January 6, 2023 by matray

AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of MLMIC Insurance Company (MLMIC) (Albany, NY). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect MLMIC’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings benefit from the financial support provided by MLMIC’s direct parent company, National Indemnity Company, which is ultimately owned by Berkshire Hathaway Inc.

MLMIC has a long track record of favorable reserve development and adequate underwriting returns. In the past four years, net operating results have been skewed somewhat by a 100% loss portfolio transfer (LPT) and an 85% quota share agreement with National Indemnity Company, which were executed in 2018. As a result, favorable reserve development related to accident years covered by the LPT (for all business written prior to the acquisition by National Indemnity Company in 2018) no longer benefits MLMIC’s underwriting results. The pace of favorable reserve development was likely further slowed by the impact of the COVID-19 pandemic on the New York court system, which reduced the speed with which claims were closed and delayed the recognition of possible favorable reserve development on more recent accident years that are not covered under the LPT. As a result, the company’s net underwriting results in the most recent years have not yet benefited from the same degree of reserve releases seen in previous years. The gross underwriting results remain in line with historical trends, however, and further support the current operating performance assessment of adequate. Over time, AM Best expects that MLMIC’s calendar year underwriting results will continue to improve and approximate the company’s historically stronger results.

MLMIC’s insurance portfolio is concentrated in the medical professional liability line of business. The company underwrites risks only within New York, which is one of the nation’s most challenging and litigious markets for medical professional liability. However, management has been able to operate successfully through underwriting cycles while maintaining MLMIC’s leading market position within New York. In addition, risk management capabilities have proven appropriate for the company’s risk profile.  

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 last month. Ohio incurred the most expensive medical liability reports during the 10-year period with 2,325 medical liability filings costing its healthcare industry more than $853 million, while New York ranked No. 40 with a total costs to its industry at $6.85 million …

Alaska Supreme Court Overturns Law Limiting Awards in Some Medical Malpractice Cases
The Alaska Supreme Court determined last month that a 1976 law limiting financial awards in medical liability lawsuits for Alaskans with health insurance is unconstitutional. The statute at issue, AS 09.55.548(b), provided that when a medical malpractice claimant’s losses have already been compensated in part by a collateral source, such as a health insurer, the claimant’s damages award will be reduced by the value of the collateral source compensation, except when the collateral source is a “federal program that by law must seek subrogation” …

Favorable Reserve Development for MPL Specialty Insurers During Third Quarter
Medical Liability Monitor’s quarterly analysis conducted by Milliman Inc. indicates the MPL industry reported a cumulative favorable development through the third quarter of approximately $22 million on reserves related to prior years. This reflects an improvement relative to the same point in 2021 and 2020 through the third quarter. Third-quarter 2021 saw $200,000 of adverse reserve development, while third-quarter 2020 saw adverse reserve development of nearly $40 million. This favorable reserve development further supports our anticipation that the 2022 annual financial results will also reflect some reserve redundancy. However, how much reserve redundancy remains uncertain …

Ohio Supreme Court Chips Away at Vicarious Liability Claims
The Ohio Supreme Court ruled last month in Clawson v. Hts. Chiropractic Physicians that if a physician cannot be held directly liable for malpractice, then a lawsuit seeking to hold the physician’s employer vicariously liable must be dismissed. In a 4-3 decision, the Supreme Court dismissed a medical liability lawsuit filed by a patient of a Montgomery County chiropractic firm. The decision reversed a ruling by the Second District Court of Appeals, which held that Cynthia Clawson could sue Heights Chiropractic Physicians despite her malpractice claim against the chiropractor who allegedly harmed her having been dismissed as untimely ...

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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 delivers a progressive platform that uses Active Risk Assessment, Active Protection and Active Response to alter how healthcare professionals manage cyber threats,” said Michael Roque, Positive Physicians chief executive officer. “Coalition's advanced technology allows businesses to reduce digital risk by monitoring and responding to digital risks 24/7, making cyber insurance in the MPL industry no longer a reactive coverage. This is yet another partnership cementing our vow to identify and incorporate Insurtech solutions that will reshape how the MPL Industry transacts business.

“Cyber Insurance is often an afterthought in the MPL space, with coverage only triggering when an adverse event occurs,” Roque continued. “But as digital risk increases and evolves, so must the coverage available for healthcare providers. Coalition actively provides ongoing protection and services. This partnership gives our insureds access to affordable enhanced coverage options that will significantly help mitigate the digital risks they face daily.”

