American Physicians Announces Retirement of William J. West; Daniel Cavanaugh Ascends to Vice President of Membership Development

The Cooperative of American Physicians, Inc. (CAP) announced the promotion of Daniel Cavanaugh to vice president of membership development following the retirement of William J. West (Bill) on February 15. West steps down from his role after more than two decades of successfully helping to foster membership growth, while Cavanaugh succeeds to the position and will continue to facilitate access to top-rated medical professional liability coverage.

“Both Bill and Dan have excelled in this department,” said Sarah Pacini, CAP chief executive. “Not only have they committed to meeting standards of excellence, but they have also influenced their teams to aim towards progress and continue to care for physicians all over California.”

In his most recent role as vice president of membership development, West was a driving force in bringing CAP’s medical professional liability offerings to a wider audience of solo and group practices in the California Market – tripling CAP’s Mutual Protection Trust (MPT) membership participation from 3,879 to 11,746. West also created and implemented a unique marketing strategy to dominate competitors, adding millions in new business for the organization.

Cavanaugh harbored a strong relationship with CAP as a broker before joining the company and eventually becoming assistant vice president of membership development. In this position, he leveraged his expertise to spearhead CAP’s Affinity Group program expansion and partnered with various IPAs, Physician Networks and Physician Purchasing Organizations around the state to introduce their members to CAP’s malpractice coverage.

“It has been an honor to work alongside Bill West. His talent and dedication are a motivation to continue to provide meaningful coverage solutions for medical groups and physicians in a creative manner,” Cavanaugh said. “I look forward to taking on my new role, influencing the direction of our organization and acting as a mentor to my sales team.”

Cavanaugh has established his thought leadership in malpractice coverage and its effect on the modern physician, and has been published and quoted in outlets including Medscape, Journal of Medical Practice Management and Medical Economics. He is also the 2018 president-elect of the California Medical Group Management Association, effective in April 2018, and holds a B.S in Journalism from the University of Kansas.

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ProAssurance Promotes Edward L. Rand to Chief Operating Officer

ProAssurance Corp. announced that it has promoted Edward L. “Ned” Rand, Jr., to chief operating officer. In this newly created position Rand will be responsible for the day-to-day operations of ProAssurance, reporting directly to Stan Starnes, chairman and chief executive officer. Rand has served for 13 years as the chief financial officer for ProAssurance and he will continue in that role for the near future.

“We are excited that Ned will be moving in to this new position, allowing me to focus my time and energy on the company’s strategic priorities and long-term business development,” Starnes said. “I have great confidence in Ned, who has been instrumental to the success of ProAssurance during his 13 year tenure. He is a skilled executive, a trusted adviser and someone who exemplifies the ‘ProAssurance Way.’ Ned and I will work closely together as we continue creating value for our employees, customers and shareholders.”

According to ProAssurance, its line of business leaders will report directly to Rand and through him to Starnes, and each line of business leader will continue to exercise broad responsibilities for the success of their respective line of business.

“As ProAssurance continues to evolve as a healthcare-centric specialty insurer, our management structure must also evolve,” Starnes said, addressing any concerns over his future with the medical liability insurance company. “I am committed to maintaining my current position for the foreseeable future, which is why I signed an extension of my five-year employment contract in June 2017. In my discussions with the Board on this matter, we agreed this was a means of extending, not limiting, my career at ProAssurance.”

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Edward J. Carroll Promoted to Vice President of Underwriting at ISMIE Mutual

ISMIE Mutual Insurance Co. announced the promotion of Edward J. Carroll, JD, to vice president of underwriting. Carroll will oversee business underwriting for ISMIE and its subsidiaries.

Carroll joined ISMIE Mutual in early 2017 when he was appointed as director of underwriting – new segments. He was brought on to lead product development, distribution management, implementation of rating and pricing models, and underwriting for ISMIE’s expansion strategy. During his brief tenure with ISMIE, the subsidiary ISMIE Indemnity acquired business in a dozen new states.

