Boston, MA (PRWEB) April 14, 2014
Coverys, a leading provider of medical professional liability insurance, is pleased to announce it has partnered with Academic Medical Professional Insurance RRG, LLC (“AMPI RRG”), a member insurance company of Academic Group.
AMPI RRG, a risk retention group domiciled in Vermont, provides professional liability insurance coverage to domestic medical professionals, foreign physicians temporarily in the U.S. and visiting students. AMPI RRG operates independently and is owned and capitalized by its subscribers. The organization is committed to supporting medical professionals and offers policies designed to cover clinical rotations domestically and abroad to eligible U.S. students.
“The partnership between Coverys and AMPI RRG provides the opportunity to reach medical professionals who currently may not have access to specialized services within their current insurance program. It will allow both organizations’ programs to expand while maintaining quality services and continuing to provide superior products to the medical professional liability marketplace,” said Gregg L. Hanson, CEO and president of Coverys.
“Academic has been committed to serving medical educators for over two decades. This partnership greatly enhances and enriches our ability to offer available coverage and medico-legal education services across the full academic spectrum from faculty, residents, nurses and medical students on clinical rotations. We are excited about bringing our brand and knowledge to Coverys, a physician first company that shares so many values with our leadership,” said Martin Kern, executive director of Academic.
Through this collaboration, Coverys will provide financial stability, reinsurance support and enhance the medical professional liability program offered through AMPI RRG. The partnership reflects Coverys’ strategic direction regarding continued expansion of its service footprint and geographic growth.
For more information about Coverys, contact Loren LeVasseur, public relations specialist, at (617) 946-8665 or llevasseur(at)coverys(dot)com.
For more information about Academic, contact our senior marketing representative, Jay Roberts, at jayroberts(at)academicins(dot)com.
Coverys is the eight largest medical professional liability insurance provider in the country based on direct written premium. Coverys member companies insure more than 25,000 physicians, surgeons, dentists, certified nurse midwives and allied healthcare providers, as well as more than 500 hospitals, health centers and clinics in 26 states from coast to coast. Coverys has net admitted assets of $3.4 billion, direct written premium of $363 million and policyholder surplus of $1.4 billion, as of December 31, 2013. In addition, Coverys member insurance companies Medical Professional Mutual Insurance Company (“ProMutual”) and ProSelect Insurance Company (“ProSelect”), as well as ProMutual-sponsored Coverys RRG, Inc. (“Coverys RRG”) have a Best’s Rating of A (Excellent). MHA Insurance Company (“MHAIC”) and Washington Casualty Company (“WCC”) have a Best’s Rating of A- (Excellent).
On January 1, 2014, Coverys acquired OHA Holdings, Inc. and its wholly owned insurance subsidiary, OHA Insurance Solutions, Inc., an Ohio domestic insurance company.
Coverys emphasizes physician education and patient safety, and the company is acknowledged as a leader in providing supportive risk management services and resolute claim defense to the healthcare community. Coverys also offers a variety of interactive and relevant continuing medical education (CME) activities to healthcare providers across the United States. For more information, visit the Coverys website at http://www.coverys.com. Timely industry and company news can also be found on the Coverys blog at coverys.wordpress.com, on Twitter (@Coverys) and on the company’s Facebook page.
About Academic Group
The Academic Group consists of two independent insurance companies offering members a comprehensive set of insurance products and services to medical educators. In addition to AMPI RRG, Academic Health is dedicated to the specific mission of insuring physicians who train doctors, and treat patients, in New York State’s public teaching hospitals and similar institutions. Academic Solutions manages both companies and provides professional liability underwriting, financial, claims, and medico-legal educational services as well as insurance management and consulting services to captives and physician groups.