Medmarc Insurance Group, Pharmacists Mutual Announce a Strategic Alliance to Package All-Lines Insurance Coverage for Life Sciences Companies
February 11, 2019
Feb 7, 2019--Medmarc Insurance Group, a subsidiary of ProAssurance Corp., and Pharmacists Mutual Group announced a strategic alliance to package industry-specific insurance coverages to the life sciences companies.
Insurance brokers who place their medical technology clients with Medmarc will now have access to Pharmacists Mutual for property, general liability, commercial auto, workers compensation, umbrella and employment practices liability policies through Hamilton Resources Corp., Medmarc’s in-house insurance agency.
"We are thrilled to enter into this relationship with Pharmacists Mutual," said Ned Rand, president, chief operating officer of ProAssurance and president of Medmarc. "Medmarc has focused for 40 years on providing products liability and manufacturers E&O insurance products and services to medical technology companies, and it is important for us to be aligned with a well-respected carrier such as Pharmacists Mutual to offer our brokers and insureds competitive commercial insurance products tailored to the life sciences industry.”
"We are very pleased to be celebrating Medmarc’s 40th Anniversary with the joint announcement of our alliance to provide a wide range of insurance products to Medmarc’s insureds," said Ed Yorty, Pharmacists Mutual president and CEO. "Pharmacists Mutual was founded over 100 years ago to offer insurance protection to members of the Iowa Pharmacy Association. We have since grown to become a leading national insurer dedicated to serving the needs of our members in selected healthcare markets. We look forward to providing Medmarc’s distribution partners and insureds with the same level of service and dedication they have come to expect from with Medmarc.”
“Both Medmarc and Pharmacists Mutual have long histories of creating insurance products and services that meet the unique needs of healthcare innovators and professionals dedicated to saving lives and improving the quality of life in local communities and around the world,” said Karen Murphy, the executive vice-president of Medmarc and head of life sciences for ProAssurance. “Through our new alliance, we will offer a broad array of tailored insurance coverages supported by dedicated teams of underwriting, claims and risk management professionals — providing innovative companies with innovative solutions.”
Brokers may obtain a proposal today at www.medmarc.com/apply or by calling 800.356.6886 ext. 1360.
NORCAL Group Foundation Awards Nine Grants Focused on Improving Health & Wellness
February 7, 2019
The NORCAL Group Foundation, dedicated to improving healthcare in local communities, announced its largest group of grant recipients to date. Nine organizations have been awarded funding for initiatives and programs focused on patient care, patient safety and physician wellness:
• Anchorage Project Access (Anchorage, AK)
• Beacon Clinic for Health and Hope (Harrisburg, PA)
• Champions for Health (San Diego, CA)
• Foundation of the Pennsylvania Medical Society (Harrisburg, PA)
• Fresno Madera Medical Society – Joy of Medicine (Fresno, CA)
• Pediatric and Family Medical Center (Los Angeles, CA)
• Ravenswood Family Health Center (East Palo Alto, CA)
• Sacramento El Dorado Medical Society: Community Service, Education and Research Fund
• Sierra Community Medical Foundation (Rocklin, CA)
“This grant cycle we were pleased to support several organizations that are developing and implementing programs to address physician burnout, as this issue continues to be a growing concern within the medical community,” said Julie Burns, president of the NORCAL Group Foundation. “We’re also delighted to be able to assist several groups providing healthcare services to low-income and underserved members of the community, and we are impressed with the work that they’re doing.”
The NORCAL Group Foundation has supported 15 programs in five states since its inception and is working continually to expand its reach.
The next grant cycle opens March 1. Interested applicants should visit www.norcalgroupfoundation.org for information and application requirements.
MedMal Direct Announces Appointment of Melodee Dixon as President and CEO
February 1, 2019
Jacksonville-based MedMal Direct Insurance Co. announced the appointment of Melodee Dixon as president and chief executive officer. Butler Ball, MedMal Direct's founding president and CEO, will continue to serve as the CEO of Physicians Trust, Inc., MedMal Direct's parent company. Ball will also continue to sit on the board of directors of MedMal Direct.
Dixon has more than 30 years of insurance operations experience exclusively in the medical professional liability sector. She has served as MedMal Direct's chief operating officer since December 2016. Prior to joining MedMal Direct, she held executive roles for various insurance carriers and managing general agencies.
"Melodee's experience and dynamic leadership style will serve the company well as we approach our second decade of providing physicians with direct access to quality medical malpractice coverage," said Ball. "I look forward to supporting her in this exciting new chapter of MedMal Direct's growth and success."
According to the company, Dixon's appointment as CEO aligns with the evolution of MedMal Direct's leadership team to support a focus on innovation, technology and direct relationships with physician insureds. Other recent appointments to the company's executive leadership team include Marc Hammett, an industry veteran who was appointed chief financial officer in July 2017, and Bryan Carter, who joined the company as senior vice president of sales and marketing in November 2018 with more than 25 years in sales and operational leadership experience.