Carroll began his insurance career at Chubb Specialty Insurance in 2000. Prior to joining ISMIE, he was director of underwriting at Connecticut-based CMIC, a medical professional liability insurance company. He is a graduate of Georgetown University.

“ISMIE is fortunate to have Ed on our team. His promotion is an acknowledgement of his significant contributions to ISMIE’s expansion and business development growth,” said Paul H. DeHaan, MD,ISMIE vice chairman. “We also wish Al Allphin well in his retirement. Al has been an important ISMIE team member for more than 30 years and his leadership will be missed.”

“These are exciting times for ISMIE, and Ed’s the right person to assume underwriting leadership,” said Wayne de Nazarie, ISMIE executive vice president. “He’ll play a key role in strengthening our partnerships with brokers and producers to further grow our imprint across the U.S.”

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Healthcare Providers Insurance Exchange (HPIX) Explains Liquidation Plans

The following is a statement — dated Dec. 18, 2017 — from Healthcare Providers Insurance Exchange (HPIX) regarding its liquidation:

“In 2015, we determined it was in the best interests of our subscribers to voluntarily cease operations and begin an orderly run-off of the company’s liabilities. Our plan to settle these liabilities was based on independent actuarial projections of their ultimate costs and was approved by our regulators. Since 2015, we have both resolved a significant number of claims and paid indemnity and defense costs for those claims.

“We continue to receive new claims from our subscribers and the projection of the ultimate costs of all claims has increased dramatically since 2015. Our most recent independent actuarial projections, as of September 30, 2017, indicate that we may not have sufficient assets to meet our liabilities. After consideration of our options, we have agreed to enter into an orderly liquidation supervised by the Pennsylvania Insurance Department (PID).

“A court-appointed liquidator will take control of the company’s assets and seek to resolve our remaining liabilities. The liquidator will provide additional information and instructions about this process in the near future.

“We understand this development may be concerning to HPIX’s subscribers and many supporters. Please be assured that we will cooperate fully with the PID and liquidator to achieve the best outcome for all parties.

“Once appointed, the liquidator will provide additional information and will be able to address any questions or concerns you may have.”

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CMIC Group CFO, Manny Zervos, Announces Retirement; Michael Conneely, CMIC Group Director of Finance, to Assume Role of CFO

CMIC Group announced today that its chief financial officer, Emmanuel (Manny) Zervos, will retire at the end of the year. He has served as CMIC’s CFO since 1989.

“Manny has served CMIC Group for decades with unstinting grace and professionalism, in addition to good cheer,” said John Hornby, MD, chairman and president of the CMIC Board of Directors. “Most notably, he has overseen CMIC’s geographical expansion, including the formation of the CMIC Risk Retention Group, and subsequently CMIC Group, with great distinction, likewise helping to amass the company’s present financial strength. His contributions will have a lasting impact on the company.”                                       

The CFO role will be assumed by Michael Conneely, the company’s current director of finance. Conneely has more than 25 years of business and accounting experience, including 17 years in the insurance industry. He spent the most recent 14 years in financial roles supporting several business lines at Travelers Insurance. Prior to that, he worked in a variety of financial roles in the insurance industry, including roles with a prominent reinsurer, as well as seven years with Deloitte & Touche.

“Mike’s extensive and varied experience in the financial industry is an immense asset to the company,” Hornby said. “In addition, I’m certain his leadership, vision and financial guidance will not only uphold CMIC Group’s already pristine reputation of financial diligence, but strengthen it for many years to come.”

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John Lyddane, Noted Medical Malpractice Defense Attorney, Joins Dorf & Nelson

Dorf & Nelson LLP announced today that noted medical malpractice defense litigator John Lyddane has joined the firm as a partner. Lyddane will head up Dorf & Nelson’s Medical Malpractice Defense Group in New York. He joins from Martin Clearwater & Bell.

