Curi Board of Directors Approves More Than $21M in Financial Distributions to Members, Announces New Board Member

March 24, 2022 by matray

Curi announced that its Board of Directors has approved the largest annual allocations to the company’s Legacy Fund and Member Dividend programs in nearly a decade, signaling significant growth and momentum for the firm and its membership. According to Curi, its Legacy Fund and Member Dividend programs provide a meaningful financial benefit to its members and their practices.

“Last year was a banner year for Curi as we continued to grow geographically and expand the range of products and services that we offer physicians and medical practices,” said Jason Sandner, Curi chief executive officer. “The Legacy Fund and Member Dividend programs are just two of the many ways that we continue to drive toward our mission of helping physicians in medicine, business, and life. We’re proud to share our success back with the physician-members who own this company.”

The Board approved a $14 million allocation to Legacy Fund accounts for 2022, bringing the total allocation to $151.6 million since 2009. The Legacy Fund represents savings accounts for member physicians and medical practices, funded by a portion of Curi’s net income. Cash balances that accumulate in Legacy Fund accounts are paid to account holders upon designated events, including qualifying retirement. Over the last five years, allocations to The Legacy Fund have averaged 10% of annual premium paid.

The Board also approved the disbursement of $7 million for a cash Member Dividend for 2022. Curi has paid out a cumulative $51.7 million in dividends since 2008. Dividends have averaged 5% of members’ annual medical professional liability premium paid over the last five years. These dividends will be paid out to qualifying physicians and practices in April.

Curi members also elected Anuj Gupta, MD, of Peachtree Orthopedics in Atlanta, GA, to the Curi Board of Directors. In addition, Curi’s Jason Newton was named General Counsel and Secretary for all Curi companies.

MagMutual Names Ed Lynch New President, Sallie Graves Chief Operating Officer

March 15, 2022 by matray

MagMutual Insurance Cos. recently appointed two senior leaders to new executive positions.

Ed Lynch, who most recently served as chief corporate development officer, has been named president of MagMutual Insurance Cos. Lynch joined MagMutual in 2012, leading profitable breakout growth, significant national expansion and numerous acquisitions for the company.

Sallie Graves was promoted to MagMutual’s chief operating officer. In more than seven years at MagMutual, where she first served as chief information officer, Graves has been responsible for accelerating the company’s technology transformation and increasing operational efficiency in the organization.

“During their careers at MagMutual, Sallie and Ed have been great leaders who have made noteworthy contributions to help us fulfill our considerable ambitions for product and process improvement and growth,” said Neil Morrell, MagMutual chief executive officer. “We still have much we want to achieve as we expand both our geographic footprint and our services. I am looking forward to working with Sallie, Ed and our entire leadership team as we continue down that path.”

“Our success at MagMutual is due to the collective effort of each and every staff member to constantly improve our already industry-leading service to policy owners,” said Joe Wilson, MD, MagMutual executive chairperson. “Ed and Sallie have developed and led exceptional teams to outstanding achievements at MagMutual. I’m happy to honor and recognize their contributions with these appointments.”

COPIC Medical Foundation Announces 2022 Grant Recipients

March 11, 2022 by matray

The COPIC Medical Foundation announced that — for the second year in a row — its 2022 funding cycle focused on initiatives designed to reduce fragmentation across care settings. A 501(c)(3) nonprofit organization affiliated with COPIC family of companies, the COPIC Medical Foundation supports organizations and initiatives that improve health care outcomes, patient safety and quality of care.

A top concern in patient safety, breakdowns in care from a fragmented healthcare system can lead to readmissions, missed diagnoses, medication errors, delayed treatment, duplicative testing and procedures, and reduction in quality of care leading to general patient and provider dissatisfaction.

The 2022 group of COPIC Medical Foundation grantees include five organizations of varied size and scope that impact healthcare in communities across the country. The COPIC Medical Foundation awarded $680,000 in grant money this year. Grants will support the following projects:

• Bryan Health Connect (Nebraska) to expand Bamboo Health clinical event notification system to additional locations across Nebraska.


• West Mountain Regional Health Alliance (Colorado) for the Community Resource Network West Mountain, a social information exchange platform in western Coloradothat will facilitate a care coordination effort to support individuals experiencing homelessness with coordination by hospitals, health and behavioral health providers, community organizations, and government agencies.


• Providence Portland Medical Foundation (Oregon) and the Oregon Physician Orders for Life Sustaining Treatment (POLST) Registry will partner to build a bi-directional interface which integrates Providence'sEpic electronic health record with the Registry.


• Minnesota Medical Association Foundation's (Minnesota) Project EHCO focuses on the challenge of transitioning youth with medical complexity to adult care.


• Children's Hospital Colorado (Colorado) will implement the ImPACT Navigation Hub, which provides comprehensive care coordination for complex pediatric patients as they transition to adult care.

