March 19, 2025 by matray

The Doctors Company and ProAssurance Corp. today announced that they have entered into a definitive agreement under which ProAssurance will be acquired by The Doctors Company. The combined company will have assets of approximately $12 billion.

“We are excited to further our mission to advance, protect, and reward the practice of good medicine to an even greater number of healthcare providers across the nation,” commented Richard E. Anderson, MD, FACP, Chairman and Chief Executive Officer of The Doctors Company. “Healthcare is a team sport and the teams are getting larger. In order to provide them the best imaginable service requires a mission-based company with nationwide scale, resources and dedication to all medical professions and healthcare providers. The addition of ProAssurance to The Doctors Company significantly enhances our ability to serve healthcare professionals now and well into the future."

“This transaction will deliver significant value to our shareholders,” said Ned Rand, ProAssurance’s President and Chief Executive Officer. He added, “Both ProAssurance and The Doctors Company were founded by physicians in response to the medical liability crisis of the 1970s. Both companies have grown over the years by bringing together other physician-founded companies. This shared history has helped both companies fulfill our shared mission to protect others and given us similar operating philosophies and cultures. Bringing the strengths and capabilities of our companies together now will allow our teams to continue to serve today’s healthcare providers with the necessary scale and breadth of capabilities.”

The Board of Directors of ProAssurance has unanimously approved the transaction, and resolved to recommend that its shareholders approve the agreement. The transaction is expected to close in the first half of 2026, and is subject to customary closing conditions, including approval by ProAssurance’s stockholders and the receipt of regulatory approvals. The transaction is not subject to a financing condition. Upon completion of the transaction, ProAssurance’s common stock will no longer be listed on the New York Stock Exchange, and ProAssurance will become a wholly owned subsidiary of The Doctors Company.

Houlihan Lokey Capital, Inc. and Howden Capital Markets & Advisory are serving as financial advisors and Mayer Brown LLP is serving as legal counsel to The Doctors Company.

Goldman Sachs & Co. LLC is serving as financial advisor and Simpson Thacher & Bartlett LLP and Willkie Farr & Gallagher LLP are serving as legal counsel to ProAssurance.

March 13, 2025 by matray

The Cooperative of American Physicians (CAP) is celebrating its 50th anniversary this year. Founded in 1975 by a group of nine California physicians, CAP was established to address the escalating costs of medical malpractice coverage through its Mutual Protection Trust (MPT), rated A+ (Superior) by AM Best for 18 consecutive years.

Since its inception, this physician-owned and governed organization has seen remarkable growth in membership and the breadth of services offered. Today, CAP provides exceptional medical professional liability coverage to 13,000 physicians statewide.

“Over the years, CAP has supported tens of thousands of doctors in their mission to provide the highest quality care to their patients while managing successful practices,” said CAP chief executive officer Sarah Scher. “Today, in this continually evolving healthcare landscape, our work is far from finished and our commitment to the success of independent practitioners remains unwavering.”

In addition to their core MPT coverage, CAP physician members receive complimentary risk and practice management services, human resources support, a 24-hour adverse event hotline, access to customized business and personal insurance coverages, a group purchasing program and more.

“CAP is proud to honor a 50-year legacy of providing California physicians with more than just outstanding medical professional liability coverage. Since day one, CAP’s physician leaders have always represented the best interests of its members, ensuring they are well protected and have the resources they need to face challenges head-on,” said CAP president and chair and MPT chair Stewart Shanfield, MD.

To commemorate this milestone anniversary, CAP has published a special edition of Physician Today, its risk and practice management magazine exclusively for private practice doctors. CAP is also hosting several celebratory events across the state, offering free commemorative gifts, and sharing an inside look at the organization’s history and its relevance to California physicians in a series of communications and resources throughout the year. To learn more, visit www.CAPphysicians.com/50Years.

March 7, 2025 by matray

Below are some headlines and article synopses from the March 2025 issue of Medical Liability Monitor. To read the articles in their entirety, please subscribe today.

