ISMIE Mutual Adds Washington, D.C., to Coverage Map

June 5, 2018 by matray

ISMIE Mutual Insurance Co. announced today that Washington, D.C., is the latest coverage territory in the medical professional liability insurance company's national expansion. 

Recently granted admitted status by the District’s Department of Insurance, Securities & Banking (DISB), the company will offer wide-ranging medical liability coverage for health professionals, groups and healthcare facilities. Health professionals in the District will now have access to ISMIE’s risk management program, cyber liability protection and claims services. 

“ISMIE and our broker partners are excited to serve the diverse range of medical professionals in the nation’s capital with a growing range of products and services available to ISMIE’s national audience,” said ISMIE chairman Paul H. DeHaan, MD. “We are looking forward to supporting new policyholders caring for patients throughout the District and expansion areas beyond.” 

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Financial Strength Rating Affirmation of Coverys Member Companies and Assigned Credit Rating to Healthcare Underwriters Group, Inc.

June 4, 2018 by matray

A.M. Best announced it has affirmed the Financial Strength Rating of A (Excellent) for Medical Professional Mutual Insurance Co. (ProMutual) wholly owned subsidiaries, ProSelect Insurance Cos. (ProSelect), Preferred Professional Insurance Co. (PPIC), Coverys Specialty Insurance Co. (Coverys Specialty) and its sponsored risk retention group, Coverys RRG, Inc.  

In addition, Healthcare Underwriters Group, Inc. (HU), a Coverys company, has been assigned a Financial Strength Rating of A (Excellent). A.M. Best noted that the implementation of a quota share reinsurance agreement between HU and ProMutual provides substantial reinsurance support and new ownership gives HU policyholders access to Coverys’ patient safety and risk management programs.

“We are pleased with A.M. Best’s recognition and validation of Coverys’ financial standing,” said Gregg Hanson, CEO and president of Coverys. “Coverys’ financial strength is fundamental to the continued operational services providing policyholders progressive risk management and enhanced patient safety programs.”

“We are proud to receive an A Rating from A.M. Best for Healthcare Underwriters Group,” said Joshua Salman, CEO and president of HU. “The recognition showcases Coverys’ financial strength and the collective resources of Coverys companies and Healthcare Underwriters Group.”

The full A.M. Best report is available on the A.M. Best website at www.ambest.com.

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KAMMCO Announces Unified Brand, Updated Website

June 1, 2018 by matray

Kansas-headquartered insurer of medical professional liability today announced a unified KAMMCO brand. KAMMCO and its subsidiaries will simply be referred to as KAMMCO, with exceptions being insurance policies, financial transactions/reporting or corporate legal matters where the full subsidiary name is most appropriate or required.

The KAMMCO board recently evaluated what KAMMCO means to members, the patients they serve, the healthcare organizations with whom they collaborate and the new markets the company is likely to enter into during the next few years. In doing so, the KAMMCO mission and vision and the KAMMCO business plan have been revised to reflect a national footprint with a more encompassing suite of insurance products and healthcare solutions intended to support and advocate for physicians and the delivery of quality healthcare. According to KAMMCO, the entire enterprise is poised to advocate for providers in new and important ways that are valuable to both providers and patients alike. The revised mission and vision statements read as follows: KAMMCO Mission: To be a trusted source of innovative insurance and technology solutions designed to meet the unique needs of our network of connected healthcare communities. KAMMCO Vision: To create value for healthcare providers and the patients they serve through provider-directed, patient-focused business and technology solutions that support quality care. According to KAMMCO, the unification also presented an opportunity to “freshen” up its logo and general branding look. The company also refreshed its www.KAMMCO.com website. The information and member resources are now organized according to the insurer's Insurance division and Healthcare division. The updated website no longer requires a user name and password for members to access member resources (linked third party web resources, such as MED-IQ and the Cyber Security Resource Center, will still require a login upon reaching the respective portals).

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Two Members Re-Elected to the NORCAL Mutual Board of Directors

June 1, 2018 by matray

The NORCAL Mutual Board of Directors held the Annual Meeting of Members on Thursday, May 31, in San Francisco. During the Annual Meeting, policyholder members re-elected Alice H. Gannon and M. Diane Koken to serve a three-year term until the Annual Meeting of Members to be held in 2021.

The NORCAL Mutual Board is composed of nine directors of varying specialties and business backgrounds. Gannon has more than 40 years of experience as an actuary for the insurance industry, and Koken has been an attorney and formerly served as Pennsylvania Insurance Commissioner.

Additionally, Patricia Dailey, MD, announced her retirement from the NORCAL Mutual Board. Dr. Dailey served on the Board since 2004.

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