Pinnacle Actuarial Resources Announces Roosevelt Mosely Is New Managing Principal

February 15, 2024 by matray

Pinnacle Actuarial Resources, , a property and casualty actuarial consulting firm, today announced principal Roosevelt Mosley will become the firm’s new managing principal effective April 9. Outgoing managing principal Joe Herbers will return to his role as firm principal.

“Over the last two decades, Pinnacle has grown into the leading independent property and casualty actuarial consulting firm in the U.S.,” Mosley said. “Our position in the industry has been largely due to the successful execution of our established business strategy. Collaborating with the firm’s principals, Joe has done an exceptional job of driving that strategy and helping to build Pinnacle’s widening reputation for quality, accuracy and innovation.”

The managing principal plays an important and highly collaborative role at Pinnacle and works with Pinnacle’s principals to set strategy and determine organizational goals. The managing principal also coordinates the implementation of policies and procedures, monitors day-to-day business operations and supports oversight of the firm’s functional areas. The role is also essential to communicating to all key stakeholders, including clients, on all important matters.

“The word growth does not appear in Pinnacle’s strategic plan, as set by the firm’s principals,” Herbers said. “Instead, our plan is focused on our commitment to our clients, empathetic customer service and outstanding communications. Those pillars have played a key role in Pinnacle’s success and are values to which Roosevelt has dedicated his career. He is particularly well-qualified for this role and will excel in growing and developing Pinnacle’s prominence and eminence in the property and casualty industry.”

Mosley has over 30 years of experience in the insurance industry and has worked for Pinnacle since 1999. He has been a principal at Pinnacle since 2006 and has led several of the firm’s functions including IT and strategic partnerships. Mosley’s practice is focused on predictive analytics and he is very widely known and respected for his leadership in the property and casualty industry.

He has been heavily involved in the profession and has volunteered with a number of important professional organizations. He is currently the immediate past president of the Casualty Actuarial Society (CAS) and served as president of the organization from 2022 to 2023. He has also volunteered with many industry organizations over the years, including the CAS, the American Academy of Actuaries, the Actuarial Foundation and the International Association of Black Actuaries (IABA).

Herbers has served as Pinnacle’s managing principal for almost 16 years. He is one of the firm’s founding principals and has worked to advance the actuarial profession. He is a sought-after speaker and is the author of numerous thought leadership pieces on actuarial matters. In addition to his long track record of serving hundreds of clients, he has dedicated himself to developing Pinnacle’s culture, and its scores of talented professionals.

He will continue to work at Pinnacle as a principal and consulting actuary, focusing on employee development and management of a designated functional department, or key management area (KMA).

“On behalf of all the firm’s principals, I thank Joe for his many years of service as Pinnacle’s managing principal. I am looking forward to continuing his legacy as managing principal,” Mosley added.

Medical Liability Monitor February 2024 issue highlights

February 8, 2024 by matray

Below are some headlines and article synopses from the February 2024 issue of Medical Liability Monitor. To read the articles in entirety, please subscribe today.

Florida Looks to Impose Noneconomic Damage Caps, End ‘Free Kill’ Law
A bill that would end a Florida law denying recoverable damages for certain wrongful death medical liability claims and impose noneconomic damage caps on medical malpractice awards cleared a key hurdle last month when it was approved by the state’s Senate Judiciary Committee …

New York Gov. Hochul Vetoes Bill Expanding Recoverable Wrongful Death Damages
New York Gov. Kathy Hochul vetoed for a second time the Grieving Families Act, a bill that would have expanded recoverable damages in wrongful death claims to include noneconomic damages. Under the current 177-year-old law, compensable damages in wrongful death actions are limited to economic loss only. New York and Alabama are the only two states that currently restrict family members from seeking recovery for their emotional suffering by limiting recoverable damages to the deceased’s earning potential …

