Conventus Names Industry Veteran Brian Kriger Incoming President

August 19, 2025 by matray

Conventus Inter-Insurance Exchange has hired Brian Kriger as its next president, effective Jan. 1, 2026. He will succeed current president Amy Berezein following a planned transition period to ensure continuity of service for Conventus’ physician members, brokers and partners.

Kriger brings more than two decades of medical professional liability experience. He most recently served as vice president of underwriting at EmPRO Insurance, where he led the insurer’s Northeast expansion and established its New Jersey office. Before that, he spent 17 years at MDAdvantage in roles spanning underwriting, operations, policyholder services and rate/form management.

“Brian’s deep technical expertise, broker relationships and operational discipline are exactly what we need to support our physician members in an evolving healthcare landscape,” Berezein said. “It has been my privilege to serve Conventus and our members, and I am confident Brian shares our commitment to service, integrity and long-term relationships.”

According to Conventus, Kriger is known for disciplined risk selection, data-driven pricing and collaborative broker engagement — strengths that will help Conventus build on its market position.

“I am honored to join Conventus, an organization that uniquely understands and serves New Jersey physicians,” Kriger said. “Our physician-owned structure means every decision is made with members’ best interests at heart. I look forward to working closely with our team, brokers, and partners to deliver exceptional protection and service.”

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NCMIC Names Scott Gojkovich Senior Vice President of Insurance

August 14, 2025 by matray

As newly appointed chief executive officer David Siebert continues to build NCMIC’s executive leadership team, the company has named Scott Gojkovich senior vice president of insurance, effective immediately.

In this role, Gojkovich will lead the strategic vision and operational performance of NCMIC’s insurance divisions. He joined the company in 2019 and most recently served as chief marketing officer.

“Scott’s deep knowledge of our business, his dedication to our policyholders, and his proven ability to lead complex initiatives make him the ideal person to take on this critical role,” Siebert said. “His leadership will serve our company well as we continue to strengthen our core offerings and evolve to meet the ever-evolving needs of our DCs and the chiropractic profession.”

“Our chiropractors are at the heart of everything we do, and I’m committed to ensuring we deliver the high level of service, support, and innovation they’ve come to expect from us over the past 80 years,” Gojkovich said. “I’m looking forward to enhancing our strategic, collaborative lens for the future of the insurance company.”

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Medical Liability Monitor August 2025 issue highlights

August 4, 2025 by matray

Below are some headlines and article synopses from the August 2025 issue of Medical Liability Monitor. To read the articles in their entirety, please subscribe today.

Fewer Than Half of U.S. Physicians in Private Practice
The share of U.S. physicians working in private practice continues to decline, dropping from 60.1% in 2012 to just 42.2% in 2024, according to the AMA’s latest Physician Practice Benchmark Survey. This trend reflects the growing influence of hospitals and corporate entities over the U.S. healthcare delivery system and presents an ongoing challenge for the medical professional liability insurance industry, which depends on independent physicians as its primary customer base …

Georgia Supreme Court Reopens Debate on Damage Caps in Medical Malpractice Claims Involving Wrongful Death
The Supreme Court of Georgia recently overturned a Georgia Court of Appeals ruling that disregarded the state’s $350,000 cap on noneconomic damages in a medical malpractice wrongful death case involving a $7.2 million jury award ...

U.S. Supreme Court to Decide Whether State Medical Malpractice Filing Requirement Applies in Federal Court
The United States Supreme Court will consider whether federal courts sitting in diversity jurisdiction should apply Delaware’s “affidavit of merit” statute — essentially requiring a report from a healthcare provider certifying a medical malpractice claim has merit before the case can proceed. The Supreme Court’s ruling will likely have a widespread impact because a majority of states have adopted similar statutes to combat frivolous medical malpractice lawsuits ...

