The California Medical Association Selects The Doctors Company as Its Exclusive MPL Insurance Company Corporate Sponsor

December 15, 2023 by matray

The California Medical Association (CMA), representing nearly 50,000 physicians, has chosen The Doctors Company as its exclusive medical professional liability insurance company (MPLI) corporate sponsor.

"We are honored to be the exclusive MPLI corporate sponsor of the California Medical Association. We are steadfastly committed to supporting the medical profession in California and continue to empower physicians and advance healthcare excellence in our home state," said Richard E. Anderson, MD, FACP, chairman and chief executive officer, The Doctors Company and TDC Group. "CMA and The Doctors Company share an abiding commitment to advance the practice of good medicine."

CMA members are eligible for many offerings from The Doctors Company. The Doctors Company offers members competitive rates for medical malpractice insurance, aggressive defense, expert patient safety tools and programs, access to its risk management program, and a range of coverage options for physicians. CMA members who become insured by policies of The Doctors Company can also benefit from the Tribute Plan, which financially rewards physicians for their loyalty and commitment to superior patient care.

"The Doctors Company was the obvious choice for this partnership because their legislative and judicial advocacy on behalf of physicians has been an unwavering force in California for decades. As an organization founded and led by physicians, they understand the ever-changing healthcare landscape," said Dustin Corcoran, chief executive officer of CMA. "The Doctors Company shares CMA's ongoing commitment to defending laws and enacting new measures that limit liability exposure for physicians in all practice settings."

CMA joins many of the most prestigious medical organizations, including the Florida Medical Association and the Michigan State Medical Society, which collaborate with The Doctors Company through exclusive sponsorships, partnerships, and/or endorsements because of its physician focus, financial strength, and mission to advance, protect, and reward the practice of good medicine.

Medical Liability Monitor December 2023 issue highlights

December 12, 2023 by matray

Below are some headlines and article synopses from the December 2023 issue of Medical Liability Monitor. To read the articles in entirety, please subscribe today.

Meet Indigo, the Company Looking to Modernize MPL Insurance
Indigo — the new medical professional liability (MPL) insurance platform utilizing artificial intelligence, expanded data and advanced technology to offer customized pricing for physicians and a streamlined experience for brokers — grabbed the MPL industry’s attention with its October launch and the announcement that AMA Insurance Agency Inc., a subsidiary of the American Medical Association, will work exclusively with the company to bring its innovative medical malpractice insurance solution to physicians …

AM Best Revises Outlook on U.S. Medical Professional Liability Segment to Stable
AM Best revised its outlook on the U.S. medical professional liability (MPL) insurance segment to stable from negative, citing improved rate adequacy, the diminishing impact of pandemic-related exposures, persistently redundant loss reserves, higher reinvestment rates and improved overall returns …

Curi Buys Majority Stake in $9.6B RMB Capital, Forms Curi RMB Capital
Curi entered into a definitive agreement last month to acquire a majority stake of RMB Capital, a registered investment advisory firm with more than $9.6 billion in assets under advisement. As part of the agreement, Curi Capital, a registered investment advisory firm with approximately $1.6 billion in assets under advisement, will merge with RMB. The transaction is expected to close by the end of the year. Terms were not disclosed. Curi Capital is a division of Curi’s overall healthcare advisory firm, which also includes Curi Insurance and Curi Advisory …

President Biden Takes First Step Toward Regulating AI in Healthcare
President Joe Biden took a significant step in shaping how the U.S. government will regulate artificial intelligence (AI) technologies across various industry sectors, including healthcare, when he signed Executive Order 14110, titled “Safe, Secure & Trustworthy Development & Use of Artificial Intelligence.” The Oct. 30 executive order establishes a policy framework for managing risks associated with AI and directs agency action to regulate the use of health AI systems and tools …

Strong Investment Returns Highlight Third-Quarter MPL Financial Results
With nine months of 2023 in the books, the MPL industry appears to be struggling to maintain momentum with regard to increasing direct written premium, but the industry’s investment income through the third quarter of 2023 spiked to $680 million, a level not seen since 2011 …

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

NOW Insurance Launches Physicians and Medical Groups Coverage on AI Portal

December 5, 2023 by matray

NOW Insurance, a full-stack, AI-enabled commercial insurance platform specializing in medical professional liability coverage, recently launched coverage for physicians and physician groups in their online platform. Select brokers can now shop for and bind coverage for physician and medical group clients.