Lyddane has tried more than 250 cases to dismissal or verdict. His cases have included malpractice claims and product liability as well as general commercial litigation, usually with a highly technical factual component. He is also a widely-published and frequent speaker on professional liability and risk management topics.

His wide-ranging roster of corporate clients has included hospitals, insurance carriers, product manufacturers, large residential landlords, municipalities and the State of New York. He also has represented numerous prominent individual defendants including physicians at teaching hospitals, other attorneys, and engineers. Additionally, he has served as national claims counsel for two corporate suppliers of medical services.

““We are excited that John has decided to join our team,”” said Jonathan B. Nelson, chair of Dorf & Nelson’s Litigation Department. ““He is an icon in the field of insurance defense and we could not be more pleased to have him on board. John’’s vast experience in medical malpractice and complex personal injury defense will complement our thriving commercial litigation practice. With John to guide the practice group and try major technical cases, the systems of Dorf & Nelson will be put to their most effective use. Dorf & Nelson’s wide ranging portfolio of legal services will allow our firm to effectively and efficiently service the medical community.”

Lyddane noted that Dorf & Nelson’s legal and technical range was the right match for the future of complex litigation:

““Dorf & Nelson is an innovative firm which uses advanced technology and procedures to focus on the critical facts and issues at an early point in complex litigation and then prepare for trial efficiently,”” Lyddane said. ““This benefits the attorneys, the individual clients and their insurance carriers. Equally important, Dorf & Nelson has a team of attorneys who can engage in the full range of litigation strategies as well as an experienced lineup of seasoned practitioners who can provide transactional legal counseling to my clients.””

According to Dorf & Nelson, Lyddane is consistently ranked among the top attorneys by his peers, with an AV Preeminent rating by Martindale-Hubbell and inclusion in the “Best Lawyers in America.” He is a fellow of the American College of Trial Lawyers. He holds a J.D. from Syracuse University School of Law, and a B.A. from the University of Rochester.

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CMIC Group CEO, Denise Funk, Announces Retirement; Stephen Gallant, CMIC Group COO, to Assume Role of CEO

CMIC Group announced today that its chief executive officer, Denise Funk, will retire at the end of the year.

Funk joined CMIC at the company’s onset in 1984, recruited by the Connecticut State Medical Society as a consultant for the newly formed mutual company founded by Connecticut physicians. She was charged with setting up the company and managing CMIC’s operations for three years. At the conclusion of the contract, Funk took over the position of chief operating officer, and thereafter, chief executive officer. Since then, CMIC has grown extensively, both in logistics as well as in policyholders. Although originally established in Connecticut, the company is now active in 13 states and has expanded to include both CMIC and its member affiliate, CMIC RRG, both of which now fall under the CMIC Group umbrella.

“Denise has led the company with unflinching grace, professionalism and wisdom for over three decades,” said John Hornby, MD, chairman and president of the CMIC Board of Directors. “The inception and subsequent success of the company, whose founding enabled many physicians to hang their own shingle and weather a turbulent era in the healthcare industry, is unquestionably due to her extraordinary contributions. Her imprint on the company will be felt for many years to come.”

The role of chief executive officer will be assumed by Stephen Gallant, the company’s current chief operating officer.

Gallant has more than 20 years of experience in the insurance industry. Prior to joining CMIC Group in March 2017 as COO, he served as senior vice president of MMG Insurance Company, a property and casualty carrier headquartered in Maine. Additionally, he had also worked for MMG Insurance Company as its vice president of marketing and assistant vice president of accounting.

“Steve’s appointment as chief executive officer marks an exciting new chapter in CMIC Group’s remarkable story,” Hornby said. “His leadership, coupled with his many years of experience, will not only help the company reach its strategic goals in the coming years, but also help CMIC Group to excel far into the future.”