Primary Care Physicians Concerned About GLP-1 Telehealth Prescriptions
Amid soaring patient demand for GLP-1 weight loss medications such as Ozempic and Wegovy, primary care physicians (PCPs) are raising concerns about patient safety risks associated with third-party telehealth prescriptions of the new drugs. According to a recent survey conducted by the San Francisco-based healthcare consultancy Omada Health, those concerns are growing as telehealth services play an increasing role in prescribing these medications, often without the involvement of the patient’s primary care physician …

Utah Law Letting Minors Revoke Consent Raises Healthcare Chaos Fears
Under a 2023 update to Utah’s Health Care Malpractice Act, minors who consent to “hormonal transgender treatment” or surgery on “sex characteristics” can later withdraw that consent before reaching the age of 25 if they experience a “permanent injury” from the treatment. This provision allows patients to argue that their doctors should have anticipated the patient’s health outcome and subsequent regret, opening the door to new medical liability claims against clinicians …

Candello Report Highlights Magnitude, Costs of Documentation Errors
A recent benchmarking report from Candello — a division of CRICO, the provider of primary and excess medical liability insurance coverage to Harvard-affiliated healthcare institutions — reveals an alarming frequency of documentation errors and how those errors affect the defensibility of negligence claims …

Indigo Update: The AI-Driven MPL Insurer Reports Strong Growth During Inaugural Year
Indigo, the emerging medical professional liability (MPL) insurance platform founded on leveraging artificial intelligence, expanded data and advanced technology to deliver customized coverage pricing for physicians, reports making significant strides since its launch in October 2023 …

Arkansas Bans Phantom Damages, Halves Birth Injury Filing Deadline
Arkansas Gov. Sarah Huckabee Sanders signed two bills affecting the medical liability industry into law last month. Act 28 prohibits phantom damages in lawsuits by limiting recoverable medical expenses to actual costs paid or owed. Act 124 shortens the statute of limitations for birth-injury medical malpractice claims, reducing the deadline for lawsuits from a child’s 11th birthday to their fifth …

N.Y. Gov. Hochul Proposes Physicians Pay Half of Excess Coverage Costs
New York Gov. Kathy Hochul unveiled her Fiscal Year 2026 Executive Budget on Jan. 21. The proposed budget includes a provision reducing state funding for New York’s Excess Medical Malpractice Insurance Program by requiring a 50% copay from covered physicians. This policy change would impose an estimated $40 million cost on approximately 16,000 physicians who currently benefit from this coverage …

Subscribe today to get this issue (as well as the 2024 and 2025 Annual Rate Survey at no additional cost).

March 5, 2025 by matray

The Mutual Risk Retention Group recently announced that its long-serving president and chief executive officer, Gloria H. Everett, will retire after 23 years of leadership. As part of a carefully planned transition, the company has initiated a national search for its next CEO, ensuring a seamless leadership change that aligns with The Mutual’s mission, values and commitment to excellence in the healthcare insurance industry.

Since becoming CEO of The Mutual in 2002, Everett has played a pivotal role in shaping the organization into a trusted leader in risk retention and insurance solutions for healthcare providers. Under her leadership, The Mutual has strengthened its partnership with the physician-led healthcare organization providing acute care management and staffing services Vituity, navigated industry shifts with resilience and positioned itself for future success through strategic innovation and operational excellence.

"Gloria’s leadership has ensured The Mutual’s strength and success for the past 23 years. Her strategic vision and dedication to our insureds has led to the tremendous growth of the organization and excellent care of our clients. Gloria has forged a strong partnership with Vituity, and we are appreciative of the legacy she will leave. On behalf of the Board, we are deeply grateful for her service. The Mutual Board of Directors is launching a search for a new CEO, and we are committed to ensuring a smooth transition that honors the foundation Gloria has created,” said Kelli Westcott, MD, chair of the board for The Mutual.