According to NOW, the platform utilizes a state-of-the-art underwriting process that allows brokers to receive a quote using only the physician’s or group’s national provider identifier (NPI) number. No application is needed. Clean accounts will return a quote in just minutes, an improvement over traditional malpractice quoting that can take weeks of information gathering and back and forth with an underwriter.

“We’re thrilled to bring our technology to the market for physicians’ malpractice coverage. We’re confident both brokers and physicians will be impressed with the efficiency and the coverage,” said Philip Cabaud, NOW Insurance founder and chief executive officer.

The simple online platform has a clean and easy-to-use interface. Brokers and teams can manage all their opportunities in one place, check status and communicate with an underwriter inside the portal.

“The platform gathers nearly all the information needed to effectively underwrite this class without an application, lifting a burden off the broker and their clients,” said Patrick O’Doherty, Now Insurance executive vice president of underwriting. “The data that informs the underwriting is more robust, and crucially, more accurate, than anything else in the market.”  

BETA Healthcare Group Maintains its “A” (Excellent) Rating from A.M. Best

November 30, 2023 by matray

The Horton Group Acquires Physician’s Armor Insurance Services

November 16, 2023 by matray

The Horton Group announce the acquisition of Physician’s Armor Insurance Services. PAIS insures physician practices in Florida, Georgia, Alabama, Tennessee, Mississippi, Texas, Oklahoma, Kentucky, Indiana, Illinois and Michigan. Horton’s Healthcare Practice currently insures more than 3,000 medical professionals, hospitals and related healthcare entities across the United States.

PAIS was formed by its founders, Kriston Kent, MD, MPH, and Steve Adler, to represent their physician colleagues and help them navigate the difficulties of obtaining insurance, especially medical liability insurance.

“The acquisition by The Horton Group brings additional resources to the PAIS team,” said Mike Madey, healthcare practice leader at The Horton Group. “With the complexities in today’s healthcare industry, it is imperative for providers to have an insurance partner who understands their unique needs. Our Healthcare Practice is not just about offering more policies but crafting the right solutions that align with the specific challenges and needs of the healthcare community in Florida and the Southeast.”

Arthur J. Gallagher Acquires Coverys Insurance Services

November 16, 2023 by matray

Arthur J. Gallagher & Co. announced it has acquired certain assets of the retail agency business Coverys Insurance Services. Terms of the transaction were not disclosed.

Headquartered in East Lansing, Mich., Coverys Insurance Services is a full-service insurance broker specializing in medical professional liability for healthcare clients throughout Michigan. The Coverys Insurance Services team will remain in their current location under the direction of Ryan Isaacs, head of Gallagher’s Midwest-region retail property-and-casualty brokerage operations.

“Coverys Insurance Services is a highly regarded agency whose deep healthcare expertise provides significant opportunities for growth in the region,” said J. Patrick Gallagher, Jr., Arthur J. Gallagher & Co. chairman, president and chief executive officer. “I am very pleased to welcome the Coverys Insurance Services team to Gallagher.”

Arthur J. Gallagher & Co. is a global insurance brokerage, risk management and consulting services firm, headquartered in Rolling Meadows, Ill. Gallagher provides these services in approximately 130 countries globally through its owned operations and a network of correspondent brokers and consultants.

