Lafayette Surgical Specialty Hospital Honored with LAMMICO’s 9th  Annual Patient Safety Award and Grant

October 10, 2024 by matray

LAMMICO congratulates Lafayette Surgical Specialty Hospital in Lafayette, La., the recipient of the 9th Annual LAMMICO Patient Safety Award and Grant. The 2023-2024 Patient Safety Award and Grant centered on falls prevention. Preventing patient falls is a top priority for patient safety, patient satisfaction, quality reputation and cost reduction. Patient falls may result in injuries such as lacerations, fractures, intracranial bleeding and death. Compared to patients who do not suffer falls, those with fall-induced injuries stay in the hospital longer and incur higher hospital costs. To decrease patient falls in the hospital or ambulatory surgery setting, a multifaceted approach with standardized and customized interventions is needed. Developing an evidence-based falls prevention program is essential. This grant program encouraged participating hospitals to tackle this challenge and reduce their patient fall rates.

Grant applicants completed falls prevention online courses in LAMMICO’s learning management system. These courses focused on information about falls, recommended interventions for falls prevention programs, and how staff can help prevent patient falls.

By demonstrating the best improvements (in policies, procedures, protocols and/or processes) related to a reduction in patient fall rates after completing this risk management and patient safety education, Lafayette Surgical Specialty Hospital (LSSH) was awarded:

  • $10,000 grant for nursing professional development
  • One-year Risk Manager membership to the American Society for Healthcare Risk Management (ASHRM)

One of the steps taken by the team at LSSH to prevent falls included staff helping all patients with dressing. A “Call Before You Fall” program was implemented throughout the hospital. It included educational patient signage. The staff placed all patients in a chair or on the side of the bed with the side rails up, rather than on the side of the bed, while a wheelchair was obtained for discharge. LSSH had a 40% decrease in patient falls for the three-month post-education period, as compared to the three-month pre-education period.

Specialists Hospital Shreveport in Shreveport, La., is the second place participant of the Patient Safety Award and Grant. A grant of $5,000 for nursing professional development and a one-year Risk Manager membership to ASHRM was presented to this hospital in recognition of this honor.

After participating in the grant program, Specialists Hospital Shreveport learned that one of the best falls prevention steps is to better educate staff. They updated their falls prevention policy and procedures. They also developed an educational presentation that is used during new staff orientation to teach falls prevention strategies.

LAMMICO commends these two hospitals and all others who submitted award applications, for their commitment to improving patient safety.

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Preverity Partners with Graves Gilbert Clinic to Enhance Patient Safety

October 7, 2024 by matray

Preverity, a provider of clinical risk analytics and patient safety solutions, and Graves Gilbert Clinic, a  healthcare provider in South Central Kentucky, have announced a strategic partnership to enhance patient safety and risk mitigation efforts.

According to the companies, this collaboration marks a significant step forward in healthcare, combining Preverity's  data analytics capabilities with Graves Gilbert Clinic's commitment to delivering exceptional patient care.  Through this partnership, Graves Gilbert Clinic will leverage Preverity's analytics to gain deeper insights into patient safety outcomes and physician practice patterns.

"We are proud to partner with Graves Gilbert Clinic, an organization renowned for its dedication to patient care," said Gene Boerger, Preverity President & COO.  "Our combined expertise will empower Graves Gilbert Clinic with data-driven insights to optimize patient safety protocols and reinforce their commitment to providing exceptional healthcare."

Preverity's platform will provide Graves Gilbert Clinic with:


  • Timely and accurate intelligence on clinical activities.

  • Benchmarks against national, regional, and system standards.

  • Insights into factors influencing physician risk.

  • Tools to enhance patient safety protocols.


"This partnership reflects our commitment to delivering the best possible care to our patients," said Chris Vowels, chief risk officer of Graves Gilbert Clinic.  "By leveraging Preverity's data analytics expertise, we are taking proactive steps to enhance patient safety, mitigate risks, and continuously improve our healthcare delivery."

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AM Best Affirms The Doctors Company’s ‘A’ Excellent Financial Rating and Upgrades the Long-Term Issuer Credit Rating of Hospitals Insurance Company to ‘a+’

October 1, 2024 by matray

AM Best has affirmed The Doctors Company's financial strength rating (FSR) of A (Excellent) and its long-term issuer credit rating (ICR) of "a+". The outlook of these ratings is stable.