Blurring Lines: How Consumer Protection Laws Are Reshaping Medical Professional Liability Risks
Hospitals and health systems are well-versed in traditional medical malpractice cases, but as healthcare is increasingly viewed as a business, providers must understand both the potential and the limitations of claims brought under consumer protection laws. These laws can be attractive avenues for individuals who believe they have been wronged by the healthcare system. Unlike medical malpractice claims, which require expert testimony and may be subject to damages caps, consumer protection statutes often allow for treble damages, punitive damages and attorneys’ fees. They may also provide injunctive relief, do not require proof of causation or actual damages, and can support class action lawsuits ...

Coverys Sells Italian MGA, Retains European Partnership
Coverys has signed an agreement to sell its Italian managing general agent, AEC Agenzia di Assicurazione e Riassicurazione SpA, to Edge Group, an Italian insurance broking platform backed by London-based private equity firm AnaCap Financial Partners ...

Michigan Supreme Court Declines Federal Court Request to Review Constitutionality of MadMal Damage Cap
The Michigan Supreme Court last month declined to review the constitutionality of the state’s medical malpractice award caps, turning down a certified question from a federal district court. The state’s high court cited its controlling precedence in Phillips v. Mirac as justification for the non-answer ...

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

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AM Best Assigns Credit Ratings to Professionals Advocate Risk Retention Group, Inc.

August 1, 2025 by matray

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Professionals Advocate Risk Retention Group, Inc. (ProAd RRG) (Hunt Valley, MD), a new subsidiary of Medical Mutual Liability Insurance Society of Maryland (Med Mutual). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect ProAd RRG’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.

Concurrently, these rating assignments follow the successful execution of a quota share reinsurance agreement with Med Mutual and the assignment of an “r” reinsurance affiliation code. Med Mutual’s ratings have been extended to ProAd RRG due to the significant level of reinsurance support provided to ProAd RRG by Med Mutual.

ProAd RRG allows for greater underwriting flexibility in other territories. The company plans to write medical professional liability coverage. ProAd RRG was established on January 1, 2025, and was capitalized by Med Mutual’s subsidiary, Professionals Advocate Insurance Company, through a surplus note.

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CFC Appoints Kyle Laudadio Healthcare Practice Leader for U.S. Market

July 30, 2025 by matray

Specialist insurance provider CFC announced the appointment of Kyle Laudadio as healthcare practice leader for the U.S. market. An established underwriting leader with more than 15 years’ experience delivering medical professional liability and risk management solutions.

Laudadio will lead CFC’s expansion of strategic broker relationships onshore in the U.S.

“This appointment marks an exciting milestone for our healthcare and life sciences division,” said Ellie Saunders, CFC head of healthcare and life sciences. “We take immense pride in the strength of our products, expertise and service. We’re delighted to welcome Kyle to CFC. With his wealth of experience, we’re confident he’ll play a key role in driving the continued growth of our international presence.”

Laudadio joins CFC from the Great American Insurance Group where he held the role of divisional vice president. There, he launched a comprehensive suite of insurance solutions for telehealth covering medical professional liability, general liability and regulatory coverage. Prior to that, Laudadio worked as an underwriter at Beazley USA for nearly six years.

“I’m excited to join CFC and help lead the expansion of our US healthcare business,” Laudadio said. “Taking this portfolio onshore is a major step forward, one that brings us closer to our brokers and clients in order to serve them even better. From our allied product to eHealth, we’re building market-leading solutions for a rapidly evolving space, all while delivering best-in-class service. It’s a privilege to be part of the team.”

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Curi Advisory Expands Healthcare Consulting Offering with Addition of New Managing Director

July 23, 2025 by matray

Curi Advisory, the dedicated consulting arm of Curi, today announced the addition of Alex Kirk as managing director, expanding its healthcare consulting expertise and offerings. According to the company, the hire further strengthens the firm's ability to drive value for healthcare organizations and partner with them to navigate today's complex operating environment with action-oriented leadership.

