AM Best Downgrades Credit Ratings of Curi Insurance Group’s Members

April 13, 2026 by matray

AM Best Downgrades Credit Ratings of Curi Insurance Group’s Members; Places Credit Ratings Under Review With Negative Implications AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “a” (Excellent) of the members of Curi Insurance Group (Curi) (Raleigh, NC). Concurrently, AM Best has placed the Credit Ratings (ratings) under review with negative implications.

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

The FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been placed under review with negative implications for the following members of Curi Insurance Group:

• UMIA Insurance, Inc.
• MMIC Insurance, Inc.
• Medical Mutual Insurance Company of North Carolina
• Medical Security Insurance Company
• MMIC Risk Retention Group, Inc.

The rating downgrades are based on the group’s surplus position, which has been impacted materially by significant adverse loss reserve development, driving large underwriting losses and increasing loss reserve metrics. Consequently, the group’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), has been on a downward trend and no longer supports the strongest balance sheet strength assessment. This deterioration has been accompanied by rising underwriting leverage, adverse loss reserve development and gradually declining liquidity metrics.

The ratings have been placed under review with negative implications due to deterioration in Curi’s overall balance sheet strength and operating performance driven by material adverse development and surplus decline, significantly deviating from projections. Additionally, results raise questions regarding internal controls, due diligence and governance, as well as price adequacy, underwriting and the potential for future reserve strengthening. The group is exploring numerous strategies currently to mitigate ongoing issues. The ratings will remain under review with negative implications until AM Best is able to gather further information regarding the group’s future capitalization and operational plans.

The Doctors Company Promotes Hayes to Interim SVP of Claims

April 7, 2026 by matray

The Doctors Company has promoted Brittnie Hayes to interim senior vice president of claims, the insurer announced, succeeding Michael Meyer, who is retiring after 42 years in the medical professional liability insurance industry.

Hayes will lead the national claims team and oversee the planned integration with ProAssurance, while providing continuity for members, brokers and business partners. She will set strategic and operational direction for claims, strengthen reserve governance and litigation strategy, and manage day-to-day execution.

“Mr. Meyer has been a steady, trusted leader at The Doctors Company. He brought deep expertise, sound judgment, and a consistent focus on doing the right thing,” said Deepika Srivastava, chief operating officer. “We have full confidence in Ms. Hayes to ensure continuity for our more than 100,000 members. Her leadership in advancing data-driven insights strengthens our defense and reinforces our disciplined approach to claims management. She brings a rare ability to pair technology with human judgment to drive strong trial outcomes.”

Hayes joined The Doctors Company in 2023 and has held national and regional leadership roles, most recently serving as vice president of claims for the Northeast Region. In that role, she led regional litigation, oversaw claims operations and partnered with underwriting and business development on strategy, jurisdictional risk and data-driven performance insights.

“I am grateful for the opportunity to lead this team and build on the strong foundation we've created,” Hayes said. “At a time of rising nuclear verdicts and changing courtroom narratives, we remain focused on delivering a strong defense to protect our members. Ninety-three percent of The Doctors Company members surveyed say we set the standard for the industry's most aggressive defense; we will continue to prioritize the needs of healthcare professionals while maintaining rigorous claims-handling practices.”

Hayes previously held leadership roles at COPIC Insurance Company and worked as a defense attorney specializing in medical professional and hospital malpractice litigation. She holds a juris doctor from Creighton University and a bachelor of science degree in political science from Nebraska Wesleyan University.

The Doctors Company Announces $14.3 Million Dividend

March 31, 2026 by matray

The Doctors Company announced that it has approved a 2026 premium dividend of approximately $14.3 million, bringing the insurer’s total of declared dividends to date to $500 million.

“We are pleased to reward members once again with earned dividends,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company and TDC Group. “Dividends are an important part of our mission to advance, protect, and reward the practice of good medicine.”

Dividends of up to 10% were approved by The Doctors Company Board of Governors for eligible members in the following states: Florida, Idaho, Illinois, Maryland, Massachusetts, Michigan, Montana, North Carolina, Ohio, Texas, Virginia, Washington and Wyoming.

Members of the American Society of Plastic Surgeons and members of the American Academy of Otolaryngology – Head and Neck Surgery may also receive a dividend, depending on their eligibility.

Eligible members will receive this year’s dividend on their annual premium for policy renewals between July 1, 2026, and June 30, 2027.

“As a member-owned company, we are committed to sharing the results of our financial success with the healthcare professionals we insure,” said Deepika Srivastava, chief operating officer of The Doctors Company. “Our multiyear dividend program recognizes the outstanding outcomes achieved by our members.”

