March 18, 2020
byNJ PURE announced a partnership reinsurance contract with General Reinsurance Corp., a member of the Berkshire Hathaway family of companies. Gen Re has an A++ (Superior) rating from A.M. Best Co. and has over $17.75 billion in assets. "All of our policyholders may now take added comfort in knowing that… Continue reading...
March 12, 2020
byMagMutual Insurance Company today announced it will be returning a 7% dividend to its PolicyOwners. This marks the thirteenth consecutive year that the company has paid dividends. Since its inception, the company has returned more than $293M in financial rewards to its PolicyOwners, according to MagMutual. “MagMutual is owned by… Continue reading...
March 12, 2020
byOfficial statement from the Medical Professional Liability Association on coronavirus and its upcoming, May 6-8, Conference in Washington, D.C. "The MPL Association has been having extensive discussions and consultations with Association members and leadership and other valued sources of information as well as actively monitoring developments related to the coronavirus.… Continue reading...
March 2, 2020
byBerxi, part of Berkshire Hathaway Specialty Insurance, recently announced that it has entered into a strategic alliance with Vizient Insurance Services, LLC, a subsidiary of Vizient, Inc., to offer medical malpractice insurance products to Vizient member allied health professionals through an enhanced digital experience. The agreement with Vizient, a member-driven… Continue reading...
February 28, 2020
byThe promise and potential risks of machine learning and other technology will be examined by experts at the 29th Healthcare Risk Management / Patient Safety Conference on Wednesday, March 11, at the New York Marriott Marquis. 2020 Healthcare Technology—Friend or Foe is hosted by Healthcare Risk Advisors (HRA), a business… Continue reading...
February 26, 2020
byAM Best has downgraded the Financial Strength Rating (FSR) to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” from “aa-” for the members of ProAssurance Group. The outlook of the FSR has been revised to stable from negative whilst the outlook for the… Continue reading...
February 26, 2020
byAM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” from “a” for the members of NORCAL Group (NORCAL). Concurrently, AM Best has maintained the under review status on these Credit Ratings (ratings) and revised… Continue reading...
February 20, 2020
byProAssurance Corp. and NORCAL Group announced today the signing of a definitive agreement under which NORCAL would become a part of ProAssurance in a $450 million transaction following the demutualization of NORCAL Mutual Insurance Company (NORCAL Mutual), NORCAL's ultimate controlling party. The demutualization and the acquisition agreement are mutually contingent,… Continue reading...
February 19, 2020
bySpecialist insurer Beazley has enhanced its Virtual Care insurance policy in the United States to offer greater protection for the providers of technology-enabled healthcare and lifestyle management services. The rapidly growing global digital health market is estimated to reach a value of $504 billion by 2025 and includes telehealth, which… Continue reading...
February 19, 2020
byCOPIC announced that five members of the company’s management team were recently promoted to Senior Vice President positions. The promotions include the following people: • Kristin Stepien—Senior Vice President, Sales and Business Development • Janel Loud-Mahany—Senior Vice President, Underwriting and Policyholder Services • Beverly… Continue reading...