Ohio Statute of Repose ‘Means What It Says,’ Applies to Wrongful Death
The Supreme Court of Ohio finally put to rest the issue of whether the state’s statute of repose for medical claims applies to wrongful death claims on Dec. 28, 2023, answering the long-discussed question in the affirmative …

Iowa Advances Bill to Pierce State’s Medical Malpractice Statute of Repose
Iowa lawmakers advanced a bill last month that would remove time requirements for filing a medical liability lawsuit against healthcare providers who conceal a cause of injury. Iowa law currently imposes a strict six-year statute of repose on medical liability claims, except those involving medical equipment left in a patient’s body post-surgery. If the bill becomes law, there will be no constraint for patients whose cause of injury or death was concealed by a healthcare provider …

Developing Safe Harbors to Address Malpractice Liability, Wasteful HealthCare Spending
With U.S. healthcare spending expected to exceed $7.2 trillion annually by 2031, the push to reduce healthcare resource utilization will only intensify in the coming years. Evidence suggests inpatient spending declines by about 5% — with no significant change in patient outcomes — when the threat of malpractice liability is removed. Current guidelines aimed at reducing waste do not account for the potential impact of medical liability and therefore may miss an opportunity to reduce spending without harming patients …

MPL Association Publishes Report on Industry’s 2023 Midyear Results
The Medical Professional Liability (MPL) Association recently published its Medical Professional Liability Insurance Sector Report: 2023 Midyear Financial Performance. This semiannual report provides insights into the MPL insurance market’s financial performance with commentary on the internal and external forces impacting insurer performance. Based on their review of the industry’s loss data, the report’s authors anticipate that frequency will likely remain flat at around 8,000 annual paid claims going forward, while average severity will continue its relentless climb …
Subscribe today to get this issue (as well as the 2023 Annual Rate Survey at no additional cost).

Subscribe today to get this issue (as well as the 2023 Annual Rate Survey at no additional cost).

Medical Malpractice Trial Lawyer Alyson J. Kirleis Joins Marshall Dennehey’s Health Care Department in Pittsburgh

February 6, 2024 by matray

Accomplished medical malpractice litigator Alyson J. Kirleis has joined Marshall Dennehey’s Pittsburgh office as a shareholder in the Health Care Department. Previously, she was a partner with Davies McFarland & Carroll.

Kirleis has more than 35 years of experience defending physicians, nurses and dentists, hospitals and long-term care facilities when claims and lawsuits are brought against them. An experienced litigator, she has successfully handled hundreds of matters which have included trials, mediations and appeals throughout western Pennsylvania in both state and federal courts. She additionally represents health care professionals before various licensing boards, from initial incident to proceedings before Hearing Examiners or Professional Licensing Boards.

“In the realm of medical malpractice defense in Pennsylvania, few attorneys match Alyson’s wealth of experience and track record of success,” said Robin B. Snyder, director of Marshall Dennehey’s Health Care Department. “Her enthusiasm for her cases  and extensive understanding of health care systems and operations set her apart when facing opponents in litigation. We are thrilled to welcome her to our bench of experienced medical malpractice trial attorneys.”

A leader within the greater Pittsburgh legal community, Kirleis is member of the Board of Governors of the Academy of Trial Lawyers of Allegheny County. She is also a member of the American Bar Association’s Tort Trial & Insurance Practice Section, and the Pennsylvania and Allegheny County Bar associations.

She is a graduate of Lehigh University and the University of Pittsburgh School of Law, and is admitted to practice in Pennsylvania.

Cooperative of American Physicians’ Mutual Protection Trust Earns 17th Consecutive A.M. Best A+ (Superior) Rating

February 5, 2024 by matray

The Cooperative of American Physicians, Inc. (CAP) announced that A.M. Best reaffirmed its A+ (Superior) rating for the Mutual Protection Trust (MPT). MPT has annually received this rating from A.M. Best since 2006.