The FSR of A (Excellent) and the long-term ICR of "a+" (Excellent) have been affirmed for the following:


  • The Doctors Company, an Interinsurance Exchange

  • TDC National Assurance Company

  • TDC Specialty Insurance Company

  • TDC Special Risks Insurance Company

  • The Doctors Company Risk Retention Group, a Reciprocal Exchange


Additionally, AM Best has upgraded the long-term ICR of Hospitals Insurance Company (HIC) to "a+" (Excellent) from "a" (Excellent) and affirmed its FSR of "A" (Excellent). HIC is a subsidiary of The Doctors Company.

The FSR of A is assigned only to select companies with excellent ability to meet ongoing insurance obligations. The "a+" ICR is assigned to entities that have an excellent ability to meet their ongoing senior financial obligations.

"These ratings from AM Best reflect the strength and stability of our company and reinforce our vision to build the preeminent organization for service to healthcare," said Richard E. Anderson, MD, FACP, Chairman and CEO of The Doctors Company and TDC Group. "Our financial strength allows us to help healthcare professionals meet the challenges of a constantly shifting landscape and better serve our members."

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LAMMICO Named Endorsed Carrier of Mississippi Hospital Association

October 1, 2024 by matray

LAMMICO announced a new strategic partnership with the Mississippi Hospital Association (MHA) as its endorsed medical professional liability carrier. The MHA is the statewide agency for healthcare representation and service to all hospitals and healthcare networks, as well as the patients and communities they serve. MHA is comprised of more than 100 hospitals, healthcare systems, networks, care providers and a pool of over 50,000 employees.

“The LAMMICO team is excited to enter this partnership and earn this endorsement from MHA,” said J. Michael Conerly, MD, LAMMICO president and chief executive. “With our experience in providing medical professional liability insurance for hospitals and other healthcare facilities in the South, this is a wonderful opportunity for us to work with those that provide care to the citizens of Mississippi. We look forward to upholding our purpose, ‘we protect those who care for others.’”

“LAMMICO’s commitment to patient safety and improving quality outcomes aligns with MHA’s mission and will greatly benefit hospitals and their patients. We look forward to introducing this new partner to our communities and we are pleased to welcome LAMMICO to the MHA family”, said Richard Roberson, Mississippi Hospital Association president and chief executive.

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AM Best Revises Outlooks to Negative for Members of Coverys Companies

September 26, 2024 by matray

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a” (Excellent) of Medical Professional Mutual Insurance Co. and its rating unit members, collectively known as Coverys Companies. (See below for a detailed list of these subsidiaries and Credit Ratings.)

The ratings reflect Coverys’ balance sheet strength, which AM Best assesses as strongest, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management.

The negative outlooks reflect pressure on Coverys’ balance sheet strength assessment from increased volatility in loss and loss adjustment expense reserves as the group continues to report modest adverse reserve development in the past few years, which is a clear departure from an earlier practice of more conservative reserving with consistently favorable reserve development. As of year-end 2023, accident years 2016-2019 continued to develop adversely, partially offset by large reserve releases in 2021-2022, which may be premature given the long-tailed nature of the medical professional liability (MPL) line of business. Due to the increased volatility of reserves, the assessment of the group’s balance sheet strength, while still at the strongest level currently, could be lowered potentially.

AM Best assesses Coverys’ operating performance as marginal, as its underwriting and return metrics lag its MPL peers and the broader property/casualty industry. In the past few years, the group’s calendar-year underwriting results showed some improvement from comprehensive operational overhauls by the new management team. However, due to the long-tailed nature of the MPL line and the more recent weakening of reserve strength, AM Best will have more confidence in these results when the years mature.

Negative rating action could occur if adverse reserve development materially impacts earnings and/or future capital formation. Negative rating action also could occur if the group’s risk-adjusted capitalization were to weaken materially, which could result from significant deterioration of operating performance, an increase in claims frequency or severity, or from adverse reserve development.

While unlikely in the near term, the ratings may be positively affected through sustained improvement in underwriting and overall operating performance providing support for the Coverys’ strongest level of balance sheet strength.

The FSR of A (Excellent) and the Long-Term ICRs of “a” (Excellent) have been affirmed with the outlooks revised to negative from stable for the following members of the Coverys Companies rating unit:



  • Medical Professional Mutual Insurance Company

  • ProSelect Insurance Company

  • Preferred Professional Insurance Company

  • Coverys Specialty Insurance Company

  • Coverys Risk Retention Group, Inc.

  • Coverys Limited

  • Coverys International Insurance Company Designated Activity Company
 

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EmPRO Recognized as Top Workplace

September 12, 2024 by matray

EmPRO Insurance Co. was recently recognized by Top Workplaces USA, an employer recognition program.