Founded in 2017, Coalition provides an integrated approach for companies to manage cyber risk. Coalition’s Active Insurance offering provides small and midsize companies with cyber security tools, active monitoring, and anytime access to digital forensics and incident response services, combined with insurance coverage provided by well-known insurance carriers.    

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 within the insurance industry, make him the ideal candidate to lead our Management Liability, Financial Institutions and Healthcare businesses," said Doug Worman, executive vice president and global head of underwriting.

Goldman brings to CNA more than 20 years of insurance experience, serving in various leadership positions at AIG, ACE and Chubb. He holds a Bachelor's in economics degree from The Wharton School at the University of Pennsylvania, and obtained his J.D. from the New York University School of Law.

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 instrumental in completing and rolling out the physician’s program, according to NOW Insurance. He brings more than 30 years of experience and leadership in medical professional liability insurance with extensive knowledge in underwriting and creating innovative healthcare products and services.

As director of underwriting for allied healthcare, Ernest will oversee allied healthcare medical professional underwriting, work closely with engineering in the development of underwriting systems and manage carrier capacity.

“The combined experience of Patrick and Chris will be a powerhouse for NOW Insurance. These are two crucial roles for the company, and I couldn’t be more pleased with these additions to the team,” said Phil Cabaud, CEO of NOW Insurance. “Patrick has a great reputation in the industry and has been part of the evolution of healthcare liability insurance for over 20 years, while proving his aptitude for creative problem solving. Chris has the ability to analyze and organize data, then also understands how use those insights to inform underwriting decisions. As NOW Insurance continues to expand our distribution network, products and services, we look forward to further developing our platform with the leadership of Patrick and Chris.”  

November 30, 2022 by matray

EmPRO Insurance Co. announced today that its education program for physicians has won international recognition with three new awards. These are the first awards for EmPRO, adding to the 17 awards previously achieved by its parent, Physicians’ Reciprocal Insurers.

The winning 5 CME credit program, “A Day in the Life of the CME at Blue Sail Insurance Company,” launched in 2021 and has been completed by thousands of physicians. During the program, the learner selects both an avatar and a mentor and travels via a virtual elevator from department to department in a virtual company. The course concentrates on demystifying insurance companies, enhancing understanding of underwriting principles, connection to patient safety risk, examining risk in physicians with one or more claims, understanding cognitive bias/interviewing/autopsy in the provision of safer patient care and strengthening physician well-being.

“Our physician education programs are unique,” said Gerri Donohue, EmPRO vice president of education. “The caliber of our courses reflects decades of development with leading academics. We offer programs that provide physicians with world-class education that serve to strengthen clinical reasoning skills, improve communication within the patient/physician relationship and ultimately enhance patient safety.”

The three international awards for which EmPRO has been recognized are:

2022 Brandon Hall Silver Award: Best Customer Training
The Brandon Hall Group is the global preeminent research and analyst organization focused on developing research-driven solutions to drive organizational performance for emerging and large organizations.

2022 Apex Award in Education and Training.
Apex is an international award put forward by Communications Concepts, Inc., an advisory firm focused on business communications best strategies and practices.

2021 LearnX Gold Award – Learning & Development and Customer Experience
Each year Learnx awards projects and solutions that deliver best practices and business value across the world, recognizing commitment, enthusiasm and passion for learning technologies that move the world forward.

“We have built EmPRO into a world-class physician resource,” said Bruce Shulan, CEO and president of EmPRO. “I am gratified to see the dedication of our medical education team continue to be recognized by the industry.”

Over the past three years, EmPRO has developed several programs for its Physician Peer Support curriculum including Women in Medicine, Mindful Practice in Medicine, Simple Practices for Complex Times and Narrative Medicine.

• Women in Medicineprovides a confidential community space for physicians to discuss the unique challenges and common experiences they face every day.


• EmPRO’s Mindfulness Practice and Writing Programare intertwined self-reflective courses that ask medical professionals to step outside themselves and examine their thoughts, motives, and reactions to their highly stressful, emotionally-charged profession.

November 22, 2022 by matray

AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to West Virginia Mutual Insurance Company (WVMIC) (Charleston, WV). The outlook assigned to these Credit Ratings (ratings) is stable. 

