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.”