Kirk has more than a decade of healthcare experience, having worked with provider groups, health systems, health plans and other key stakeholders across the continuum of healthcare. His expertise spans mergers and acquisitions operational performance improvement, MSO services, financial planning and analysis, and enterprise transformation.

"Alex is a proven leader with a strong track record of driving value creation on behalf of healthcare organizations," said Brad Diericx, Curi Advisory's CEO. "His arrival comes at a time when our clients are facing heightened pressure to deliver quality care while managing costs and driving strategic change. We're thrilled to welcome him to the team and eager to continue our growth as a firm."

Prior to joining Curi Advisory, Kirk served as a director with Alvarez & Marsal. He holds an MBA from Northwestern University's Kellogg School of Management, an MHS in Biochemistry and Molecular Biology from Johns Hopkins Bloomberg School of Public Health, and a BA in Public Health from Johns Hopkins University.

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AM Best Affirms Credit Ratings of Members of MedPro Group

July 21, 2025 by matray

AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” (Superior) of the members of MedPro Group (MedPro). These Credit Ratings (ratings) apply to The Medical Protective Company (Fort Wayne, IN) and its affiliates: Princeton Insurance Company (Princeton, NJ); PLICO, Inc. (Oklahoma City, OK); Wellfleet Insurance Company (Fort Wayne, IN); and Wellfleet New York Insurance Company (New York, NY); as well as MedPro’s two reinsured affiliates, MedPro RRG Risk Retention Group and AttPro RRG Reciprocal Risk Retention Group (both domiciled in the District of Columbia). The outlook of these ratings is stable.

The ratings reflect MedPro’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.

The ratings acknowledge MedPro’s risk-adjusted capitalization being at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), as well as the group’s long-term profitable operating performance and its leading market position, which it maintains in the medical professional liability (MPL) sector, proving the group’s ability to underwrite profitably through market cycles. Additionally, the ratings consider the organization’s substantial distribution capabilities, prudent claims-handling philosophy and culture of holistic risk management. MedPro consistently outperforms peers by most metrics, illustrated by substantial historical returns on equity, low operating ratios and solid net underwriting income. Furthermore, the ratings benefit from the explicit and implicit financial support provided by its affiliate, National Indemnity Company, and MedPro’s ultimate parent, Berkshire Hathaway Inc. [NYSE: BRK A and BRK B], which includes reinsurance programs, investment opportunities and capital support.

Partially offsetting these positive rating factors are the inherent challenges associated with the medical professional liability line of business, particularly as it relates to price competition, changing market dynamics, potential changes in legislation (i.e., tort reform), increasing loss cost trends and regulatory risk. At the same time, AM Best recognizes the organization’s strong management team, diversified premium base and jurisdictional diversity, which have contributed to MedPro outperforming its peers over the longer term and maintaining a significant market position.

MedPro has historically had a large allocation to common stocks, exposing it to significant volatility during periods when the equity markets experience sharp declines. The group has demonstrated its ability to absorb this volatility historically and maintain the strongest level of risk-adjusted capitalization, as measured by BCAR, due to its low underwriting leverage, driven by its affiliated reinsurance agreement with National Indemnity Company and MedPro’s substantial capital position, as well as the investment managers’ historical trend of success in turbulent markets. At year-end 2024, MedPro moved a significant portion of its invested assets into short-term investments and cash, as well as reduced its common stock exposure.

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The Doctors Company Announces Record Tribute Plan Milestone: Over $200 Million Distributed to Members

July 16, 2025 by matray

The Doctors Company, the nation’s largest physician-owned medical malpractice insurer, part of TDC Group, announced today that it has now distributed more than $200 million in Tribute Plan awards to more than 15,000 members. Founded in 2007, the Tribute Plan is a financial benefit that rewards retiring healthcare professionals for their loyalty and dedication to superior patient care. According to the company, it is the largest such benefit in the industry, with the highest individual award to date exceeding $260,000.

