ISMIE Mutual Adds Washington, D.C., to Coverage Map

June 5, 2018 by matray

ISMIE Mutual Insurance Co. announced today that Washington, D.C., is the latest coverage territory in the medical professional liability insurance company's national expansion. 

Recently granted admitted status by the District’s Department of Insurance, Securities & Banking (DISB), the company will offer wide-ranging medical liability coverage for health professionals, groups and healthcare facilities. Health professionals in the District will now have access to ISMIE’s risk management program, cyber liability protection and claims services. 

“ISMIE and our broker partners are excited to serve the diverse range of medical professionals in the nation’s capital with a growing range of products and services available to ISMIE’s national audience,” said ISMIE chairman Paul H. DeHaan, MD. “We are looking forward to supporting new policyholders caring for patients throughout the District and expansion areas beyond.” 

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Financial Strength Rating Affirmation of Coverys Member Companies and Assigned Credit Rating to Healthcare Underwriters Group, Inc.

June 4, 2018 by matray

A.M. Best announced it has affirmed the Financial Strength Rating of A (Excellent) for Medical Professional Mutual Insurance Co. (ProMutual) wholly owned subsidiaries, ProSelect Insurance Cos. (ProSelect), Preferred Professional Insurance Co. (PPIC), Coverys Specialty Insurance Co. (Coverys Specialty) and its sponsored risk retention group, Coverys RRG, Inc.  

In addition, Healthcare Underwriters Group, Inc. (HU), a Coverys company, has been assigned a Financial Strength Rating of A (Excellent). A.M. Best noted that the implementation of a quota share reinsurance agreement between HU and ProMutual provides substantial reinsurance support and new ownership gives HU policyholders access to Coverys’ patient safety and risk management programs.

“We are pleased with A.M. Best’s recognition and validation of Coverys’ financial standing,” said Gregg Hanson, CEO and president of Coverys. “Coverys’ financial strength is fundamental to the continued operational services providing policyholders progressive risk management and enhanced patient safety programs.”

“We are proud to receive an A Rating from A.M. Best for Healthcare Underwriters Group,” said Joshua Salman, CEO and president of HU. “The recognition showcases Coverys’ financial strength and the collective resources of Coverys companies and Healthcare Underwriters Group.”

The full A.M. Best report is available on the A.M. Best website at www.ambest.com.

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KAMMCO Announces Unified Brand, Updated Website

June 1, 2018 by matray

Kansas-headquartered insurer of medical professional liability today announced a unified KAMMCO brand. KAMMCO and its subsidiaries will simply be referred to as KAMMCO, with exceptions being insurance policies, financial transactions/reporting or corporate legal matters where the full subsidiary name is most appropriate or required.

The KAMMCO board recently evaluated what KAMMCO means to members, the patients they serve, the healthcare organizations with whom they collaborate and the new markets the company is likely to enter into during the next few years. In doing so, the KAMMCO mission and vision and the KAMMCO business plan have been revised to reflect a national footprint with a more encompassing suite of insurance products and healthcare solutions intended to support and advocate for physicians and the delivery of quality healthcare. According to KAMMCO, the entire enterprise is poised to advocate for providers in new and important ways that are valuable to both providers and patients alike. The revised mission and vision statements read as follows: KAMMCO Mission: To be a trusted source of innovative insurance and technology solutions designed to meet the unique needs of our network of connected healthcare communities. KAMMCO Vision: To create value for healthcare providers and the patients they serve through provider-directed, patient-focused business and technology solutions that support quality care. According to KAMMCO, the unification also presented an opportunity to “freshen” up its logo and general branding look. The company also refreshed its www.KAMMCO.com website. The information and member resources are now organized according to the insurer's Insurance division and Healthcare division. The updated website no longer requires a user name and password for members to access member resources (linked third party web resources, such as MED-IQ and the Cyber Security Resource Center, will still require a login upon reaching the respective portals).

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Two Members Re-Elected to the NORCAL Mutual Board of Directors

June 1, 2018 by matray

The NORCAL Mutual Board of Directors held the Annual Meeting of Members on Thursday, May 31, in San Francisco. During the Annual Meeting, policyholder members re-elected Alice H. Gannon and M. Diane Koken to serve a three-year term until the Annual Meeting of Members to be held in 2021.

The NORCAL Mutual Board is composed of nine directors of varying specialties and business backgrounds. Gannon has more than 40 years of experience as an actuary for the insurance industry, and Koken has been an attorney and formerly served as Pennsylvania Insurance Commissioner.

