Professional liability insurance

MLMIC Insurance Company Announces New CEO

Wednesday, May 12, 2021 - 8:10pm

b'MLMIC Insurance Company (MLMIC), the leading medical professional liability insurer in New York, is pleased to announce that Michael J. Schoppmann, Esq., has become Chief Executive Officer (CEO) and Vice Chair, effective May 12, 2021.

Key Points: 
  • b'MLMIC Insurance Company (MLMIC), the leading medical professional liability insurer in New York, is pleased to announce that Michael J. Schoppmann, Esq., has become Chief Executive Officer (CEO) and Vice Chair, effective May 12, 2021.
  • He has been instrumental in the transition of MLMIC from a mutual insurance company to a member of the Berkshire Hathaway family.
  • \xe2\x80\x9cI look forward to continuing to work with Mike, and all of our leadership team, to develop and deliver exceptional medical professional liability insurance products and services in New York.\xe2\x80\x9d\nMLMIC Insurance Company is the largest medical professional liability insurer by direct written premium in New York.
  • It was formed in 1975 and became a member of the Berkshire Hathaway insurance companies in 2018.

Positive Physicians Insurance Company Expands Market Presence in Southeast U.S. with Admitted Carrier Status in Florida and Georgia

Tuesday, May 4, 2021 - 9:34pm

b'Positive Physicians Insurance Company (the \xe2\x80\x9cCompany\xe2\x80\x9d) has been approved by the Florida and Georgia Departments of Insurance to offer medical malpractice insurance within their respective states.

Key Points: 
  • b'Positive Physicians Insurance Company (the \xe2\x80\x9cCompany\xe2\x80\x9d) has been approved by the Florida and Georgia Departments of Insurance to offer medical malpractice insurance within their respective states.
  • The Company obtained admitted status in Florida in February and Georgia in March and is currently in the process of obtaining approval for its premium rates before writing business in each state.\nDr.
  • The Company underwrites medical professional liability coverage for physicians, their corporations, medical groups, clinics and allied healthcare providers.
  • Medical professional liability insurance protects physicians and other healthcare providers against liabilities arising from the rendering of, or failure to render, professional medical services.

At-Bay Enhances Tech E&O Experience to Expedite Quoting Process

Tuesday, May 4, 2021 - 4:00pm

b'At-Bay, the insurance company for the digital age, today launched a new Technology Errors and Omissions quoting experience with an intuitive online application and an expanded auto-quote appetite.\nAt-Bay\xe2\x80\x99s enhanced Tech E&O quoting journey provides wholesale brokers with an easy way to get instant, bindable quotes through the company\xe2\x80\x99s digital platform.

Key Points: 
  • b'At-Bay, the insurance company for the digital age, today launched a new Technology Errors and Omissions quoting experience with an intuitive online application and an expanded auto-quote appetite.\nAt-Bay\xe2\x80\x99s enhanced Tech E&O quoting journey provides wholesale brokers with an easy way to get instant, bindable quotes through the company\xe2\x80\x99s digital platform.
  • Easing the burden of the quoting process, the new offering includes:\n\xe2\x80\x9cAt-Bay\xe2\x80\x99s mission has always been to combine industry-leading insurance with world-class technology, and our enhanced Tech E&O experience embodies that mission,\xe2\x80\x9d said Brett Sadoff, Head of Insurance at At-Bay.
  • \xe2\x80\x9cWe established a new standard last year when we started offering the first automatically underwritten Tech E&O policy .
  • \xe2\x80\x9cWe\xe2\x80\x99ve streamlined the quoting journey for our broker partners, which allows them to move faster and do more business.