Melodee Dixon, President and CEO of MedMal Direct Insurance Company
"This marks a fantastic milestone for our company; one that has been years in planning and about which I am thrilled. We have positioned ourselves for our next phase of growth with the management team we now have in place. Their experience and technical expertise will bolster our work toward scaling the business and taking it to the next level," Ball said.
Admiral Insurance Group Announces New Senior Vice President, Chief Underwriting Officer
January 21, 2019
Admiral Insurance Group, a Berkley company, announced the appointments of Leah Taylor as senior vice president, underwriting services, and Mark Brown as chief underwriting officer.
Taylor will work closely with the Casualty and Professional units to drive innovation and implement efficiencies in the production of business. In this new role, she will be responsible for organizing and managing oversight, audits and new product development. The Admiral operations team, executive underwriters and chief underwriting officer will report to Leah.
Taylor began her career in insurance with Admiral in 1994. During her career, she has held increasing roles of responsibility, quickly demonstrating excellence in her relationships with Admiral’s wholesale broker partners. Most recently she served as senior vice president of professional liability at Admiral, where she led the development of new professional products across the country.
Brown started with Admiral in 1997 and brings more than 30 years of underwriting experience to the chief underwriting officer role. He has held various roles while at Admiral and has been Admiral’s casualty underwriting officer for the past decade. Brown will oversee underwriting direction and work with the technical executive underwriters, product development and compliance teams.
The Doctors Company Now Using Milliman Datalytics-Defense’s AI platform for Claims-Defense Management
January 17, 2019
Milliman Inc., a global consulting and actuarial firm, announced that The Doctors Company has implemented Milliman Datalytics-Defense as its advanced analytics legal management platform for processing defense cost invoices. The choice of Datalytics-Defense lets The Doctors Company collaborate with defense counsel to use best practices for defense strategy through artificial intelligence and data-driven decisions. Milliman Datalytics-Defense employs data mining algorithms and machine learning to help insurers and self-insureds detect patterns in attorney billing practices, delivering a better understanding of costs and case strategies.
"At The Doctors Company, we are continually looking for innovative ways to harness the data available to us and use it to improve our operations and increase efficiencies," said Cathy Shutack, senior vice president of claims at The Doctors Company. "With Milliman Datalytics-Defense, we've found a way to apply artificial intelligence based techniques to our vast amounts of data, and use the resulting information to make better data-driven decisions around the claims management process."
Milliman Datalytics-Defense is designed specifically for the insurance industry and has subject matter expertise built into the technology and reporting. The tool's predictive analytic engine is fueled by powerful and proprietary data-mining algorithms that convert text-based data into rich and powerful structured data.
"Leading companies recognize the importance of analyzing the data available to them and unlocking its hidden intelligence as a way to effectively manage and mitigate risk," saidChad C. Karls, principal and consulting actuary with Milliman. "The Doctors Company has a reputation as a forward-thinking organization that understands how a tool like Datalytics-Defense can benefit its members, and I'm looking forward to continuing our work together."
Indiana Department of Insurance Announces Rate Drop for Patient’s Compensation Fund for 2019-2020
January 14, 2019
The Indiana Department of Insurance announced that surcharge rates for the Patient’s Compensation Fund (PCF) will decrease for 2019-2020. The new rates will be effective on July 1, 2019. The surcharge rates for physicians will decrease by 10.9 percent and rates for hospitals will decrease by 12.3 percent, which will result in an approximate $20 million dollar savings overall. This is the first decrease in surcharge rates since 2012. An official Bulletin, Bulletin 247, has been posted on the Department's website.
The PCF is a dedicated fund administered by the Indiana Department of Insurance. It was created in 1975 by the Indiana Legislature as a component of the Indiana Medical Malpractice Act. The fund provides excess compensation for patients who have experienced medical malpractice, in addition to the recovery of compensation from a defendant healthcare provider.
The PCF is funded via a surcharge paid by healthcare providers as part of their professional liability insurance premium. The amount of surcharge paid by a healthcare provider is based upon the risk associated with a healthcare provider’s specialty.
Senior Leadership Changes at Coverys Announced
January 9, 2019
Effective March 31, 2019, Mary Ursul will step back as the executive vice president at Coverys. Lynnette Matza, CEO and president of PPIC, a Coverys company, will succeed Ursul and assumed the role of executive vice president on Jan. 1, 2019, to ensure an orderly transition.
Ursul began her career with Coverys in 2006 holding a number of positions during her tenure, most recently overseeing Coverys’ Med-IQ operations and the coordination of the companies within the Coverys Strategic Healthcare Alliance. She will be leaving her full-time position, but will continue to work with the Coverys Community Healthcare Foundation as well as on special projects.
“Mary has always been willing to step in and take on any challenge that has come her way. She does so with a keen eye on business operations, but also with a focus on the people including mentoring many of our leadership members,” said Gregg Hanson, CEO and president of Coverys. “Mary’s time with Coverys has been instrumental to the success of MHAIC and WCC as well as their subsequent transition to the Coverys family.”