Corgeris Expands into Illinois, Kentucky Medical Malpractice Markets

March 24, 2026 by matray

AM Best Upgrades Credit Ratings for Members of CapSpecialty Insurance Group

March 23, 2026 by matray

AM Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings to “aa-” (Superior) from “a+” (Excellent) of Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation (both of Middleton, WI) and Platte River Insurance Company (Omaha, NE), collectively known as CapSpecialty Insurance Group (CapSpecialty). The outlook of these Credit Ratings (ratings) has been revised to stable from positive.

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

CapSpecialty’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), has been consistently maintained at the strongest level and benefits from the significant reinsurance agreements put in place with its affiliate National Indemnity Company, which reduced CapSpecialty’s net premium and reserve leverage ratios. CapSpecialty’s investments are managed by Berkshire Hathaway Inc., and are expected to show, over time, an increase in allocations to common stocks with high intrinsic value, in accordance with Berkshire Hathaway Inc.’s investment philosophy. Nonetheless, the portfolio is currently almost 100% invested in U.S. Treasury bills and investment income has been a strong tailwind for CapSpecialty’s operating earnings.

AM Best now assesses CapSpecialty’s operating performance as adequate. The upgrading of the ratings reflects AM Best’s view that underwriting actions taken by the group have led to improved underwriting results and reduced volatility that proved to be sustainable over time. CapSpecialty’s underwriting metrics and overall profitability have been consistent with the levels of an adequate operating performance assessment and are projected to maintain their recent favorable trends for the foreseeable future.

Blackstone Trial Group Launches Firm Focused on Correctional Healthcare Defense

March 13, 2026 by matray

A new law firm dedicated exclusively to defending correctional healthcare providers facing medical malpractice and civil rights claims has launched with offices in Alabama and Texas, the firm announced.

Blackstone Trial Group said it will focus on representing healthcare professionals and organizations that provide medical care within jails and prisons, a specialized litigation area that often involves both malpractice allegations and federal civil rights claims.

“Healthcare professionals working in correctional settings face unique challenges that are often misunderstood in the courtroom,” said Susanne Moore, founding attorney and CEO of the firm. “Our mission is to ensure their full story is told and that outcomes are fair and equitable.”

The firm said correctional healthcare presents a complex environment in which providers must deliver care while navigating security protocols, resource limitations, and a patient population with disproportionately high rates of chronic illness, mental health conditions and substance use disorders. Despite those challenges, providers are typically held to the same legal standard of care as clinicians in traditional healthcare settings.

Blackstone Trial Group said it was formed to provide defense representation tailored to those operational realities. The firm will handle litigation involving medical malpractice claims, wrongful death actions and federal civil rights lawsuits, including cases brought under 42 U.S.C. § 1983 and allegations of deliberate indifference under the Eighth Amendment to the United States Constitution.

The firm takes its name from William Blackstone, whose Commentaries on the Laws of England influenced the development of American jurisprudence.

“Justice means restoring balance,” Moore stated. “It means ensuring patients are treated fairly and within the standard of care. But it also means guarding against excessive verdicts that threaten to dismantle healthcare institutions and undermine the very care communities depend on.”

Moore, a registered nurse and multi-state licensed attorney, previously practiced as a medical malpractice defense attorney at a large law firm before serving as in-house counsel managing litigation and self-insurance for a Texas health sciences center providing correctional healthcare services. She later spent more than a decade working as a correctional healthcare operations executive.

“I've led large scale state correctional healthcare vendor transitions, helping teams balance the operational challenges between security requirements and patient care,” Moore noted. “That experience informs every case we handle. We don't just understand the medicine—we understand the environment.”

The firm said it will represent individual healthcare professionals, correctional healthcare companies and institutions nationwide. It also said it plans to depart from the traditional billable-hour model, offering fee structures designed to emphasize efficiency and results.

NOW Insurance Tops 30,000 Active Policies in Milestone for Healthcare Liability Insurer

March 11, 2026 by matray

NOW Insurance Services Inc. has surpassed 30,000 active policies nationwide, marking a new milestone for the Houston-based provider of professional liability coverage for healthcare providers and facilities.

The company said the achievement reflects growing demand for simplified insurance products designed for healthcare professionals, particularly allied health providers, home healthcare organizations and physician practices.

NOW Insurance and its program manager, PointBridge Insurance Services, have written more than 74,000 total policies since the company launched, according to the announcement.

