August 8, 2018 by matray

Editor's note: the following call to action is from Protect Patient's Now, a national advocacy coalition working to enact medical liability reform at the federal level.

August 6, 2018 by matray

A.M. Best has upgraded the Long-Term Issuer Credit Rating to “a+” from “a” and affirmed the Financial Strength Rating of A (Excellent) of MAG Mutual Insurance Company (Atlanta, Ga.) and Professional Security Insurance Company (Scottsdale, Ariz.), collectively known as MAG Mutual Group. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect the MAG Mutual Group’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The balance sheet strength is supported by strongest risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), historically favorable loss reserve development, modest financial leverage and history of organic surplus growth. In addition, liquidity is adequate and supported by an invested asset base that predominantly consists of high-quality fixed-income securities. A.M. Best considers MAG Mutual Group’s operating performance to be adequate when measured on a pre-dividend combined ratio and operating ratio basis. However, significant challenges exist due to changes in U.S. health care and its effects on this organization’s mix of business and earnings prospects. Despite the challenges, the group produced pre-tax operating profits in each of the past five years, as investment income supported policyholder dividends. The business profile assessment reflects the group’s standing as a regional medical professional liability (MPL) insurance provider operating primarily in the Southeastern United States. Although the group remains heavily concentrated in the MPL sector, management’s diversification efforts in recent years have allowed the group to take advantage of new business opportunities in an otherwise challenging business environment. Nevertheless, the concentration of risk in MPL insurance exposes the group to changes in the U.S. health care system, judicial climate, regulatory environment and state tort reform laws. With regard to its ERM, the group has a framework to identify and manage various different types of risks, a process A.M. Best views as appropriate for its risk profile. Further positive rating action could result if the group’s underwriting results were to improve relative to peers while maintaining a balance sheet strength assessment at the strongest level as the group manages through the current challenging market cycle. Negative rating action could result if material adverse development were to emerge that negatively impacts underwriting profitability and leads to deteriorating operating performance.

August 2, 2018 by matray

July 25, 2018 by matray

Qualified reproductive endocrinologists and infertility specialists (REIs) and their in vitro fertilization (IVF) labs who are members of The Doctors Company are eligible for the REI Protect Program, a highly specialized risk management program founded by Steven L. Katz, MD, a specialist in this field for more than 20 years.

REIs face unique medical malpractice risks because they are focused on the very specialized practice of IVF. To assist in managing these risks, The Doctors Company is partnering with REI Protect to provide the following services to qualified physicians and their labs:

• Direct access to the program for immediate consultation, 24 hours a day, 7 days a week—at no additional cost.
• Ongoing access to specific REI risk management webinars and state-of-the-art topic discussions.
• Comprehensive medical malpractice insurance coverage for the individual physicians, entity, and IVF lab employees, directors, and embryologists. Coverage for advanced practice providers and ancillaries is also available.
• Specialized underwriting and pricing with appropriate specialty classification.

“We created the program to meet the risk management needs of the rapidly developing field of infertility medicine,” Katz said. “IVF labs face unique risks with respect to fertilization, embryo culture, and the storage of cryopreserved sperm, eggs, and embryos. This partnership brings together intimate and expert knowledge of the REI field and IVF lab with The Doctors Company’s 40-plus years of expertise in claims prevention and claims management.”

“This program strongly aligns with our mission to advance the practice of good medicine,” said Laura Kline, senior vice president, business development, The Doctors Company. “By offering these services, we help physicians reduce the risk of laboratory and medical errors. Our eligible members will receive risk management services that originate with incident prevention but extend through incident assessment and problem resolution.”

July 25, 2018 by matray

Physicians' Reciprocal Insurers (PRI), a medical malpractice insurer in New York State, announced the renewal of a long-standing cooperative agreement with the Coalition of Asian-American IPA (CAIPA). Under the agreement, CAIPA members who are currently insured through PRI, and new members who sign up for medical malpractice coverage, can take advantage of significant discounts off standard rates. PRI offers CAIPA members a 15-percent discount on PRI premiums, and those medical professionals who meet qualifications could receive discounts of up to 39 percent in total. CAIPA is one of the largest Independent Practice Associations in New York City, with more than 1,000 members. CAIPA professionals care for more than 450,000 patients in the region. "CAIPA has been a valued partner to PRI for many years. Renewing our commitment to this highly-respected organization will allow us to continue to provide world-class malpractice insurance to the physicians and medical professionals who rely on our strength," said Bruce Shulan, CEO of PRIMMA, PRI's wholly owned Attorney-in-Fact. "We welcome our returning CAIPA members, and look forward to adding more in the coming months."

July 23, 2018 by matray

The NORCAL Group Foundation, dedicated to improving healthcare in local communities, is pleased to announce its Spring 2018 grant recipients. Six organizations have been awarded funding for initiatives and programs focused on patient care, patient safety and physician wellness:

• Asian Health Services  of Oakland, CA

• Indian Doctor’s Club Charitable Foundation, Inc.  of Houston, TX

• Northeast Valley Health Corporation of San Fernando, CA

• St. Anthony Foundation of San Francisco, CA

• The Southwest Florida Free Pain Clinic of Fort Myers, FL

• University Faculty Associates of Fresno, CA

“There are so many opportunities to impact healthcare in local communities,” said Joy Corso, president of the NORCAL Group Foundation. “The work our grant recipients are doing is a great example of meaningful efforts to improve local healthcare for both patients and physicians, and we are very proud to support these endeavors.”