Additionally, Patricia Dailey, MD, announced her retirement from the NORCAL Mutual Board. Dr. Dailey served on the Board since 2004.

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Coverys’ Lisa Simm Awarded FASHRM Designation by American Society for Healthcare Risk Management

May 22, 2018 by matray

Coverys recently announced that Lisa Simm, manager, risk management for the Boston-headquartered insurer of medical liability is a recent recipient of the American Society for Healthcare Risk Management's Fellowship Award (FASHRM). This award recognizes outstanding individual achievement and professional excellence in healthcare risk management. To be eligible for FASHRM, fellows must meet criteria in areas of academic and professional designations, continuing education, employment experience and contributions to the field of healthcare risk management through leadership, lecturing and publishing. All potential recipients for the fellowship position undergo a thorough review by the ASHRM board of directors. “We are honored to have Lisa as part of our risk management team,” said Tara Gibson, vice president of risk management at Coverys. “Her dedication to the healthcare community and her ambition prove her to be a well-deserved recipient of this prestigious designation.” Simm has more than 30 years of healthcare leadership experience focusing on healthcare risk management, quality, safety and regulatory compliance in hospital, outpatient settings, physician office practices and long-term care settings. She is a Registered/Licensed Dietitian, a Certified Professional in Healthcare Quality (CPHQ), a Certified Professional in Patient Safety (CPPS) and a Certified Professional in Healthcare Risk Management (CPHRM). Simm is the current treasurer and board member of the Northern New England Society of Healthcare Risk Management and she is on the American Society of Healthcare Risk Management Content Committee.

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Paul H. DeHaan, MD, Elected ISMIE Chairman; New Officers and Board Members Elected

May 21, 2018 by matray

ISMIE Mutual Insurance Co. recently announced the election of Paul H. DeHaan, MD, to be the medical professional liability insurance company's fourth chairman since the its founding in 1976. DeHaan, previously ISMIE vice chairman, had been acting chair of ISMIE since the passing of former chairman Harold L. Jensen, MD, in May of 2017. DeHaan has been an integral leader of ISMIE’s business development and expansion, according to the medical liability insurer. He is a board-certified orthopaedic surgeon who has lived and practiced in McHenry, Ill., for 30 years, a diplomate with the American Board of Orthopaedic Surgery and a fellow with the American Academy of Orthopaedic Surgeons. DeHaan studied medicine at the University of Illinois at Chicago College of Medicine and interned and completed his residency at the Medical College of Wisconsin Affiliated Hospitals. New officers and board members elected ISMIE’s board of directors elected Peter E. Eupierre, MD, a Melrose Park internist, as the company’s new vice chairman and Richard A. Geline, MD, a Glenview-based orthopaedic surgeon, as secretary-treasurer. Adrienne L. Fregia, MD, a Chicago-based specialist in internal medicine and gastroenterology, and Dennis G. Norem, MD, a Rockford-based internist, were elected as new board members during the ISMIE annual meeting.

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CNA Appoints Bruce Dmytrow to Senior Vice President, Healthcare

May 17, 2018 by matray

CNA announced the appointment of Bruce Dmytrow to senior vice president, Healthcare. In this role, Dmytrow is responsible for the overall strategic leadership and direction of CNA's Healthcare underwriting unit. He reports to Kevin Smith, president and chief operating officer, CNA Specialty.  

Dmytrow joined CNA in 1995, most recently serving as vice president for Aging Services and National Programs. Throughout his career at CNA, he has had oversight for CNA's enterprise-wide risk control strategic direction for Healthcare, Professional Services and Financial Institutions Customer Segments in the U.S., Canada and Europe. 

"Bruce is a trusted leader and is well-known for his breadth and depth across the continuum of care, with expertise that extends from the traditional hospital/physician model to new and emerging healthcare delivery systems," Smith said. "Bruce's extensive knowledge and leadership capabilities, combined with CNA's more than 50 years of experience as a top underwriter of insurance solutions and services for healthcare companies, will enable us to better serve our more than one million healthcare customers."

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Cooperative of American Physicians to Present at 2018 Southern California Association for Healthcare Risk Management Conference

May 2, 2018 by matray

The Cooperative of American Physicians, Inc. (CAP) recently announced that vice president for practice optimization, Carole Lambert, MPA, RN, will speak at the Southern California Association for Healthcare Risk Management (SCAHRM) 38th Annual Educational Conference in Rancho Mirage, Calif., on Thursday, May 3 at 10:05 a.m. PDT.

According to the company, CAP is dedicated to providing doctors and hospitals with the tools to offer patients a seamless experience while mitigating the risk inherent with providing care. It specializes in evaluating office systems and documentation, including both paper and electronic health records, to help healthcare practitioners reduce risk.