Chief executive officer and founder Philip Cabaud said the milestone reflects the company’s expansion and its relationships with brokers and policyholders.

"Reaching 30,000 active policies is more than a number, it's a reflection of the relationships we've built with our customers, brokers and partners," said Cabaud in a statement. "We're proud of how far we've come, and even more excited about where we're headed. This milestone fuels our drive to keep innovating and expanding access to quality insurance coverage for healthcare providers and entities."

The company’s offerings include professional and general liability insurance products for allied healthcare professionals, home healthcare providers, miscellaneous healthcare facilities and physicians.

NOW Insurance has also received recognition in recent years from business and insurance technology organizations. The company was named to the Inc. 5000 list of fastest-growing private companies in the United States for two consecutive years and ranked ninth among insurance companies on the list, according to the company.

In addition, the firm said it was recognized as a Celent Model Insurer for customer experience transformation, an award that evaluates innovation, business impact and technology implementation in the insurance industry.

Company executives said they plan to continue expanding coverage offerings and technology tools aimed at improving insurance accessibility and risk management resources for healthcare providers.

Brown & Brown Insurance Market Report Flags Growing Risks in Healthcare Professional Liability Sector

March 10, 2026 by matray

A new insurance market report from brokerage Brown & Brown analyzing trends across industry segments — including agriculture, real estate, aviation, environmental liability, financial institutions and other specialty lines — highlights growing pressures in the healthcare professional liability (HPL) sector driven by rising verdict severity.

According to the report, professional liability claims in the healthcare sector have reached “an all-time high in terms of value,” with the average of the top 50 medical malpractice verdicts increasing from $27 million in 2019 to $56 million in 2024 and the number of verdicts exceeding $10 million more than doubling since 2015. The authors say the more plaintiff-friendly legal environment is also contributing to higher malpractice settlements.

Despite the escalating litigation environment, the market is expected to experience modest rate increases compared with other healthcare coverage lines. The report indicated that healthcare organizations should expect medical professional liability rates to increase by between 5% and 10% in the coming year, although more litigious jurisdictions are experiencing larger increases as insurers respond to loss trends.

While primary medical malpractice coverage remains relatively stable, insurers are tightening capacity in excess and umbrella liability layers covering healthcare organizations. Carriers are reducing available excess capacity for hospitals and health systems, making it more difficult for organizations to secure large liability towers, with projected rate increases between 15% and 25%, according to the report.

“Carriers are tightening terms and scrutinizing risks more closely, particularly for high-exposure areas,” the report’s authors wrote. “Markets are actively reducing their excess and umbrella capacity for hospitals and health systems, making it difficult to secure significant limits.”

The report points to the rapid expansion of allied healthcare providers as another potential driver of future claims. It notes that the number of allied healthcare professionals doubled between 2012 and 2023, and “with the increase in providers, some of whom work independently, we could see a rise in the frequency and severity of medical malpractice claims for these professionals.”

The report describes the healthcare sector as navigating significant transformation driven by financial pressures, regulatory changes and technological developments. Industry consolidation, lingering staff shortages and the expanding incorporation of artificial intelligence are reshaping healthcare operations and influencing the risk profiles insurers must evaluate. Those operational changes are unfolding against a broader liability backdrop characterized by rising litigation costs and increasingly large jury verdicts.

Given these dynamics, the report emphasizes the importance of risk management practices for healthcare providers seeking liability coverage. Healthcare organizations are encouraged to begin renewal discussions early, strengthen patient safety and risk management programs and maintain documentation of staffing levels, training protocols and patient care guidelines. The report also advises organizations to bolster cybersecurity and vendor oversight practices as technology-related exposures become a growing factor in liability underwriting.

MPL Association, I-PASS Partner to Launch Healthcare Communications Improvement Initiative

March 6, 2026 by matray

The Medical Professional Liability (MPL) Association and IPASS Patient Safety Institute today announced a strategic partnership to improve patient safety and reduce communication-related medical errors through the launch of the Healthcare Communications Improvement Initiative.

Communication breakdowns during patient handoffs are among the most common contributors to high-severity medical and hospital liability claims, exposing healthcare organizations to millions of dollars in preventable liability while simultaneously placing patients at risk. Through this new partnership, MPL Association members receive discounted access to the I-PASS methodology, providing hospitals, health systems, and self-insured organizations with a proven framework to strengthen care transitions and reduce key drivers of high-severity claims.

