A Vermont Superior Court has approved a state takeover and rehabilitation plan for a medical professional liability insurer for 1,300 physicians that the state says is in hazardous financial condition as a result of a $35.4 million arbitration judgment against …
Thousands of Massachusetts medical professionals and other employees of troubled hospital operator Steward Health Care are at risk because Steward does not have adequate liability or workers’ compensation coverage in place to protect them after Steward exits the state, officials …
Coverys Ltd., a UK entity in the Coverys Group of Companies, has received regulatory authority to launch a London company market insurer, effective June 26. Coverys Ltd. is part of Coverys’ dedicated London platforms which include both insurance company and …
National specialty insurance brokerage Risk Strategies announced it has acquired Professional Risk Associates, Inc. (PRA), a Virginia-based specialty healthcare insurance agency focused on medical professional liability. Founded in 1989 and licensed in 36 states, PRA counts more than 6,000 medical …
NOW Insurance, an artificial intelligence-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 …
A recent report by the Medical Professional Liability Association shows the medical professional liability insurance sector’s combined ratio improved from 108.1% in 2021 to 102.2% in 2022 – marking the industry’s best performance since 2017. However, the industry still has …
Curi Holdings, Inc. and Constellation, Inc., two of the nation’s leading providers of medical professional liability (MPL) insurance, have signed an agreement to merge. Curi CEO Jason Sandner will remain CEO of Curi Holdings, Inc. Constellation President & CEO Ryan …
Two New York hospitals have agreed to pay more than $165 million to 147 former patients who have accused a former gynecologist of sexual abuse and misconduct. Columbia University Irving Medical Center and NewYork-Presbyterian announced the agreement Friday. Last year, …
Despite a slight improvement in net income in 2020, U.S. medical professional liability (MPL) insurers saw their sixth consecutive year of underwriting losses, according to a new AM Best report. According to the new Best’s Special Report, “Continued Uncertainty Clouds …
Healthcare liability insurer ProAssurance Corp. has agreed to acquire medical professional liability insurer NORCAL Mutual Insurance Co. following NORCAL’s demutualization in a $450 million transaction. Based on available estimates of premium, the combination of these companies is expected to create …
