MedPro Group (MedPro) is pleased to announce that it has entered into a definitive agreement with Swiss Re Corporate Solutions (SRCS) to acquire the renewal rights to SRCSs Healthcare Professional Liability book of business effective October 11, 2019.
The agreement includes Hospital and Senior Care accounts underwritten by SRCS from the US, as well as US Hospital and International Healthcare Professional Liability accounts underwritten by SRCS from London and other offices around the world.
This transaction is further evidence of our unwavering dedication to the challenging healthcare liability market in the US and, increasingly, around the world, said Jean-Paul Rebillard, President, MedPro Specialty. We are excited by this opportunity because Swiss Re Corporate Solutions healthcare professional liability clients and approach to underwriting and service complement our industry-leading Specialty business that provides solutions to healthcare organizations of all types.
Current SRCS policyholders will be eligible to receive renewal offers from MedPro and its affiliates upon the expiration of their policies. To help ensure seamless service, several key members of the SRCS healthcare team are joining MedPro.
MedPro CEO Tim Kenesey added that more healthcare providers choose MedPro over any other insurer because of our century-long commitment to delivering unsurpassed peace of mind, expertise and choice to healthcare providers and organizations. And, as Berkshire Hathaways chairman Warren Buffett has said, ˜MedPro is also now a favored solution for owners of healthcare liability insurers who seek the worlds most stable home for their policyholders in an increasingly unstable healthcare liability landscape.
About MedPro Group “ As the USAs first provider of healthcare liability (HCL) insurance, MedPro Group “ a Berkshire Hathaway company “ has protected the assets and reputations of the healthcare community since 1899. With over $1.6 billion in premium, MedPro Group is the leader in customized insurance, claims and patient safety & risk solutions for more than 250,000 physicians, surgeons, dentists and other healthcare professionals, as well as hospitals, senior care and other healthcare facilities. HCL insurance products in the USA are administered by MedPro Group and underwritten by The Medical Protective Company, Princeton Insurance Company, PLICO, Inc., MedPro RRG Risk Retention Group and other Berkshire Hathaway affiliates, including National Fire & Marine Insurance Company, all of which have earned financial strength ratings of A++ from A.M. Best.
Additionally, MedPro Group provides HCL insurance around the globe, delivers liability solutions to professionals in fields beyond healthcare, and offers specialized health insurance solutions to colleges and other customers. These additional products are administered by MedPro Group and underwritten by Berkshire Hathaway affiliates, including Berkshire Hathaway International Insurance Limited, Berkshire Hathaway European Insurance DAC and National Liability & Fire Insurance Company, AttPro RRG Reciprocal Risk Retention Group and the Wellfleet insurance companies.
President, MedPro Specialty