“The COPIC Medical Foundation is proud to support those in health care who are making a difference and pushing innovative ideas forward,” said Meredith Hintze, Executive Director of the COPIC Medical Foundation. “Our grant funding helps support solutions that can improve patient safety in ways that can be replicated across health care and/or create additional opportunities for expanded applications.”

Medical Liability Monitor March 2022 Issue Highlights

March 7, 2022 by matray

The just-published March 2022 issue of Medical Liability Monitor features the following articles and more. Click here to subscribe today.

Doctors, Politicians Battle Over COVID Disinformation, Standard of Care
A growing number of state medical boards have been pushing back against the minority of healthcare professionals spreading dangerous COVID-19 disinformation and prescribing unproven coronavirus treatments. They are increasingly meeting resistance from conservative lawmakers …

Battle Over California’s MICRA Cap on Noneconomic Damages Heats Up
Consumer advocacy and plaintiff attorney groups are squaring off against physicians and healthcare interests over California’s Medical Injury Compensation Reform Act (MICRA). The 1975 medical liability tort law capped noneconomic damages at $250,000, created a tiered cap for attorney fees, established a one-year statute of limitations and codified periodic payments for jury awards ...

Kentucky Legislators Want to Amend Constitution for Damage Cap
Kentucky lawmakers last month introduced legislation to start the process of amending Section 54 of the commonwealth’s Constitution in order to give the General Assembly authority to limit non-economic damages for personal injury lawsuits and provide statutes of limitation …

Iowa House Advances Bill with Hard Noneconomic Damage Cap
The Labor Committee of the Iowa House of Representatives advanced legislation last month intended to combat the state’s worker shortage by reforming unemployment and tort laws. The bill is divided into two sections: one relates to unemployment insurance and the other would create a $1 million hard cap for noneconomic damages in medical liability and commercial motor vehicle claims. Gov. Kim Reynolds listed medical malpractice reform as a priority in her Condition of the State address in January …

New Report: Medical Liability Programs, Reforms Can Help States Ease Shortage of Rural Healthcare Providers
Many rural communities across the United States lack access to healthcare, but states have tools to help relieve rural care shortages and support healthcare professionals, according to a new report from the Center for American Progress. And the left-leaning public policy research and advocacy organization says medical malpractice programs and reforms can play a significant role in alleviating those shortages …

Subscribe today to get this issue (as well as the 2021 Annual Rate Survey at no additional cost).

MedMal Direct Names Hammett New President & CEO

March 7, 2022 by matray

MedMal Direct Insurance Co. named Marc D. Hammett its new president and chief executive officer, effective March 2, 2022. Hammett succeeds Melodee S. Dixon, who is stepping down to spend more time with family.

According to MedMal Direct, Hammett is assuming the CEO role at a critical time, following the firm's 14% year-over-year revenue growth, a changing reinsurance landscape and an increasingly challenging litigation environment.

“Our board is excited to have Marc expand his responsibilities at MedMal Direct,” said P. Butler Ball, chief executive officer and director of Physicians Trust, Inc., MedMal Direct’s parent company. “He has played a major role in the company's success. He knows the firm, our team members and the business inside and out. His tenure in the industry, his financial background and his relationships within the market makes Marc ideally suited to strategically grow the organization in a disciplined manner. The board has seen him demonstrate his experience, wisdom and depth since 2016. We have every confidence that Marc will be a great team leader and take the firm to the next level.”

Hammett previously served as the MedMal Direct’s chief financial officer and president and chief strategy officer for Physicians Trust since joining the firm.

“I’m honored to follow Melodee and look forward to working closely with our board of directors, all of our team members and partners to achieve our strategic goals,” Hammett said. “Since joining the company in 2016, I have been involved in all facets of the business and am more confident than ever in MedMal Direct’s strategic growth opportunities and potential.”

“I believe that stepping down and concentrating on my family is the right decision at this time,” said outgoing CEO Melodee S. Dixon. “This was a difficult decision for me given the many opportunities I see and my confidence in the company. However, it was the right one for me personally. I’ll work through a time of transition to ensure excellent service to our policyholders and wish Butler, Marc and the entire team success as they continue to grow the business. My work here over the last five years has reinforced my belief that the talented team will position the company to grow and thrive.”

Medical Liability Monitor February 2022 Issue Highlights

February 7, 2022 by matray

The just-published February 2022 issue of Medical Liability Monitor features the following articles and more. Click here to subscribe today:

N.Y. Executive Budget Proposal Would Cut Judgment Interest Rate, Alter How State’s Excess Insurance Program Is Funded
New York Gov. Kathy Hochul unveiled her 2022-2023 Executive Budget last month, which includes a more than $10 billion, multi-year investment in the state’s healthcare system. It also contains two proposals that would affect the medical liability community …

Florida Supreme Court Amends Rules for Appellate Review of Punitive Damages Claims
The Florida Supreme Court approved last month an amendment to the state’s rule of appellate procedure, a change that opponents say could end punitive damages in liability lawsuits. ...