“The Tribute Plan is a powerful reflection of our mission to advance, protect, and reward the practice of good medicine,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company and TDC Group. “It represents our long-term commitment to our members—and to the practice of medicine itself.”

Backed by the company’s financial strength of $7.8 billion in assets and $3.1 billion in member surplus, the Tribute Plan has received continuous annual funding since its launch. The Doctors Company funds Tribute from its own capital — not premiums — and Tribute payments are in addition to the company’s ongoing dividend program.

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AM Best Affirms Credit Ratings of ProAssurance Group Members and ProAssurance Corp.

July 10, 2025 by matray

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the members of ProAssurance Group. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) and the indicative Long-Term Issue Credit Ratings (Long-Term IRs) of ProAssurance Corp. (PRA) (headquartered in Birmingham, AL). The outlook of these Credit Ratings (ratings) is stable. All companies are indirect subsidiaries of PRA. (See below for a detailed listing of subsidiaries and indicative Long-Term IRs.)

The ratings of ProAssurance Group reflect its balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).

The group’s balance sheet strength assessment continues to be at the strongest level, with risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), remaining supportive of the strongest assessment. The balance sheet strength assessment benefits from conservative positioning of the investment portfolio, stable surplus position and financial flexibility provided by publicly traded parent, PRA. Underwriting leverage metrics have decreased in recent years as ProAssurance has shed business consistently amid reunderwriting initiatives, yet metrics remain elevated in comparison with medical professional liability (MPL) composite averages. Although surplus growth was reported in the two most recent years, capital accumulation has been inhibited somewhat by dividends to PRA, which the parent has utilized for stock repurchases and corporate expenses. AM Best assesses the group’s operating performance as adequate, with consistent underwriting losses over the most recent five-year period being more than offset by net investment income and realized capital gains. Underwriting results improved in the most recent year, partially attributable to favorable prior year loss reserve development. Overall operating ratios in recent years have benefited from some improvement in underwriting performance and the ongoing higher interest rate environment relative to earlier periods. The ratings also consider the group’s national market position as the fourth-largest writer of MPL insurance in the United States with solid breadth of product offerings across multiple disciplines, as well as geographic diversification. AM Best assesses the group’s ERM as appropriate, as the group maintains a developed ERM framework and risk management capabilities that generally are in line with its risk profile.

In March 2025, a definitive agreement was reached under which The Doctors Company Insurance Group (TDC Group) agreed to acquire all outstanding shares of PRA for $25 per share in a transaction valued at approximately $1.3 billion. The deal is expected to close in the first half of 2026, subject to customary closing conditions and receipt of regulatory approvals. PRA shareholders voted to approve the acquisition in June 2025, and the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in July 2025, satisfying one of the conditions for the closing of the pending acquisition. The acquisition remains subject to other customary closing conditions, including the receipt of remaining regulatory approvals, and both organizations will continue to operate independently until closing occurs. AM Best does not expect the transaction to have any material change to ProAssurance Group’s rating fundamentals at this time but will continue monitoring the progress and effects of this transaction once consummated.

The stable outlooks reflect AM Best’s expectation that the group will maintain its strongest level of balance sheet strength, supported by effective capital management, while ongoing initiatives implemented by management will maintain stable operating performance, supported by its favorable business profile.

Negative rating actions may occur if the group’s loss experience continues to impact underwriting profitability negatively and leads to further deterioration in operating performance trends. Negative rating action also may occur if the group’s balance sheet strength weakens, which could result from deterioration of risk-adjusted capitalization or adverse reserve development in its workers’ compensation or MPL books from rising claims frequency or severity, or changes in regulatory, legislative and judicial actions. While unlikely in the near term, positive rating actions may occur following a positive trend in operating performance that outpaces the group’s peers and materially contributes to surplus growth.

The FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) have been affirmed, with stable outlooks for the following members of ProAssurance Group:

• ProAssurance Indemnity Company, Inc.
• ProAssurance Specialty Insurance Company
• Medmarc Casualty Insurance Company
• ProAssurance Insurance Company of America
• ProAssurance American Mutual, A Risk Retention Group
• Allied Eastern Indemnity Company
• Eastern Advantage Assurance Company
• Eastern Alliance Insurance Company
• NORCAL Insurance Company
• NORCAL Specialty Insurance Company
• Medicus Insurance Company
• FD Insurance Company
• Preferred Physicians Medical Risk Retention Group, a Mutual Insurance Company

The following indicative Long-Term IRs under the shelf registration have been affirmed with stable outlooks:

ProAssurance Corp.—
- “bbb+” (Good) on senior unsecured debt
- “bbb” (Good) on senior subordinated debt
- “bbb-” (Good) on preferred stock

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Medical Liability Monitor July 2025 issue highlights

July 8, 2025 by matray

Below are some headlines and article synopses from the July 2025 issue of Medical Liability Monitor. To read the articles in their entirety, please subscribe today.

Oregon Enacts Nation’s Toughest Law Restricting Corporate Control of Medical Practices
Oregon Gov. Tina Kotek last month signed into law the nation’s strictest regulations on healthcare ownership and influence, targeting corporate investment in the state’s medical sector. Senate Bill 951, which took effect June 9, effectively bans management services organizations backed by private equity from owning or controlling medical practices in Oregon. The law marks a decisive move by state lawmakers to curb non-clinical control of medical practices, a growing concern as private equity’s influence in healthcare expands …

Bill to Extend Recoverable Pre-Death Pain and Suffering Damages Through 2029 Passes California Senate
A bill that extends the sunset of provisions in Code of Civil Procedure § 377.34 — which currently permits a decedent’s personal representative or successor in interest to recover noneconomic damages for pain, suffering and disfigurement the decedent experienced before death in survival actions through 2025 — passed the California Senate last month ...

Oklahoma Caps Damages, Adopts Daubert Standard, Streamlines Small Claims
Oklahoma lawmakers restructured the state’s tort landscape with the recent passage of Senate Bill 453, a sweeping measure that caps noneconomic damages, adopts a more defendant-friendly legal framework governing the admissibility of expert witnesses in civil court and streamlines litigation for smaller claims ...

Strong Investment Gains Offset Record Expenses for MPL Specialty Insurers During First Quarter of 2025
In the first quarter of 2025, medical professional liability specialty insurers posted strong investment gains that offset record-high underwriting expenses and continued profitability challenges. While premium growth remained steady and net income stayed positive, insurers faced persistent underwriting losses and rising cost ratios — highlighting the sector’s increasing reliance on investment income to maintain financial stability ...

MSSNY Urges Hochul to Veto Grieving Families Act Again, Cites Liability Costs and Threats to Care Access
The Medical Society of the State of New York is once again calling on Gov. Kathy Hochul to veto the latest iteration of the Grieving Families Act. The recently passed legislation would make noneconomic damages recoverable in wrongful death lawsuits, extend filing deadlines and broaden restrictions on who can sue for wrongful death. Gov. Hochul previously vetoed similar bills twice in 2023 and again in 2024, each time citing concerns about increased insurance costs, economic burden on the state’s healthcare system and its providers, and the need for further study and revisions ...

MPL Insurance Market Experiences Rising Costs, Modest Growth in 2024: MPL Association Sector Report
The medical professional liability insurance industry faced continued under-writing challenges in 2024. Its combined ratio rose to 103.2%, marking the 11th consecutive year without an underwriting profit, according to the Medical Professional Liability Association’s recently released year-end sector report. While direct premiums written (DPW) grew 5.1% industrywide, the modest gain failed to offset rising loss and expense ratios, as many insurers were grappling with post-COVID reserve development and volatility across key market segments.

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

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