CAMICO Posts Gain in Policyholders’ Surplus

Monday, May 3, 2021 - 6:30pm

b'CAMICO ( www.camico.com ), the nation\xe2\x80\x99s largest CPA-owned and directed program of insurance and risk management for the accounting profession, posted total policyholders\xe2\x80\x99 surplus of more than $45 million for the year ended December 31, 2020, up from $43.5 million posted for 2019.\nCAMICO\xe2\x80\x99s policyholder retention rate for 2020 was 94 percent, consistent with the company\xe2\x80\x99s historical retention rate, and CAMICO continues to maintain key financial ratios at historically high levels.\nThe company\xe2\x80\x99s results are detailed in its 2020 Operations Report , which has been posted online at www.camico.com along with 2020 financial statements.\n\xe2\x80\x9cThe significant challenges of 2020 have served to further sharpen our focus on the CPA profession,\xe2\x80\x9d said Andrew M. Eassa, CPA, CVA, CAMICO chairman of the board.

Key Points: 
  • b'CAMICO ( www.camico.com ), the nation\xe2\x80\x99s largest CPA-owned and directed program of insurance and risk management for the accounting profession, posted total policyholders\xe2\x80\x99 surplus of more than $45 million for the year ended December 31, 2020, up from $43.5 million posted for 2019.\nCAMICO\xe2\x80\x99s policyholder retention rate for 2020 was 94 percent, consistent with the company\xe2\x80\x99s historical retention rate, and CAMICO continues to maintain key financial ratios at historically high levels.\nThe company\xe2\x80\x99s results are detailed in its 2020 Operations Report , which has been posted online at www.camico.com along with 2020 financial statements.\n\xe2\x80\x9cThe significant challenges of 2020 have served to further sharpen our focus on the CPA profession,\xe2\x80\x9d said Andrew M. Eassa, CPA, CVA, CAMICO chairman of the board.
  • \xe2\x80\x9cAs we celebrate CAMICO\xe2\x80\x99s 35th anniversary in 2021, we will continue to stand by our policyholders with expertise and guidance, no matter the size or complexity of the problem, regardless of market or economic conditions.\xe2\x80\x9d\nCAMICO delivers insurance, risk management and related services to more than 8,000 CPA firms and 50,000 staff members in 49 states and the District of Columbia.
  • Founded in 1986, CAMICO is endorsed by state CPA societies and associations in Alaska, Arizona, California, Colorado, Greater Washington D.C., Idaho, Indiana, Kansas, Mississippi, Missouri, Nevada, New Jersey, New York, Oregon, Tennessee, Utah, Virginia and Washington.
  • CAMICO provides Professional Liability Insurance, Employment Practices Liability Insurance, and other insurance products needed by CPA firms.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210503005529/en/\n'

360 Coverage Pros Launches Tax Preparer Professional Liability Insurance Program

Monday, March 29, 2021 - 9:00am

LAKEWOOD RANCH, Fla., March 29, 2021 /PRNewswire-PRWeb/ --360 Coverage Pros announced today the launch of a new professional liability insurance program for tax preparers with a fast, easy online application.

Key Points: 
  • LAKEWOOD RANCH, Fla., March 29, 2021 /PRNewswire-PRWeb/ --360 Coverage Pros announced today the launch of a new professional liability insurance program for tax preparers with a fast, easy online application.
  • Tax Preparer Professional Liability Insurance helps protect against allegations of professional negligence and litigation that can result in legal judgments, settlements and out-of-pocket attorney defense costs.
  • This program offers broad coverage options for tax work and services, including permitting insureds to provide payroll, general business planning and other services.
  • "Our intention is to fill a gap within the professional liability market for tax professionals to obtain a comprehensive policy within minutes that doesn't break the bank.

Lesotho Insurance Industry Governance, Risk and Compliance Report 2020 - ResearchAndMarkets.com

Thursday, February 11, 2021 - 1:58pm

The "Lesotho Insurance Industry - Governance, Risk and Compliance" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Lesotho Insurance Industry - Governance, Risk and Compliance" report has been added to ResearchAndMarkets.com's offering.
  • It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance.
  • Insurance premium tax is not imposed on insurance products and services in Lesotho.
  • Motor third-party liability insurance and professional indemnity insurance for insurance brokers is compulsory in Lesotho.