California Expands Recoverable Damages In Survival Actions
A new California law makes significant changes to survival actions and wrongful-death liability claims, and to the types of damages that can be recovered for them …

Merger Leads to Improved Quality, Safety at NYU Langone Hospital
In-hospital mortality rates dropped by 33% at a hospital serving one of the highest Medicaid populations in the country after its 2016 merger with NYU Langone Health, showcasing how properly managed mergers can improve quality of care, a new study finds …

Tennessee HCLA Applies to Medical Battery, Intentional Misrepresentation
The Tennessee Supreme Court ruled last month that the state’s Health Care Liability Act (HCLA) applies to lawsuits based on theories of medical battery and intentional misrepresentation for injuries arising from a surgical procedure …

Subscribe today to get this issue (as well as the 2021 Annual Rate Survey at no additional cost).    

MagMutual Announces 2022 Policyholder Dividend

February 2, 2022 by matray

MagMutual Insurance Co. announced today that it will return a 5% dividend to its policy owners this year. According to the company, this payment marks 23 years of dividends and more than $340 million in financial rewards returned to policyholders since inception.

"Despite challenging circumstances, MagMutual has been on an exciting trajectory, with the creation of new products, industry-leading financial results and significant growth," said Neil Morrell, MagMutual CEO. "When we do well, our policy owners benefit. We are pleased to once again deliver consistent returns to them and at the same time significantly improve our overall results."

New York County Medical Society Renews Exclusive Endorsement with The Doctors Company

February 1, 2022 by matray

The New York County Medical Society (NYCMS) today announced it has again chosen The Doctors Company to be the exclusively endorsed medical liability insurer for its members.

“The Doctors Company is the ideal choice for our endorsement, as they are founded and led by physicians and owned by members,” said Keith A. LaScalea, MD, FACP, president of NYCMS. “Our members retain a partner whose mission — to advance, protect, and reward the practice of good medicine — is aligned with our mission to strive for the achievement of the highest standards of medical practice and quality of care."

Under the partnership, NYCMS members:

• Benefit from some of New York’s most competitive rates for medical malpractice insurance. And if they’re affiliated with Hospitals Insurance Co., they have access to even more significant savings.


• Receive numerous benefits from The Doctors Company, such as the state’s most aggressive defense, 24/7 patient safety and risk management services, free live and on-demand CME and access to the Section 18 New York State excess risk management program.


• Participate in the Tribute^® Plan, which rewards eligible doctors for their loyalty and commitment to superior patient care, and may receive dividends.

“Our continued partnership with NYCMS reflects TDC Group's growing strength in the New York market,” said Tammy Clark, CPCU, The Doctors Company senior vice president and regional operating officer. “Since expanding its presence in New York in 2017, TDC Group has grown to 21,412 New York physician members and $292 million in direct written premiums.”  

Alera Group Enhances Risk Management Industry Expertise with Acquisition of Heritage Risk Management

January 21, 2022 by matray

Alera Group, an independent, national insurance and wealth services firm, announced the acquisition of Heritage Risk Management, a network of independent risk management agencies that serve clients throughout Texas, Oklahoma, Colorado and New Mexico.

“At Heritage Risk Management, our independent agencies are able to stay close to clients and deliver personalized, comprehensive risk management solutions. With 178 years of shared experience between our network agencies, we bring extensive knowledge in developing tailored property and casualty insurance solutions for our clients,” said Jeff Neely III, Heritage Risk Management co-chief executive officer.

Heritage Risk Management’s network of independent risk management agencies offer a broad array of products and services, tapping into a deep well of expertise from across the organization to offer thought leadership in risk management across a myriad of industries including Agriculture, Banking, Oil & Gas, Construction, Transportation, Professional Services, Technology, Manufacturing, Healthcare, Medical Malpractice and Employee Benefits.

“Heritage Risk Management offers expanded support services and strong carrier relationships to meet client’s needs. As an integrated risk management provider, Heritage Risk Management has all the capabilities needed to deliver the best protection possible and their collaborative culture makes them an excellent fit for Alera Group,” said Alan Levitz, Alera Group chief executive officer.

The Heritage Risk Management team will continue serving clients in their existing roles. Terms of the transaction were not announced.

MICA Announces $17 Million in Dividends

January 18, 2022 by matray

The Mutual Insurance Company of Arizona (MICA) recently announced $17 million in dividends to be allocated among active policyholders as of Dec. 31, 2021. According to MICA, the dividend derives from a combination of favorable claims experience and strong investment performance.

“As a physician-owned and directed mutual insurance company, MICA is able to return funds to our members whenever results are favorable. This year’s dividend exemplifies MICA’s financial strength and dedication to its mission of protecting and defending the practice of medicine,” said James F. Carland, MD, MICA chief executive officer.

The dividend will be distributed in the February, after which MICA will have returned $700 million in dividends to its policyholders since 1988, including $125 million in the last five years alone.