“Adopting a systematic approach, rather than focusing on individual error, helps reduce liability-inducing, highseverity events," said Eric R. Anderson, president and CEO of the MPL Association. “By working with I-PASS, we offer our members access to a practical, evidence-based solution that addresses one of the most costly contributing factors in high-severity claims: breakdowns in communication during patient handoffs. We know claims involving communication issues are more complicated, involve a longer time to resolution, and are more likely to result in payment.”

“I-PASS was built to solve one of healthcare’s most persistent problems: miscommunication during care transitions,” said Marshall Burkhart, CEO of the I-PASS Patient Safety Institute. “Partnering with the MPL Association allows us direct access to risk, claims, and captive leaders who witness the downstream effects of these failures every day. Together, we can help organizations adopt a structured approach that improves safety for patients while also reducing liability exposure.”

As part of the partnership, the MPL Association is also offering joint education for members with a focus on strategies to reduce miscommunication during patient handoffs and improve clinical and financial outcomes. The organizations also will explore demonstration projects with self-insured healthcare systems to measure impact and develop case examples for broader adoption.

“This is another exciting step in our commitment to bring value to MPL Association members and support the healthcare community,” Anderson said. “We look forward to working with I-PASS and the journey ahead to make a measurable impact on patient safety and claims reduction.”

Last-Minute Tweak to Bill Could Double Virginia’s Medical Malpractice Payment Caps for Plaintiffs

March 5, 2026 by matray

by Charlotte Rene Woods, Virginia Mercury
March 5, 2026

What started as a “small little bill” by Sen. Mark Obenshain, R-Rockingham, to cap prejudgement interest in medical malpractice lawsuits on Wednesday evolved into a proposed doubling of payment caps for plaintiffs of successful lawsuits.

Virginia’s House of Delegates went into recess the afternoon of March 4 to hold a special meeting of its Courts of Justice Committee. There, a substitute rewrite of Senate Bill 536 was deliberated and then advanced by a vote of 18 to 4. 

Current Virginia law already outlines caps for payments to plaintiffs in successful medical malpractice lawsuits, citing a maximum payment amount of $3 million, with a yearly incremental increase until 2031. 

The new version of Obenshain’s bill would change the law to allow for a $6 million cap beginning next year. The bill also extends the statute of limitations for when a plaintiff can bring a case against a provider. 

Health systems pushed back against the measure, arguing that doubling the cap could strain hospitals with higher malpractice insurance premiums for their physicians. Rural hospitals also expressed concern, as they often operate in underserved areas and work within tight fiscal margins. 

Rufus Phillips, CEO of the Virginia Association of Free and Charitable Clinics, also opposed the bill. Phillips also expressed concern that the proposed change could affect Virginia’s Division of Risk Management, which also provides coverage for the network of volunteers free clinics rely on. 

“That is the life blood of the free clinic model throughout the state, and it is fair to say that clinics would cease to exist,” he said. 

Advocating for the patient experience, Charlottesville-based attorney Les Bowers spoke in support of the bill. 

He said that he’s taken on medical malpractice cases in the “reddest and bluest” parts of Virginia and North Carolina. A common thread, he relayed, is that people think a cap is a good idea until they personally experience one. 

He added that some clients “are injured so badly the cap does not provide redress” and described the “tragedy” of representing clients after botched medical care. 

Del. Jason Ballard, R-Giles, who voted to advance the bill, first noted his “struggle” to figure out what to do. 

“On one hand, I have concern for small rural hospitals that may struggle, but the other side of the equation is protecting the patient from medical negligence,” he said minutes before the bill reported out of the committee. 

Ballard was among a few Republicans to join his Democratic colleagues in advancing the bill, while Del. Rip Sullivan, D-Fairfax, voted against it. 

“In two short weeks to go from a bill that had to do with prejudgement interest to a bill that does raise the cap and include a complete change on the statute of limitations … to me is just too much whiplash,” he said, and suggested the bill could have more time for development next year. 

Obenshain responded that he was surprised to have drastically altered his bill so fast, but said he believes it can “provide some certainty for the long run.”

“When I brought this bill, it was a simple little bill,” he said. “But I’ve also learned to go with the flow. If there’s progress in trying to work something out, I want to take advantage of that momentum.” 

Having now been amended and reported out from the Courts of Justice Committee, the bill will continue to advance through or fail in the House of Delegates. Now that the midpoint of the session has passed, each bill that has cleared their chamber of origin must now clear the opposite one for a chance to get to the governor’s desk. 

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Virginia Mercury is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Virginia Mercury maintains editorial independence. Contact Editor Samantha Willis for questions: info@virginiamercury.com.