MedPro Group's A++ Ratings Reaffirmed by A.M. Best
Healthcare liability leader also highlights recent achievements
Fort Wayne, IN – June 2, 2015 – MedPro Group (MedPro) is pleased to announce that A.M. Best has reaffirmed the A++ (Superior) ratings of its members, including The Medical Protective Company, Princeton Insurance Company and MedPro RRG Risk Retention Group.
As stated in a May 27, 2015 A.M. Best press release:
"These ratings reflect MedPro's excellent balance sheet strength, its favorable long-term operating performance and the significant market position it maintains in the medical professional liability line of business. The ratings also consider the group's substantial distribution capabilities and aggressive claims handling philosophy. Furthermore, these ratings continue to benefit from the implicit and explicit support provided by MedPro's ultimate parent, Berkshire Hathaway Inc., which includes reinsurance programs, investment opportunities and capital support. … A.M. Best recognizes the organization's strong management team, broad premium base and jurisdictional diversity…"
Established in 1899, MedPro's continued success as the nation's leading healthcare liability insurance carrier can be attributed in part to the following achievements from the past year.
- $874 million in liability premium, protecting and serving more than 140,000 customers;
- Market leadership and disciplined growth across all segments of the healthcare industry:
- Physicians/surgeons and dentists: writing more liability insurance for doctors than any other carrier
- Specialty segments that protect hospitals, healthcare facilities and E&S/special risks
- Healthcare professional coverage insuring CRNAs, NPs, PAs and other individual healthcare providers
- The launch of its Senior Care Division, providing a full range of insurance, claims, patient safety, and risk solutions countrywide
- The launch of its International Division, providing similar services (with its Berkshire Hathaway affiliates) to healthcare providers in the United Kingdom and beyond
- Over 4,000 claims closed with 99% claims satisfaction scores and industry-leading closed without pay and trial win rates
- Issuing over $240 million in premium credits to customers, rewarding their improved patient safety and risk reduction initiatives (with over $1.7 billion in such credits given over the last eight years)
"MedPro is pleased to again receive A.M. Best's highest rating," said Tim Kenesey, MedPro President & CEO. "More healthcare providers are choosing MedPro because we provide unmatched peace of mind, expertise and choice. Our distribution partners and the healthcare providers we together serve know that MedPro is the only insurer offering complete, unique and customized healthcare liability solutions to all providers nationwide."
FOR MORE INFORMATION:Tim Smith
(260.486.0795)
Tim.Smith@medpro.com
About MedPro Group – Berkshire Hathaway's dedicated healthcare malpractice insurance solution
As the nation's first provider of healthcare liability insurance, MedPro Group has been protecting the assets and reputations of the healthcare community since 1899. With over $874 million in annual premium and more than 140,000 customers, MedPro Group is the national leader in customized insurance, claims, patient safety and risk solutions for physicians, surgeons, dentists and other healthcare professionals, as well as, hospitals, senior care and other healthcare facilities. MedPro Group includes The Medical Protective Company, Princeton Insurance Company, PLICO Inc., and MedPro RRG Risk Retention Group. All insurance products are administered by MedPro Group and underwritten by these and other Berkshire Hathaway affiliates, including National Fire & Marine Insurance Company, all of which have earned financial strength ratings of A++ from A.M. Best. Its distribution partners include a nationwide network of licensed agents, brokers and wholesalers. MedPro Group is a Berkshire Hathaway business. www.medpro.com.
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