360 Coverage Pros Announces Expansion of Lawyer Malpractice Insurance Program to Texas and Illinois

Thursday, January 28, 2021 - 8:00am

LAKEWOOD RANCH, Fla., Jan. 28, 2021 /PRNewswire-PRWeb/ --360 Coverage Pros announced the expansion of its Lawyer Malpractice Insurance Program to two new states: Texas and Illinois.

Key Points: 
  • LAKEWOOD RANCH, Fla., Jan. 28, 2021 /PRNewswire-PRWeb/ --360 Coverage Pros announced the expansion of its Lawyer Malpractice Insurance Program to two new states: Texas and Illinois.
  • "Most of our top-rated Lawyer Malpractice Insurance carriers write business in these two states," says Jake Healy, 360 Coverage Pros program manager.
  • Since Berkley was already licensed in Texas and Illinois and had competitive rates, it made sense to partner with the company for Lawyer Malpractice Insurance Program, Program Manager Jake Healy, said.
  • Lawyer Malpractice Insurance from 360 Coverage Pros provides comprehensive coverage options for attorneys in various practice settings, from sole proprietors to firms with up to 19 lawyers.

NFP Continues Growth of Management and Professional Liability Practice in Canada with Addition of Industry Veteran Scott Saddington

Tuesday, January 12, 2021 - 2:00pm

Saddington joins NFP with over 28 years of industry experience.

Key Points: 
  • Saddington joins NFP with over 28 years of industry experience.
  • His expertise includes due diligence, negotiation and placement of directors and officers insurance, cyber liability, errors and omissions insurance, kidnap and ransom, employment practices liability, and fiduciary liability risk transfer insurance for large and complex risks.
  • "I'm excited to join NFP and play an active role in driving growth across Canada," said Saddington.
  • Hot Paper Lantern for NFP, NFP, 212-931-6184, nfp@hotpaperlantern.com

MagMutual, one of the nation's leading healthcare liability insurers, declares policyholder dividend for 2021

Monday, January 11, 2021 - 7:00pm

ATLANTA, Jan. 11, 2021 /PRNewswire-PRWeb/ -- MagMutual Insurance Company, one of the nation's leading providers of medical professional liability insurance, announced it will be returning a 7% dividend to its PolicyOwners again this year.

Key Points: 
  • ATLANTA, Jan. 11, 2021 /PRNewswire-PRWeb/ -- MagMutual Insurance Company, one of the nation's leading providers of medical professional liability insurance, announced it will be returning a 7% dividend to its PolicyOwners again this year.
  • This marks 22 years of dividends and over $315M in financial rewards returned to PolicyOwners since inception.
  • Providing coverage to more than 30,000 physicians and healthcare organizations nationwide, MagMutual is currently the third largest mutual medical professional liability insurer in the country.
  • For nearly four decades, MagMutual has been a leading provider of medical professional liability insurance.

COVID-19 Impact and Recovery Analysis | Professional Indemnity Insurance Market Procurement Intelligence Report Forecasts Spend Growth of Over USD 7.79 Billion | SpendEdge

Monday, December 14, 2020 - 5:10pm

The Professional Indemnity Insurance Market is poised to experience spend growth of more than USD 7.79 billion between 2020-2024 at a CAGR of over 3.51%.

Key Points: 
  • The Professional Indemnity Insurance Market is poised to experience spend growth of more than USD 7.79 billion between 2020-2024 at a CAGR of over 3.51%.
  • View the full release here: https://www.businesswire.com/news/home/20201214005286/en/
    SpendEdge has announced the release of its Global Professional Indemnity Insurance Market Procurement Intelligence Report (Graphic: Business Wire)
    Read the 120-page research report with TOC and LOE on "Professional Indemnity Insurance Market Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend."
  • Our Professional Indemnity Insurance Market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation.
  • This Professional Indemnity Insurance Market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.