Business Moves

Medicus Insurance Company

Medicus Insurance Company has been approved to write medical professional liability insurance in Arkansas.

Medicus is a Texas-based insurance company specializing in providing medical professional liability insurance to physicians, surgeons and ancillary medical providers. Coverage will be available throughout Arkansas. The company is capitalized with a $100 million facility backed by The Cypress Advisors and CHL Medical Partners. Medicus has licenses to do business in 16 states.

Medicus uses professional independent agents and brokers as its distribution system. It offers all its insured doctors professional risk management and loss prevention services, and is able to customize its insurance policies to the needs of physicians, the company’s announcement said.

CAA

Texas-based Combined Agents of America LLC (CAA) reported that four of its member agencies, Bigham-Kliewer-Chapman-Watts, Bryan Insurance, Pierson & Fendley and Weatherby-Eisenrich, have retained their status as “Best Practices” agencies for 2008-09. As such, they will continue to participate in the Independent Insurance Agents and Brokers of America (IIABA) “Best Practices” Study Group.

Additionally, Bigham-Kliewer-Chapman-Watts Insurance Agency was named the “Best Practices Top Performer” in the revenue category of $2.5 million to $5 million.

These CAA member agencies originally qualified in 2007 for this status by ranking among the 25-35 top-performing agencies in one of six revenue categories in the annual Best Practices Study conducted by IIABA and Reagan Consulting of Atlanta, Ga.

To retain the Best Practices Agency status this year, these four CAA member agencies had to submit year-end results for review to re-qualify as one of the top performers in their revenue category.

Begun in 1993, this annual study of leading independent insurance agencies documents the business practices of these “best” agencies and urges others to adopt similar practices. Each agency must qualify based on outstanding customer services, growth, stability and financial management.

Medical Protective

Medical professional liability insurer Medical Protective announced a 6.2 percent average rate decrease for physicians in Texas, effective Jan. 1, 2009.

The rate change represents the sixth rate reduction for the insurer in the last four years. Cumulatively, the company has lowered malpractice premiums in Texas by an average of more than 37 percent.

Medical Protective cited “moderating trends in loss costs” for its ability to lower rates again. It attributed tort reform implemented in Texas in 2003 as one of the reasons for reduced severity and frequency of claims in the state.

The company has more than 9,000 policyholders in Texas.

Confie Seguros, Alamo Auto Insurance

Confie Seguros, a provider of auto insurance with an emphasis on serving Hispanic consumers, has acquired auto insurance brokerage Alamo Auto Insurance. The acquisition of San Antonio-based Alamo expands Confie Seguros’ presence beyond its platform in California and continues its pace towards building the leading national insurance distribution company primarily focused on the needs of Hispanic consumers.

Confie Seguros is building a national distribution company focusing on eight to 10 of the most densely populated Hispanic markets, including California, Arizona, Florida, Texas, Illinois, and Nevada. Alamo has more than eight brokerage locations, bringing to nearly 90 the total number of Confie Seguros retail brokerage stores in California and Texas.

Confie Seguros recruited insurance industry veteran Peter Gomez as senior vice president to lead the Texas expansion. He has more than 12 years of experience running large, nonstandard auto insurance retail brokerages in Texas, Illinois and California.

In addition to providing auto insurance, Confie Seguros expects to begin offering life insurance in the first quarter of 2009.

Apex Global Partners

Dallas, Texas-based Apex Global Partners opened a new aviation insurance office in Charleston, S.C., and appointed Paul Gingrich as vice president in its aviation division.

Apex Global Aviation Services provides insurance brokerage and risk management consulting to corporate aircraft owners, airlines, and the aviation support industries, both domestically and internationally.

AMG, Starmark

AMG, an independent privately-owned brokerage general agency based in Houston, is now managing general agent for Starmark to offer healthcare for small businesses.

Starmark specializes in group healthcare benefits and serves businesses with two or more employees. Trustmark Life Insurance Company, a subsidiary of Trustmark Mutual Holding Company, insures the fully insured plans and provides stop-loss insurance for the self-funded plans.

Trustmark Mutual Holding Company has assets of more than $1.7 billion and administers more than $3 billion in health and life benefits annually, according to the company’s announcement.

AMG serves independent producers as a single brokerage source for group insurance, life insurance, retirement planning and broker/dealer affiliation. AMG also provides services, education and sales assistance, and is a LifeMark Partners agency.

Topics California Texas