Integris Group Announces Election of Gabriel Gambardella, DPM, to the Board of Directors

November 15, 2023 by matray

Integris Group announced the election of Gabriel Gambardella, DPM, to the Integris Group Board of Directors. Gambardella’s term began on Nov. 1, 2023.

“We are pleased to welcome Dr. Gambardella to the Board of Directors, where we are certain he will have an immediate impact,” said Stephen J. Gallant, chief executive officer of Integris Group. “His leadership skills, along with his business savvy and years in the medical field, will prove to be an asset in the continued expansion of the company.”

Gambardella is a podiatric surgeon with more than a decade of history with the Integris, as both a policyholder and later as a member of the Risk Management and Underwriting Committees. Owner and vice president of Bloomfield Foot Specialists in Bloomfield, Conn., Gambardella is also the section chief, podiatric foot and ankle surgery, at St. Francis Hospital and a Connecticut Podiatric Medical Association Board Member.

John Livatino Joins QBE North America as Senior Vice President, Head of Healthcare

November 14, 2023 by matray

QBE North America today announced that John Livatino has joined the company as senior vice president and head of healthcare liability, reporting to Dan Fortin, president of specialty insurance. Livatino joins QBE following 25 years of underwriting experience in specialty insurance.

In his new role, Livatino will be responsible for planning, directing and executing the vision for the healthcare liability segment at QBE by leveraging his deep expertise and strong cross functional relationships. Furthermore, he will lead the establishment and oversee the execution of a consistent and coordinated underwriting approach that supports business excellence and realization of our strategy.

"We're excited to welcome John to this role, as QBE develops its healthcare liability segment,” said Dan Fortin. "With decades of experience in the specialty insurance market, invaluable leadership skills, and extensive underwriting expertise, he has a standard of excellence that we are excited to leverage during this next phase of development. John has a deep knowledge of the healthcare industry, and I have the utmost confidence that he will help drive sustainable organizational growth and position QBE for long-term success in this market.”

Before joining QBE, Livatino held several leadership roles at Beazley and Markel Corp.

EmPRO CEO Shulan Honored with “Trailblazer Award” at Chinese American Medical Society and Coalition of Asian-American IPA Annual Red Lantern Gala

November 14, 2023 by matray

In a grand celebration at Pier 60 Chelsea Piers in New York City, Bruce Shulan, president and chief executive officer of EmPRO Insurance Company, was honored with the distinguished "Trailblazer Award" at the Chinese American Medical Society (CAMS) and Coalition of Asian-American IPA (CAIPA) annual Red Lantern Gala on November 4. The event highlighted the outstanding achievements of Shulan and also marked the significant milestone of CAMS' 60th Anniversary.

"This recognition by CAMS and CAIPA is deeply meaningful to me as their commitment to eliminating health disparities and advancing medical knowledge, especially within the Chinese American community, mirrors the values we uphold at EmPRO,” said Shulan upon receiving the award. “It's not individual achievements, but collective effort of a great team that makes a real difference."

Established in 1963, the CAMS mission is to improve the health status of Chinese Americans and to promote excellence in healthcare for all. The society's primary objectives include eliminating health disparities of Chinese Americans and other underserved populations, advancing medical knowledge through education, research, scholarship and philanthropy with a specific focus on aspects unique to Chinese Americans, and promoting and advocating for medical professionals of Chinese descent and like-minded individuals.

CAIPA is one of the most successful independent practice associations in Greater New York with over 1,800 private practice providers, covering over 70 specialties. CAIPA provides medical services and care to about half-a-million patients in the Asian community.

"CAMS and CAIPA’s shared mission and commitment is truly inspiring,” Shulan added. “Through education and philanthropy, these organizations have showcased the importance of unity in achieving a common goal, and I'm both humbled and invigorated to be associated with these great organizations."

Shulan's recognition as a trailblazer in the medical malpractice industry resonates with his impressive professional journey. A senior executive, Shulan has a remarkable history of steering insurance businesses through transformative periods, fostering stability and sparking substantial growth. Under his leadership at EmPRO, the company has demonstrated a commitment to financial discipline, operational enhancements, outstanding customer service and state-of-the-art technology.  