EmPRO was honored as a Top Workplace on Long Island and received national recognition as a leading insurance company in the ‘Financial Services’ category as a Top Workplace earlier this year. This marks EmPRO’s debut on both nationwide lists, highlighting its commitment to creating an excellent work culture alongside impressive financial growth.

“Receiving these Top Workplaces awards highlight our collaborative environment at EmPRO, while also underscoring our core values,” said Bruce Shulan, EmPRO president and CEO. “It’s truly inspiring to see how much our efforts are appreciated by employees and to receive affirmation that we have successfully created a space where top talent can innovate, grow and excel. I extend my heartfelt thanks to all our employees for their invaluable contributions to this achievement.”

“The recognition is especially meaningful because it reflects the voices of our employees,” said Jocelyn Tobia, EmPRO vice president of human resources. “At EmPRO, we’re dedicated to creating a workplace where everyone feels valued and heard. Our focus on employee satisfaction and professional development is evident in our low turnover rate and the strong tenure of our experienced team members.”

The Top Workplace rankings are based on employee feedback results captured by the Energage Workplace Survey, which is built on data from millions of employees at tens of thousands of organizations during the past 18 years. In the survey, EmPRO employees awarded the company high marks in supporting its positive direction, showing appreciation for their contributions, fostering professional growth and development, and for genuinely caring about their concerns.

EmPRO’s ‘people-first’ approach is highlighted by several employee initiatives, including a generous tuition reimbursement program, which supports both undergraduate and graduate studies. The company also actively encourages its employees to participate in skill-building seminars. In addition, EmPRO recently introduced a comprehensive Management Training Series designed to assist supervisors and managers in advancing their careers and honing their leadership skills. The company has also invested in state-of-the-art conference rooms and collaborative workspaces, as well as adding an onsite café and a new Fitness Center.

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Medical Liability Monitor September 2024 issue highlights

September 10, 2024 by matray

Below are some headlines and article synopses from the September 2024 issue of Medical Liability Monitor. To read the articles in their entirety, please subscribe today.

Michigan Wrongful Death Act Precludes Recovery of Future Earnings
The Michigan Supreme Court determined last month that families are not eligible to sue for recovery of a loved one’s future earning capacity in wrongful death lawsuits. The ruling overturns precedent and reaffirms that the state’s Wrongful Death Act does not permit an estate’s recovery of lost future earnings …

Study Chronicles Adverse Events in The Outpatient Setting
A new study examining the prevalence of patient harm in outpatient settings — like primary care visits, specialty care appointments, day surgeries, visits to the emergency room and other settings where patients receive most of their care — discovered that 7% of patients who received treatment at 11 outpatient care facilities in 2018 experienced at least one adverse event and 1.9% experienced at least one preventable adverse event …

MPL Association Analysis of Loss Reserving Finds Continued Redundancy
The medical professional liability industry has historically experienced favorable loss reserve development. According to the MPL Association report, cumulative favorable development exceeded $17 billion between 2004 and 2018. However, this positive trend has experienced a significant decline as of late, with total favorable development amounting to less than $2 billion between 2019 and 2023. Despite this contraction, the report’s findings suggest that the industry’s reserves remain largely redundant …

Direct Written Premium Continues Rising, Easing Expense and Indemnity Payment Pressures for MPL Specialty Writers
Mirroring the first quarter of 2024, MPL premiums during the second quarter continued to grow. The composite’s direct written premium increased by 1.4% relative to the second quarter of 2023. Although this marks the composite’s seventh consecutive year of premium growth, its second-quarter 2024 was a bit muted when compared to the previous three years. Yet while this year’s second-quarter premiums fall short of the mid-year peak in 2005, they do represent the third-highest premiums in the data’s 20-year history …

ATRA Designates Five States Lawsuit Infernos Due to Expanding Liability
The American Tort Reform Association (ATRA) last month designated Colorado, Maryland, Missouri, New Hampshire and New York “Lawsuit Infernos” in its latest Legislative HeatCheck report, citing the pursuit of liability-expanding laws by those states’ legislatures as reason for continued scrutiny. The ATRA’s Legislative HeatCheck report evaluates a select group of states’ progress — or lack thereof — in enacting meaningful tort reform measures during their most recent legislative sessions …

California Bill Aims to Regulate Private Equity in Healthcare
A bill pending in California’s legislature to ratchet up oversight of private equity investments in healthcare is receiving enthusiastic backing from consumer advocates, labor unions and the California Medical Association but drawing heavy fire from hospitals concerned about losing a potential funding source. …

Subscribe today to get this issue (as well as the 2024 and 2025 Annual Rate Survey at no additional cost).