One such endeavor is the FRESNO Project through the University Faculty Associates. This sleep study program identifies factors that lead to excessive fatigue of physicians in the residency program, with the goal of improving the well-being of practitioners—ultimately improving wellness and patient care.

“The generous grant from NORCAL Group Foundation will enable us to expand The FRESNO Project pilot program to all residency and fellowship programs at UCSF Fresno, with the hope to be a model to address physician fatigue across the country,” said Lynn Keenan M.D., clinical professor at UCSF Fresno. “Physician fatigue from sleep deprivation or sleep disorders has been shown to adversely impact learning, judgment, and quality of life.”

Established in 2017, the NORCAL Group Foundation supports improving healthcare in local communities through grant giving focused on patient care, patient safety and physician wellness.  The Foundation is a non-profit organization established by NORCAL Mutual Insurance Company. For more information on eligibility and giving cycles, please visit www.norcalgroupfoundation.org.

July 16, 2018 by matray

The Doctors Company today announced the selection of Kerin Torpey Bashaw, MPH, BSN, RN, as senior vice president of patient safety and risk management. Bashaw reports directly to Bill Fleming, chief operating officer.

Bashaw brings more than 20 years of experience to her new role. She has held a variety of positions in healthcare organizations, most recently as corporate vice president of quality for Verity Health Systems in Redwood City, Calif. At Verity, she led the design and implementation of a new evidence-based quality and safety program. She has also served as system vice president of quality for Alameda Health System in Oakland, Calif. She has held other positions as patient safety officer; director of clinical services and operations; and director of accreditation, quality and safety.

“We are extremely pleased that Kerin is leading our patient safety and risk management efforts, which are key to advancing the practice of good medicine,” said Fleming. “Her extensive background in patient safety, risk management, quality, accreditation and operations will support her nationwide team’s focus on utilizing data, measuring quality and delivering service and value to our members.”

“I am truly honored to join a company with a national footprint, history of leadership in the risk and patient safety space and a mission-driven team dedicated to serving and supporting its members,” said Bashaw. “Another quality that attracted me to The Doctors Company is its expertise in healthcare transformation. The company is known nationally for how it supports and guides members through innovation and change.”

Bashaw holds a Master of Public Health degree from Yale University and a bachelor’s degree in nursing from Georgetown University. She served as a first lieutenant in the U.S. Army Nurse Corps and volunteered for active duty in Operations Desert Shield and Desert Storm.

July 16, 2018 by matray

CMIC announced today that Garrett P. Cronin has joined the CMIC Group team as its new director of underwriting. 

Prior to joining CMIC, Cronin worked for Chubb Corp. as a national underwriting manager within their Chubb Specialty Business. His background and focus for the past 25 years has been in underwriting of healthcare, public and private management liability commercial business as well as financial institutions.

“Garrett’s robust underwriting experience and expertise will be a tremendous asset to our policyholders as CMIC continues to provide competitive coverage options in a challenging marketplace,” said Stephen J. Gallant, chief executive officer of CMIC Group.

In 1991, Cronin began his insurance career at Travelers working with national accounts in their Managed Care Enrollment Division. In 1994, he worked for Berkshire Hathaway/General Reinsurance in the Alternative Risk Market handling various reinsurance treaties. Following that, he worked for Berkshire's specialty group in New York where he underwrote and managed public and private commercial business. In 2000, he and his family moved to Colorado when he became a broker for AON Financial Services serving clients in the commercial markets. After spending three years in Colorado, he joined Chubb Corp. and relocated back to Connecticut where he has worked in various roles throughout the organization leading and strategizing in multiple underwriting groups.

Cronin received his undergraduate degree in business from Southern Connecticut State University and his MBA from the University of New Haven with a concentration in Finance and Marketing.

July 10, 2018 by matray

July 5, 2018 by matray

NORCAL Mutual Insurance Co. won the coveted SAMMY Award for “best overall work” at the 60^th annual Insurance Marketing & Communications Association (IMCA) Showcase Awards on June 26. The award honored NORCAL’s Employee Appreciation campaign, which thanked employees for their hard work throughout 2017. The SAMMY Award, selected by conference participants, recognizes the best overall work among all of the “Award of Excellence” and “Best of Show” winners.

NORCAL also received Awards of Excellence for its Customer Experience Champions launch event and Employee Appreciation campaign, and a Best of Show award for its event.

“It's an honor for our work to be recognized among some of the best marketing and communications minds in the insurance industry,” said Joy Corso, vice president of marketing and communications at NORCAL Mutual. “We are very proud to be selected from such a talented group of peers, and are inspired to build on these accomplishments and drive excellence.”

IMCA is the oldest insurance marketing-communications trade association in North America with a diverse membership of marketing, advertising, digital media, social media, graphic design, public relations, employee communications and corporate communications professionals. Showcase Awards were presented to insurance industry organizations in 37 distinct categories, including advertising, annual reports, corporate print communications, interactive, marketing communications and public relations.