Medical Liability Monitor November 2023 issue highlights

November 9, 2023 by matray

Below are some headlines and article synopses from the November 2023 issue of Medical Liability Monitor. To read the articles in entirety, please subscribe today.

Court of Appeals Declares Law Granting Civil-Liability Immunity to Healthcare Professionals During COVID Pandemic Unconstitutional
The Arizona Court of Appeals recently decided that the state’s law granting immunity from civil liability to healthcare providers and institutions acting in good faith during the COVID-19 pandemic is unconstitutional. The Court of Appeals also rejected the Mayo Clinic’s argument that the claim was prohibited by the PREP Act because the ABG stick at the heart of the case did not fall within the federal law’s definition of a COVID-19 countermeasure …

Curi Holdings, Constellation Complete Merger to Offer Scale the Modern Healthcare Delivery System Requires
Curi Holdings and Constellation closed their previously announced merger last month. Both mutual holdings companies, the combined entity now operates under the name Curi, creating a unified national brand. With more than $2 billion of consolidated assets and nearly $400 million in revenue, the merged organization now serves more than 50,000 physicians, healthcare providers and organizations across the U.S. …

U.S. District Court of Minnesota Sets Aside Record Noneconomic Damage Award
The U.S. District Court for the District of Minnesota conditionally granted a motion for a new trial last month on the issue of noneconomic damages in the case Thapa v. St. Cloud Orthopedic Associates. The plaintiff has until November 28 to file a letter stating whether he will agree to remit the jury’s award of noneconomic damages from $110 million to $10 million. If the plaintiff chooses to remit, the court will enter judgment. If the plaintiff chooses not to remit, the court will schedule a new trial on the issue of noneconomic damages …

NJ PURE Exiting Medical Professional Liability Insurance Market
New Jersey Physicians United Reciprocal Exchange (NJ PURE) announced it is exiting the medical professional liability insurance marketplace and has entered into a relationship designed to offer its insureds access to a leading A-rated medical liability carrier with The Doctors Company Risk Retention Group (RRG). NJ PURE will nonrenew all medical professional liability insurance policies during a period not to exceed three years. Nonrenewals will start with policies with effective dates on or after Nov. 30, 2023 …

Despite Increased Reliance on Advanced Practice Providers, their Claims Rate is Shrinking
A new report from Candello discovered that despite the healthcare delivery system’s increasing reliance on advance practice providers (APPs), the overall claims rate for nurse practitioners (NPs) and physician assistants (PAs) appears to be declining. According to Candello’s analysis of 65,754 MPL claims closed between 2012 and 2021, the proportion of MPL claims in which an NP or PA had contributory involvement was just 8%, and they were named as defendants in only 2% of cases. Adjusted for practice population increases, it appears the overall claims rate for APPs declined …

US Senator Questions Google About its AI Healthcare Chatbot Technology
U.S. Sen. Mark Warner, chairman of the Senate Select Committee on Intelligence, urged Google chief executive officer Sundar Pichai to provide greater clarity into his company’s deployment of Med-PaLM 2, an artificial intelligence (AI) chatbot currently being tested in healthcare settings. In a letter sent last month to the multinational technology company, Sen. Warner expressed his concern about reports of inaccuracies in the technology, calling on Google to increase transparency, protect patient privacy and ensure ethical guardrails ...

Integris Group Announces Purchase of MedMal Direct Insurance Co.
Integris Group announced last month that it has entered an agreement to purchase 100% of the stock of MedMal Direct Insurance Co., a direct-to-consumer medical professional liability (MPL) insurance company, and its agency CorePRO Insurance from Physicians Trust, Inc. (PTI). The transaction is expected to close by late December 2023, subject to PTI shareholders and regulatory approval …

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