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Coverys Appoints Nico Santini to be the Organization’s First Chief Investment Officer

September 9, 2024 by matray

Coverys announced today the appointment of Nico Santini, CFA, to be the organization’s first chief investment officer (CIO). Santini will report to president and chief executive Joseph G. Murphy.

With more than 20 years of investment experience, the company reports that Santini will play a pivotal role in setting and achieving long-term goals that support the Coverys’s insurance business. He will also lead Coverys’ investment policy, asset allocation, portfolio and risk management, and investment accounting functions.

Santini is expected to strengthen strategic planning initiatives by bringing investment policy and insights into the investment markets and insurance environment. He has deep expertise on the buy-and-sell side of insurance asset management, strategic and tactical asset allocation, risk and asset liability management, and business planning.

“Our Coverys investment portfolio is a valuable asset in supporting our policyholders, agents and brokers, and our organization to maximize our financial strength and growth opportunities,” Murphy said. “The creation of the chief investment officer role is a recognition of our commitment to our policyholders and our agents and brokers and is an important step in our evolution as an organization with international reach. Nico’s extensive experience building out investment structures will strengthen Coverys’ strategic approach to managing and growing its portfolio, enabling us to better support our ambitious growth goals and capital decision-making processes.

“Coverys has steadily served the needs of its customers as a result of its dedication to strong financial performance and its stable investment philosophy. I’m honored to help set the vision, strategy, and pathways for this next chapter of company growth and join a new team of colleagues committed to excellence.”

Most recently, Santini served as CIO at Coaction Specialty Insurance, leading the investment group through the acquisition of publicly traded ProSight Global, where he also served as CIO. During Santini’s tenure at the two organizations, he grew the investment group’s capabilities and established investment policies and procedures that ultimately supported the investment portfolio. Prior to that, Santini was senior portfolio manager for New England Asset Management.  

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LAMMICO Honored as a Top Workplace in Greater New Orleans

August 29, 2024 by matray

LAMMICO was recently named the No. 2 "Top Workplace" for 2024 by The Times-Picayune and The New Orleans Advocate. The medical liability insurer also received special awards for "Communication" and being named a "Top Workplace" for 10 consecutive years, while earning the No. 1 spot in 2021 and 2023. The "Top Workplace" honor is based solely on employee feedback gathered through a confidential, third-party survey that uniquely measures the employee experience and its component themes, including whether employees feel respected and supported, enabled to grow and empowered to execute, among others.

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MagMutual Names Tanner Colegrove, MD, New Chief Medical Officer

August 28, 2024 by matray

MagMutual Insurance Co. named Tanner Colegrove, MD, its new chief medical officer. A board-certified OB/Gyn, Colegrove received her medical degree from the University of Iowa and completed her residency at University of Arizona College of Medicine. She has 18 years of  experience as an OB/Gyn and was most recently the medical director of maternity services at Northwestern Medicine Lake Forest Hospital (NLFH).

During her time at NLFH, Colegrove was integral to patient safety efforts and provided physician-level oversight of quality, safety and operations in the maternity unit. Her notable accomplishments include founding the OB/Gyn Hospitalist program at NLFH, helping the department earn a U.S. News and World Report designation of “High Performing Maternity Unit” in 2023 by reducing cesarean section rates from 28.2% in 2022 to 26.7%; helping to reduce C-section decision-to-incision times by implementing a standardized team response to labor emergencies; and being named “NLFH Patient Safety Champion” in 2022.

Colegrove also served as regional medical director for the Northwestern Medicine Academy for Quality & Safety Improvement (AQSI), a professional development program that equips clinicians with knowledge and skills to lead meaningful change. Through this work, Colegrove contributed to quality improvement efforts across various specialties and clinical settings.

As MagMutual’s chief medical officer, Colegrove will lead MagMutual's clinical risk mitigation initiatives and direct the development of educational resources and strategies to help policyholders improve patient outcomes and avoid claims.

“Dr. Colegrove’s dedication to keeping patients safe and focusing on actionable clinical strategies makes her a great fit for this role and aligns with MagMutual’s commitment to reducing risk and optimizing outcomes for policy owners and their patients,” said Bill Kanich, MD, JD, MagMutual executive chairperson. “We’re pleased she is joining our team and I’m excited for what she’ll be able to accomplish.”  

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