A.M. Best Reaffirms ProMutual Group’s A- (Excellent) Rating
December 26th, 2009
One of the leading medical liability insurance companies in the Northeast, ProMutual Group, recently received its thirteenth consecutive A- (Excellent) rating from A.M. Best Company. The nation’s most recognized insurance rating organization based its independent opinion on the company’s financial history, overall capitalization, underwriting practices and conservative reserving practices.
“Thirteen uninterrupted years of an A- (Excellent) rating from A.M. Best Company is an outstanding accomplishment and one that we are very proud of,” said Richard W. Brewer, president and CEO of ProMutual Group. “The reaffirmation of ProMutual Group’s A.M. Best rating attests to the company’s formidable strength and the success of its conservative management and underwriting practices. Looking ahead, we are committed to maintaining our financial stability and providing the high quality resources, services and protection healthcare providers have come to expect from our company.”
The financial stability that has influenced A.M. Best’s decision is the direct result of adherence to prudent underwriting standards, the strong defense of good medicine, effective risk management and conservatively managed investments. This philosophy has served the company well and allowed it to safely weather market disruptions. The company also cites the resources and support services available to policyholders that enhance patient safety and minimize risk, thereby controlling losses.
“By working with our policyholders and providing them with resources to assist in the practice of excellent medicine, we are able to do our part in promoting patient safety and improving the delivery of healthcare,” said Anne Huben-Kearney, ProMutual Group’s vice president of risk management. “In the future, we plan to enhance and expand services and benefits for policyholders while continuing to provide the protection that more than 18,000 healthcare providers and facilities across New England, Pennsylvania and New Jersey depend on.”
Categories: Financial Services |
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