A.M. Best once again recognized MPT for “maintaining the strongest level of risk-adjusted capitalization,” signifying its solid financial standing to withstand potential risks and uncertainties. The A+ rating exemplifies MPT’s ongoing ability to fulfill its financial obligations to its nearly 13,000 physician members.
v “We are proud to consistently earn this A+ (Superior) rating,” said CAP CEO Sarah Scher. “It reinforces CAP’s status as a leader in the California medical malpractice coverage market and further demonstrates our commitment to ensuring our members receive exceptional protection they can trust.”

A.M. Best also acknowledged the financial strength of Cooperative of American Physicians Insurance Company (CAPIC), which earned a rating of A- (Excellent). CAPIC is a wholly owned subsidiary of CAP and provides medical malpractice coverage tailored to large medical groups, reinsurance, and other benefits to its physician members.  

Cooperative of American Physicians’ Mutual Protection Trust Earns 17th Consecutive A.M. Best A+ (Superior) Rating

February 5, 2024 by matray

The Cooperative of American Physicians, Inc. (CAP) announced that A.M. Best reaffirmed its A+ (Superior) rating for the Mutual Protection Trust (MPT). MPT has annually received this rating from A.M. Best since 2006. A.M. Best once again recognized MPT for “maintaining the strongest level of risk-adjusted capitalization,” signifying its solid financial standing to withstand potential risks and uncertainties. The A+ rating exemplifies MPT’s ongoing ability to fulfill its financial obligations to its nearly 13,000 physician members. “We are proud to consistently earn this A+ (Superior) rating,” said CAP CEO Sarah Scher. “It reinforces CAP’s status as a leader in the California medical malpractice coverage market and further demonstrates our commitment to ensuring our members receive exceptional protection they can trust.” A.M. Best also acknowledged the financial strength of Cooperative of American Physicians Insurance Company (CAPIC), which earned a rating of A- (Excellent). CAPIC is a wholly owned subsidiary of CAP and provides medical malpractice coverage tailored to large medical groups, reinsurance, and other benefits to its physician members.

T. Bryan Carter Promoted to Chief Marketing Officer at Integris Group

February 2, 2024 by matray

Integris Group announced the promotion of T. Bryan Carter to chief marketing officer. Carter is the former chief operating officer and senior vice president of MedMal Direct Insurance Co., which Integris Group recently acquired.

Carter has more than 30 years of experience in the insurance and healthcare industry. He joined  MedMal Direct in 2018 as its senior vice president of sales and marketing and was promoted to chief operating officer in 2022. During his time at MedMal Direct, Carter led the growth of the direct written premium of the company and managed its sales, marketing, underwriting strategies and product development.

As Integris Group’s chief marketing officer, Carter will lead the company’s Business Development and Marketing Departments for all Integris Group member companies, including Integris Insurance Co., Integris RRG, MDIC and CorePRO Insurance.

“I have worked with Bryan at two different organizations, and he has always been an unequivocally high achiever with a proven track record that includes working with multiple MPL constituents to deliver solutions to our healthcare providers,” said Marc Hammett, MedMal Direct chief executive officer. “His promotion to Integris Group’s chief marketing officer will be a natural fit for his talents, skillsets and past successes leading and developing productive sales organizations, identifying and honing sales talent, and delivering consistent messaging to the policyholders. We look forward to having him lead the ongoing expansion efforts of Integris Group.”

MSSNY, MLMIC Announce Exclusive 10% Discount on Medical Liability Insurance for Qualifying Members of MSSNY

February 1, 2024 by matray

The Medical Society of the State of New York (MSSNY) and MLMIC Insurance Company (MLMIC) are pleased to announce a new exclusive program that will bring a 10% discount medical liability insurance to qualifying members of MSSNY.

Born out of the auspices of MSSNY in 1975 during the malpractice crisis, MLMIC has continually been the trusted and exclusive medical professional liability partner of MSSNY.  This new program will bring a MLMIC premium discount opportunity to MSSNY’s network of approximately 20,000 physicians.

