February 11, 2019 by matray

Feb 7, 2019--Medmarc Insurance Group, a subsidiary of ProAssurance Corp., and Pharmacists Mutual Group announced a strategic alliance to package industry-specific insurance coverages to the life sciences companies.

Insurance brokers who place their medical technology clients with Medmarc will now have access to Pharmacists Mutual for property, general liability, commercial auto, workers compensation, umbrella and employment practices liability policies through Hamilton Resources Corp., Medmarc’s in-house insurance agency.

"We are thrilled to enter into this relationship with Pharmacists Mutual," said Ned Rand, president, chief operating officer of ProAssurance and president of Medmarc. "Medmarc has focused for 40 years on providing products liability and manufacturers E&O insurance products and services to medical technology companies, and it is important for us to be aligned with a well-respected carrier such as Pharmacists Mutual to offer our brokers and insureds competitive commercial insurance products tailored to the life sciences industry.”

"We are very pleased to be celebrating Medmarc’s 40th Anniversary with the joint announcement of our alliance to provide a wide range of insurance products to Medmarc’s insureds," said Ed Yorty, Pharmacists Mutual president and CEO. "Pharmacists Mutual was founded over 100 years ago to offer insurance protection to members of the Iowa Pharmacy Association. We have since grown to become a leading national insurer dedicated to serving the needs of our members in selected healthcare markets. We look forward to providing Medmarc’s distribution partners and insureds with the same level of service and dedication they have come to expect from with Medmarc.”

“Both Medmarc and Pharmacists Mutual have long histories of creating insurance products and services that meet the unique needs of healthcare innovators and professionals dedicated to saving lives and improving the quality of life in local communities and around the world,” said Karen Murphy, the executive vice-president of Medmarc and head of life sciences for ProAssurance. “Through our new alliance, we will offer a broad array of tailored insurance coverages supported by dedicated teams of underwriting, claims and risk management professionals — providing innovative companies with innovative solutions.”

Brokers may obtain a proposal today at www.medmarc.com/apply or by calling 800.356.6886 ext. 1360.