“Gloria’s leadership has been instrumental in strengthening the partnership between The Mutual and Vituity, ensuring that our clinicians and healthcare teams have the support and protection they need to provide outstanding patient care. Her unwavering dedication, strategic vision, and commitment to our shared mission have left an indelible mark on both organizations. We deeply appreciate her years of service and look forward to working closely with The Mutual’s next CEO to continue building on this strong foundation,” said Theo Koury, MD, Vituity president.

March 3, 2025 by matray

Coverys has appointed Naveed Anwar as its chief financial officer.

Reporting to Coverys President and CEO Joseph G. Murphy, Anwar will oversee strategic initiatives focused on expanding growth opportunities and optimizing capital management to support the company’s long-term sustainability and organizational goals.

Anwar brings more than 25 years of financial experience, including the past decade as a CFO in the medical professional liability (MPL) industry. Throughout his career, he has played a key role in shaping financial performance, enhancing capital management, and transforming financial operations.

Leveraging his expertise in strategic finance, mergers and acquisitions, and leadership, Anwar will oversee corporate finance functions and lead financial analysis to support Coverys’ short- and long-term growth strategies.

Anwar is a member of the Institute of Chartered Accountants in England and Wales and holds a finance and accounting degree from Kingston University in the United Kingdom.

February 21, 2025 by matray

The Doctors Company, part of TDC Group, announced today the promotion of Laura Kline, MBA, CPCU, CIC, to regional operating officer of the Northeast Region.

In her new role, Kline will drive operational excellence across the 26 states located in the Northeast Region and lead teams including Business Development, Underwriting, Claims, and Patient Safety and Risk Management in enhancing member experiences. She is replacing Tammy Clark, who is leaving the company.

Ms. Kline currently serves as senior vice president of business development for TDC Group, with oversight of the national business development team, sales, distribution, agency management, and affinity programs.

"I am thrilled to congratulate Laura on her expanded role at The Doctors Company," said Deepika Srivastava, chief operating officer of The Doctors Company. "She has been a key contributor to our growth and success, serving in many executive roles following an acquisition over 15 years ago. Her extensive experience in healthcare and professional liability insurance and her proven leadership make her very well suited to drive continued excellence in our Northeast Region."

Kline joined the company in 2011 following the acquisition of American Physicians Assurance, where she served as vice president of marketing and president of the alternative risk transfer subsidiary.

"I am very excited to lead the Northeast Region, oversee operational excellence, and ensure growth as we advance, protect, and reward the practice of good medicine," Kline said. "We will continue to serve and advocate for all healthcare professionals as a strong partner for this robust region."

February 14, 2025 by matray

MagMutual Insurance Co. announced a 2.5% dividend return to its policy owners for this year.

With this latest declaration, MagMutual now has awarded 26 years of dividends throughout its company history. During that time, the company has returned $468 million in financial rewards to policyholders since inception, including $167 million paid over the past five years.

“Our impressive record of continuously paying dividends year-over-year is one of the many ways we put our policyholders first,” said William S. Kanich, MD, JD, executive chairperson of MagMutual. “This year marks our 18th consecutive year of dividends and 26th year overall. I’m proud that MagMutual continues to return dividends to the healthcare providers who trust us to protect them.”

”MagMutual demonstrates a high rate of financial strength and growth in our industry. This strength has allowed us to dependably declare dividends for the past 18 years,” said Neil Morrell, chief executive officer of MagMutual. “Our record of supporting policyholders with innovative insurance solutions, risk management services and financial rewards continues to be unmatched.”

February 12, 2025 by matray

LAMMICO was named one of the "Best and Brightest Companies to Work For" in the Nation for 2024 by the National Association for Business Resources. The Best and Brightest Companies to Work For identifies and honors companies that deliver exceptional employment practices and demonstrate an impressive commitment to their employees. An independent research firm assessed the winners, based on categories such as work-life blend, community initiatives and corporate responsibility, employee education and development, diversity, retention and more. This honor marks the tenth time that LAMMICO has received the Best and Brightest Companies to Work For in the Nation designation since 2015.