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Coverys Finalizes R & Q Managing Agency Ltd. Acquisition, Plans to Launch Lloyd’s Syndicate 1975 on Jan. 1, 2018

On Dec. 4, Coverys announced the completion of the acquisition of R & Q Managing Agency Ltd. (RQMA). Under the terms of the agreement, RQMA, a fully authorized Lloyd’s managing agency based in London, will be renamed Coverys Managing Agency Limited.

The agency currently manages Syndicates 1991, 3330 & 1110, and is in the final stages of the “Making it Happen” process with Lloyd’s to establish Syndicate 1975 as a specialist Medical Professional Liability and Healthcare underwriter. Syndicate 1975 will be exclusively capitalized by Coverys and is expected to commence underwriting on Jan. 1, 2018.

“Coverys’ investment in the managing agency showcases our commitment to expand our activities to meet the needs of a changing market,” said Gregg Hanson, CEO and president of Coverys. “This continued growth offers the ability to expand our sophisticated solutions space while leveraging the leadership team of the former RQMA. We are excited by the formation of our own Syndicate, but remain committed to the provision of management to third party Lloyd’s businesses.”

“We look forward to continuing to build our relationship with Randall & Quilter Investment Holdings Ltd. as we explore opportunities to work together in the future,” said Hanson. “R&Q will remain an active resource for management of legacy portfolios and a liaison for Coverys and Lloyd’s opportunities.”

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Coverys Finalizes Acquisition of Global Insurance Management Company, Inc.

On Dec. 1, Coverys finalized the acquisition of Global Insurance Management Company, Inc. (GIMC). GIMC and its insurance subsidiary, Healthcare Underwriters Group, Inc., provide medical professional liability insurance for physicians and healthcare providers in Florida, Indiana, Kentucky, Ohio and Texas.

“Coverys is committed to expanding GIMC’s ability to offer superior products and services to grow and expand for the benefit of our policyholders and clients and to bringing long-term availability, predictability, and stability with this acquisition,” said Gregg L. Hanson, CEO and president of Coverys.

“The acquisition strengthens GIMC’s ability to expand our service offerings to a core group of hospital and physician policyholders and provides the ability to issue policies in all 50 states,” said Joshua Salman, CEO and president of GIMC. “Now being a part of a larger healthcare professional liability group, our policyholders will benefit from the greater level of financial stability and Coverys’ A rating.”

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Cooperative of American Physicians Promotes Two Members of its Risk Management Team

The Cooperative of American Physicians, Inc. (CAP) announced that it has promoted vice president Ann Whitehead, RN, JD, to lead its Risk Management & Patient Safety Department. In a concurrent announcement, the organization made known that Kimberly L. Danebrock, JD, BSN, RN, CPPS, has been promoted to director of risk management for CAPAssurance, A Risk Purchasing Group.

Ann Whitehead has been part of CAP’s risk management team for 11 years, beginning as a risk management and patient safety specialist. In 2013, she was promoted to vice president of risk management, a role she co-shared until her most recent promotion. Whitehead is a former hospital risk manager, risk management consultant and medical group risk management director. She is a licensed attorney and registered nurse with experience in medical malpractice defense and critical care nursing management. Whitehead earned her JD from Southwestern Law School and has a bachelor’s degree in Healthcare Administration.

“Ann has always had a strong leadership role in the risk management department, and I look forward to working with her in her new position,” said Jeffrey L. Stoner, senior vice president, Claims & Risk Management Services. “She will play an important role as we continue to refine and improve our risk management efforts to better serve our members.”

Kimberly Danebrock has most recently served six years as senior risk management and patient safety specialist for CAP. Prior to this, she was a medical legal specialist for Beach Whitman Cowdrey, LLP, a law firm in Oxnard, Calif. Danebrock earned her JD from Ventura College of Law, her BSN from California State University, Dominguez Hills, and her RN from Ventura Community College.

“Kim’s proven risk management expertise, along with her background in nursing and law, will be tremendous assets to our team,” said Alyson Lewis, CAP senior vice president and chief underwriting officer. “She will be a key resource and provide great value to our CAPAssurance clients.”

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