MagMutual Announces 6.5% Dividend

January 31, 2023 by matray

MagMutual Insurance Co. announced it will return a 6.5% dividend to its policyholders this year. According to the Atlanta-headquartered insurer of medical liability, the payment marks 24 years of dividends and more than $370 million in financial rewards MagMutual has returned to policyholders since its inception — with more than… Continue reading...

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AM Best Assigns “A” Credit Ratings to MMIC Risk Retention Group, Inc.

January 25, 2023 by matray

AM Best has assigned a Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” to MMIC Risk Retention Group, Inc. (MMIC RRG). The outlook assigned to these Credit Ratings is stable. MMIC RRG is a sponsored risk retention group of Constellation, Inc., the parent company… Continue reading...

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AM Best Removes From Under Review with Positive Implications, Upgrades Credit Ratings of MDAdvantage Insurance Co. of New Jersey

January 24, 2023 by matray

AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to “a+” (Excellent) from “a-” (Excellent) of MDAdvantage Insurance Co. of New Jersey (MDAdvantage) (Lawrenceville, NJ). The outlook assigned to these Credit… Continue reading...

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Mutual Insurance Company of Arizona Declares $15 Million Dividend

January 17, 2023 by matray

The Mutual Insurance Company of Arizona (MICA) recently announced that its Board of Trustees has declared a policyholder dividend of $15 million to be allocated among current members as of Dec. 31, 2022, the record date. The dividend will be distributed in February 2023. For policyholders insured by MICA for… Continue reading...

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Medical Liability Monitor January 2023 issue highlights

January 9, 2023 by matray

Below are headlines and article synopses from the January 2023 issue of Medical Liability Monitor. To read the articles in entirety, please subscribe today. Medical Professional Liability Premium Growth Slowed in 2022 The medical professional liability insurance industry experienced double-digit premium growth in 2021, driven by firmer pricing and a… Continue reading...

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Mutual Insurance Company of Arizona Announces Executive Leadership Changes

January 9, 2023 by matray

Mutual Insurance Co. of Arizona (MICA) recently announced the following leadership changes in anticipation of retirements at key positions. Effective Jan. 16, 2023, Sherry Haworth joins MICA as its senior vice president and chief operating officer. Haworth was most recently at PLICO, a MedPro Group/Berkshire Hathaway Co. that specializes in medical… Continue reading...

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Medical Liability Monitor December 2022 issue highlights

December 12, 2022 by matray

Study Shows Wide Variance Among States’ Malpractice Costs Physicians, nurses and healthcare workers in the state of New York suffered the largest number of medical malpractice lawsuits filed between 2012 and 2022, while those in Wisconsin experienced the fewest filings during the same period, according to a study published online… Continue reading...

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Positive Physicians Insurance Co., Coalition Announce Partnership to Offer Cyber Insurance Coverage

December 9, 2022 by matray

Positive Physicians Insurance Co. announced today that it has partnered with Coalition, an “Active Insurance” provider designed to prevent digital risk before it strikes, to provide Positive Physician’s insured physicians and healthcare providers with competitively priced and broader coverage options. “Coalition is a globally recognized provider of cyber insurance that… Continue reading...

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CNA Appoints Steve Goldman to Senior Vice President, Financial Lines and Healthcare

December 6, 2022 by matray

CNA announced the appointment of Steve Goldman to senior vice president of financial lines and healthcare. In this role, Goldman will guide the strategic and operational plans across these product lines. "Steve's proven track record of performance across all facets of the financial lines portfolio, and his deep leadership experience… Continue reading...

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NOW Insurance Makes Two Executive New Hires: Patrick O’Doherty and Christopher Ernest

December 6, 2022 by matray

NOW Insurance, a full-stack, AI-enabled commercial insurance platform specializing in medical professional liability coverage, announced today the hiring of two new executives: Patrick O’Doherty as executive vice president of underwriting and Christopher Ernest as director of underwriting for allied healthcare. Both are new roles for the company. O’Doherty will be… Continue reading...

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