The ratings reflect WVMIC’s inclusion as a member company under MAG Mutual Holding Co. (MAG Mutual), which has a consolidated balance sheet strength of strongest, as well as adequate operating performance, a neutral business profile and appropriate enterprise risk management.

The ratings also reflect the explicit support provided to WVMIC through the implementation of a reinsurance pooling agreement with MAG Mutual Insurance Co., the lead company of MAG Mutual.

WVMIC has been a wholly owned subsidiary of MAG Mutual since Nov. 1, 2020, and currently underwrites medical professional liability insurance for physicians and physician networks in West Virginia.

November 17, 2022 by matray

The Doctors Company announced today that it is offering a new lecture series, Financial and Workplace Well-Being for Doctors: Lessons for Life After Medical School, from Ronald H. Wender, MD, FACA, chairman emeritus and professor of anesthesiology at Cedars-Sinai Medical Center and member of The Doctors Company Board of Governors. This free, academic lecture series is designed to help doctors take control of their financial and workplace well-being, so they can focus on what they do best — providing superior patient care.

“The Doctors Company is proud to partner with Cedars-Sinai Medical Center to offer this lecture series to newly practicing physicians,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company and TDC Group. “It is in our mission to serve those who provide care, and we anticipate all physicians will find this series valuable.”

In response to a 2021 California Medical Association survey that found 64% of physicians expressed a desire for financial guidance, and 95% of physician practices reported concern about their financial well-being, the 23-part video series provides expert advice on the realities of financial planning, medical malpractice and hospital economics that physicians encounter upon graduating medical school.

“When you leave medical school, you need to be prepared for managing debt, finances and patients who may sue you; we want medical providers to be ready for these harsh realities,” Wender said. “In my forty-six years of practice, I saw many healthcare providers overwhelmed with life challenges. I hope this will be a useful resource for new physicians in their future endeavors.”

Each lecture includes a question/answer addendum section with supplemental information.

November 16, 2022 by matray

Paul Greve, JD, RPLU, Sr. Director, Markel has been awarded the winner of the 2022 PLUS Founders award at the 35th annual PLUS Conference, held November 8-11 in San Diego, CA.

The Founders Award recognizes a member of PLUS who has made lasting and outstanding contributions to Society. The award is presented in honor of PLUS Founder Angelo J. Gioia. Criteria used when selecting the Founders Award recipient include membership in PLUS, participation in PLUS activities, creativity and innovation when needed to address PLUS tasks, amount of time and effort dedicated to the organization, promotion of PLUS in the industry and to the public in general, or other contributions to the image of PLUS, and involvement in developing, implementing, improving and/or continuing PLUS programs.

Greve was chosen for this prestigious award for his 20 years of experience as an administrator, risk manager and attorney for major hospitals in Ohio, including Cleveland Clinic, University Hospitals of Cleveland, Columbus Children’s Hospital and St. Luke’s Hospital in Cleveland. Paul also has 20-plus years’ of experience in the healthcare professional liability insurance industry as a broker and consultant.

He has also worked for two healthcare professional liability insurance companies including MedPro Group and Markel Specialty. Paul worked for Willis for 19 years. He is the Past President of the Ohio Society of Hospital Risk Managers and holds the designation of Distinguished Fellow of the American Society for Healthcare Risk Management in addition to the RPLU designation.

Greve has authored many articles on medical professional liability and risk management and contributed to medical textbook chapters and legal journals. He has spoken at many healthcare professional liability insurance industry conferences, including PLUS. He co-chaired the first PLUS Medical Professional Liability Symposium. Paul has contributed many articles to the PLUS Journal and has served on the PLUS Editorial Board.

“Paul is incredibly deserving of this award,” said Robbie Thompson, CEO of PLUS. “His contributions to PLUS extend deep and he has been a key contributor in developing content and programming for PLUS events for many years. We’re honored to have him accept this award and recognize his commitment to PLUS.”

November 15, 2022 by matray

COPIC hired Ted Tzeng to be its new chief information officer (CIO). A strategic technology executive with demonstrated success transforming business through product development, IT automation and data-driven solutions, Tzeng previously led high performing teams to build innovative customer experiences, according to COPIC. He holds a bachelor of science degree, business and economics from Lehigh University and is PMP certified.