Joining Lambert will be co-presenter Randie Minovitz, BSN, RN, director, ambulatory risk management at PIH Health Whittier, a nonprofit regional health network serving Southern California. Their presentation, entitled “These Boots Are Made for Walkin’: Risk Management in Ambulatory Care,” will outline key takeaways for medical risk management professionals as they navigate and continue to develop their strategies for effective practice administration specifically as it relates to ambulatory care. Attendees will take away the following key lessons:

• The evolution to complex patient care in the ambulatory setting;

• Behaviors that multiply risk in ambulatory care delivery;

• Strategies for responding to historic and emerging risk issues in the ambulatory setting.

“While there is a growing emphasis on ambulatory procedures in favor of costly and unnecessary hospital stays, there has not yet been an increased acknowledgement of risk issues in the ambulatory care setting,” Lambert said.

“This presentation considers sources of risk along the continuum of ambulatory care and outlines strategies for effective responses to the sources of risk, providing a vital resource for healthcare professionals and practices,” Minovitz added.

Last year, CAP released a comprehensive guide called the Risk Management Self-Assessment Kit, in order to provide a resource and a practical checklist for healthcare providers to help ensure that they are meeting mandated requirements and recommended guidelines to serve as a benchmark for excellence in their risk management. 

Lambert is a member of the CAP Speakers Bureau, a group of experts and thought leaders in medical risk management, practice management, legal and public affairs.

For more information, please visit www.CAPphysicians.com.

 

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CMIC Group’s A- (Excellent) Rating Affirmed by A.M. Best; Outlook Revised to Negative

May 2, 2018 by matray

CMIC Group, a mutual medical professional liability insurance provider, was recently notified that A.M. Best has affirmed the Company’s financial strength rating of A- (Excellent), and the Long-Term Issuer Credit Ratings of "A-" of Connecticut Medical Insurance Company (CMIC) (Glastonbury, CT) and CMIC Risk Retention Group (District of Columbia). However, the outlook has been revised from stable to negative. 

The revised outlook reflects the negative trend in underwriting performance and the challenges CMIC faces to improve results in the near term given the ongoing soft market conditions. Underwriting results have suffered in 2016 and 2017 due to increased severity following several years of consistently positive underwriting results and corresponding surplus growth.  As well in 2017, CMIC booked a “one-time reserve adjustment” of $8 million to account for previously unidentified retro-dated coverage predominantly within the risk retention group’s modified claims-made book of business. 

Despite the reserve strengthening, CMIC’s surplus increased by $10.0 million to $309.5 million as of Dec. 31, 2017, due primarily to unrealized gains.  In terms of financial strength and stability, A.M. Best stated that the Company’s Balance Sheet has received the strongest level of risk-adjusted capitalization rating (BCAR).  They also commented that CMIC's investments are conservative and liquid, while underwriting leverage continues to remain low. 

“Despite these recent developments, our company continues to be very strong financially and the Board of Directors, Management Team, and staff are working diligently to improve our financial performance during this difficult market cycle,” said Stephen J. Gallant, CEO of CMIC Group. “Likewise, we are reviewing our product offerings to ensure they continue to meet the evolving needs of the marketplace, and we appreciate the continued loyalty and support of our esteemed member physicians and valued distribution partners as we remain committed to the long-term success of the company.”

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The Doctors Company Names New Senior Vice President of Claims

April 26, 2018 by matray

The Doctors Company has promoted Catherine Shutack to the position of senior vice president of claims. In her new role, Shutack oversees the claims function throughout all 50 states for The Doctors Company. She reports directly to Bill Fleming, chief operating officer. “As service is the number one priority of the claims department, this new role provides me with an even greater opportunity to positively impact our members,” said Shutack. “I am proud to lead our claims department employees, who are committed to being the best partners for our members during the most trying times of their professional lives.” Shutack noted The Doctors Company's claims staff employees are some of the most experienced in the industry and share a passion to vigorously protect and defend members. “Being sued is a devastating, life-changing event for doctors,” said Shutack. “We’re there to support our members at every step, from the moment a claim is filed to when it’s closed.” Shutack most recently served as vice president of claims for the company’s Northeast region. “We are extremely pleased to promote Cathy to this national leadership position,” said Fleming. “Through her years with The Doctors Company, she has shown a passion for our members and for tirelessly defending the practice of good medicine. Under Cathy’s leadership, members can be assured they will continue to receive top-notch service throughout the life of their claim.”

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