MSSNY members who are MLMIC policyholders may also be able to take advantage of additional discounts for up to 30% in total savings on MLMIC medical professional liability insurance premiums.

Discount programs that are available:

• • Up to 12% for qualified physicians and surgeons with no open or closed claims.
  • 5% savings when you complete a NYS-qualified Risk Management program.
  • 5% savings for individual physician policyholders who waive consent to settle a claim.
  • 2% premium credit for prompt payment of the full annual premium within 30 days of receipt of the invoice.

AM Best Affirms Credit Ratings of MLMIC Insurance Company

January 31, 2024 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). 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 five years, the company’s net operating results have been skewed by the 100% loss portfolio transfer (LPT) and 85% quota share agreement with National Indemnity Company, which were executed in 2018. As a result, favorable reserve development related to prior 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 (MPL) line of business. The company underwrites risks only within New York, which is one of the nation’s most challenging and litigious markets for MPL. 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.

The Doctors Company Promotes Deepika Srivastava to Chief Operating Officer

January 30, 2024 by matray

The Doctors Company promoted Deepika Srivastava to chief operating officer. Srivastava will oversee claims, underwriting, sales, patient safety and risk management, and the shared services of Technology, Cybersecurity, Innovation & Enterprise Project Office for all TDC Group business units.

“I am pleased to congratulate Deepika on her enhanced role at The Doctors Company. She embodies our mission to advance, protect, and reward the practice of good medicine,” said Richard E. Anderson, MD, FACP, chairman and chief executive officer of The Doctors Company and TDC Group. “Deepika has extensive experience in medical professional liability and a proven track record of enhancing operational efficiency. She possesses all the attributes we value in a leader, including a mission-driven mindset, innovative thinking, and a commitment to people development, as well as patience and humility.”

Since joining The Doctors Company in 2011 as a project manager, Business Applications, Srivastava has held many roles, including executive vice president, vice president operations, chief information officer and chief information security officer. She serves on the advisory board of the California Insurance Guarantee Association and the Actuarial Science Program at Michigan State University. She holds an MBA from the University of Lucknow, India, and has completed the Innovation & Entrepreneurship program at Stanford University, as well as the Advanced Management Program at the University of Pennsylvania’s Wharton School of Business.

“I am excited to leverage my experience across the organization to spearhead strategy, drive operational excellence, and ensure effective execution,” Srivastava said. “As we build a national platform for service and advocacy for all healthcare professionals and organizations, we remain committed to enhancing our mission-driven culture and being a strong proactive partner for those delivering care.”  

LAMMICO Named a 2023 ‘Best and Brightest Company to Work For in the Nation’

January 29, 2024 by matray

LAMMICO was named one of the “Best and Brightest Companies to Work For in the Nation” for Winter 2023 by the National Association for Business Resources. An independent research firm assessed the winners by reviewing several key measures relative to other nationally recognized winners, based on categories such as communication, work-life balance, employee education, diversity, recognition, retention and more. This honor marks the ninth time that LAMMICO has received the “Best and Brightest Companies to Work For in the Nation” designation since 2015.

The “Best and Brightest Companies to Work For in the Nation” offers different timelines of applications throughout the year: Spring, Summer, Fall and Winter. For all of 2023, the “Best and Brightest” national winners included 480 organizations out of 3,400 nominations from across the country.

One component that contributed to earning this honor is LAMMICO’s effort toward work-life balance and flexibility. LAMMICO employees value the benefits of flexible work hours, compressed workweeks, remote work and telecommuting. This flexible environment acknowledges the contributions of all employees and the various ways they work.

“What an honor for LAMMICO to receive this designation! It’s a testament to the employees, who are among the best and brightest people I know,” said J. Michael Conerly, MD, LAMMICO president and chief executive officer. “I’m so proud of the LAMMICO staff who work together toward our mutual purpose of protecting those who care for others.”