Lynnette Matza will transition from CEO and president of PPIC to serve as executive vice president, oversee Med-IQ operations, and manage the Coverys Strategic Healthcare Alliance relationships.
“It is crucial to have strong leadership to run the day-to-day operations and to ensure all subsidiaries are aligning our entities’ goals and aspirations,” said Hanson. “We are pleased to have Lynnette transition into this new role, as her financial acumen and business operational knowledge of Coverys will be of great value.”
Matza joined PPIC in 1988 as controller. During her tenure with PPIC, Matza served as vice president of finance, CFO and senior vice president, and president and chief executive officer. She is a member of the American Institute of Certified Public Accountants, the Nebraska Society of Certified Public Accountants, and graduated with high distinction from the University of Nebraska Lincoln with a Bachelor of Science in business administration with an emphasis in accounting.
Dentists Benefits Insurance Co., Northwest Dentists Insurance Co. Receive Final Approval To Merge With The Dentists Insurance Co.
January 7, 2019
Dentists Benefits Insurance Co. (DBIC) and Northwest Dentists Insurance Co. (NORDIC), acquired by The Dentists Insurance Co. (TDIC) in February 2017, merged with, and into, their parent company, TDIC, effective Jan. 1, 2019, after final regulatory approval. The merger was approved by the California Department of Insurance (DOI), the Oregon Division of Financial Regulation (DFR) and the Washington State Office of the Insurance Commissioner (OIC).
As a result of the merger, DBIC and NORDIC are now united as one company operating as The Dentists Insurance Co. The name and logo have changed and policyholders can expect a smooth transition with no disruption to the service they have come to trust and rely upon.
"The merger gives policyholders peace of mind, knowing that TDIC has a single vision to only protect dentists," said TDIC Board Chair Daniel Davidson
, DMD. "For nearly 40 years, TDIC has provided exceptional service and high-quality products to our policyholders and we will continue this legacy with the merging of DBIC and NORDIC."
TDIC focuses exclusively on supporting the dental profession by offering a comprehensive suite of professional insurance products to more than 24,000 dentists in 15 states. With this merger, TDIC now extends its exceptional legacy, brand values, financial strength and stability to over 5,000 additional policyholders in five states.
TDIC has been rated A (Excellent) by A.M. Best for 24 consecutive years.
LAMMICO Names New Chairman of the Board
January 4, 2019
In preparation for his transition to president/CEO in March 2019, J. Michael Conerly, MD, will step down from his position as chairman of the LAMMICO Board of Directors. Accordingly, the Board elected Frederick J. White, III, MD, as LAMMICO's chairman of the Board effective Jan. 1, 2019.
White's extensive experience with LAMMICO makes him well prepared for this position. He joined the Risk Management Committee in 1999 and became a member of the LAMMICO Board of Directors in 2001. White has also served as senior vice president of Risk Management & Patient Safety, chair of the Governance Committee and as a member of the Executive, Audit & Legislative Activities Committees.
White received his medical degree from Louisiana State University Health Sciences Center School of Medicine in Shreveport and completed his residency and internship at the University of Arkansas for Medical Sciences. He holds a Bachelor of Science in Business Administration and is currently pursuing a Master of Business Administration at LSU-Shreveport. He is a board-certified cardiologist practicing at Willis-Knighton Cardiology and was co-founder and partner of Cardiovascular Consultants, LLP in Shreveport.
BETA Healthcare Group Announces New BETA Council Positions
December 20, 2018
BETA Healthcare Group, a professional liability insurer of hospitals on the West Coast, announced the appointment of Mike Moody as chair and Kim Milstien as vice chair of the BETA Council, the governing body of BETA Risk Management Authority (BETARMA). They will lead the BETA Council in providing central oversight of the member-governed liability and workers’ compensation program serving hospitals, healthcare facilities and providers.
Mike Moody, senior vice president, Partnership Integration & Development at John Muir Health, replaces retiring chair Jim Raggio, CEO of Lompoc Valley Medical Center. Moody has been a member of the BETA Council since 2014 and vice chair since 2017.
BETA Healthcare Group’s new vice chair, Kim Milstien, is CEO of the Ventura County Medical Center and Santa Paula Hospital at Ventura County Healthcare Agency. Milstien joined the BETA Council in 2014.
“We are very excited to have Mike Moody and Kim Milstien move into their new leadership roles on the BETA Council,” said Tom Wander, CEO of BETA Healthcare Group. “They bring not only their professional career expertise and visionary leadership to bear in their roles on the Council, but also a deep knowledge of, and passion for, BETA’s focus on relationships and partnering with its members to manage risk.”
The BETA Council provides leadership and governance, with its members elected from among participating facilities. It makes policy decisions and meets quarterly to vote on all matters affecting the program, including strategic goals, coverage changes and new product decisions.