“Receiving this designation demonstrates the strengths and talents of the team here at LAMMICO. I am thrilled that the Company and its employees are being honored for all that we do for our customers, communities and each other,” said J. Michael Conerly, MD, LAMMICO president and chief executive officer. “We work together toward our shared purpose of protecting those who care for others, and this award celebrates our efforts and achievements.”

LAMMICO is headquartered in Metairie, Louisiana, and has offices in Baton Rouge and Shreveport.

February 7, 2025 by matray

Below are some headlines and article synopses from the February 2025 issue of Medical Liability Monitor. To read the articles in their entirety, please subscribe today.

Oregon Supreme Court to Determine MPL Limits in Non-Patient’s Death
The Oregon Supreme Court last month heard oral arguments in a case seeking to define the limits of medical professional liability in situations involving non-patient third parties. The case, Stone v. Witt, involves Shantel Witt, who, while impaired by prescribed medication, crashed her car into bicyclist Marika Stone. Witt was subsequently convicted of first-degree manslaughter, driving under the influence of intoxicants, unlawful possession of oxycodone and unlawful possession of a Schedule IV controlled substance. She was sentenced to more than 12 years in prison. In addition to suing Witt for civil damages, Stone’s estate filed medical negligence claims against Nancy Brennan, DO, and her employer St. Charles Health System, Inc.; Kevin Rueter, MD, and his employer High Desert Personal Medicine, LLC; and Walgreen Co., doing business as Walgreens Pharmacy …

California AG Issues Advisory on use of Artificial Intelligence in Healthcare
California Attorney General Rob Bonta issued a legal advisory last month to healthcare entities that develop, sell or use artificial intelligence (AI) regarding their obligations under California law. The advisory — Application of Existing California Law to Artificial Intelligence in Healthcare — provides specific guidance for healthcare providers, insurers, vendors, investors and other entities involved in the development, sale and use of AI and automated decision-making systems …

New Mexico Leaders Push for MedMal Reform to Address Physician Shortage
The Democratic governor of New Mexico and the state’s House Republican caucus independently announced last month that addressing medical professional liability costs to attract more healthcare workers to the state would be a priority during the 2025 legislative session. Healthcare workers were identified as the top occupational need in 28 of New Mexico’s 33 counties, according to the most recent data …

Georgia Gov. Kemp Names Tort Reform Top Priority, Threatens to Call Special Session If General Assembly Fails to Act
Georgia Gov. Brian Kemp used his recent State of the State Address to declare tort reform his top legislative priority for the year, warning lawmakers that he would call a special session if they failed to pass legislation curbing the rising costs of civil liability awards. While Gov. Kemp’s office had yet to release specific policy proposals by press time, the insurance commissioner’s report resulting from the Data Analysis for Tort Reform Act — which the governor referenced in his address — provides insight into how the General Assembly might proceed …

Massachusetts High Court Rejects Appeal on ‘High-Low’ Agreement Bias
The Massachusetts Supreme Judicial Court last month upheld a trial judge’s decision to deny a medical malpractice defendant’s request to cross-examine witnesses about a “high-low” settlement agreement reached by two other defendants. High-low agreements set minimum and maximum amounts a defendant will pay the plaintiff prior to the jury rendering a verdict …

Federal Agencies Warn of Private Equity’s Increasing Role in Healthcare
The Federal Trade Commission, Department of Justice and Department of Health & Human Services published a joint report last month detailing concerns about the “new and unique” risks associated with the increasing role of private equity in healthcare delivery. The report, titled “Consolidation in Healthcare Markets Request for Information,” urges the U.S. Congress and state lawmakers to implement stricter oversight, including lowering the financial threshold for reporting mergers and expanding transparency rules for ownership structures in healthcare facilities …

Women, Minorities Bear the Brunt of Medical Misdiagnoses
An estimated 795,000 patients a year die or are permanently disabled because of misdiagnosis. Some patients are at higher risk than others. Women and racial / ethnic minorities are 20% to 30% more likely than white men to experience a misdiagnosis …

Subscribe today to get this issue (as well as the 2024 and 2025 Annual Rate Survey at no additional cost).

January 31, 2025 by matray