Berkshire Hathaway’s MedPro Group Expands International Facility Coverage Capabilities for United States Domiciled Risks th...
August 16 2017 - 2:41PM
Business Wire
Berkshire Hathaway’s MedPro Group (“MedPro”) today announced
their participation in the US Jurisdiction medical professional
liability facility of The Medical Professional Liability Company
Ltd (“The MPLC”). Effective June, 1st 2017, MedPro has added its
support to that of existing subscribing Syndicate, Pembroke
Managing Agency Limited Syndicate 4000. Pembroke Managing Agency
Limited is a wholly-owned subsidiary of Ironshore.
Launched in January 2011, the facility offers cover on Lloyd’s
paper to US institutions providing clinical services outside of the
United States. The cover is enhanced by a unique offering of claims
handling solutions, clinical governance review and a 24-hour legal
helpline delivered by The MPLC. MedPro and The MPLC believe the
combination of their respective domestic and international
expertise will provide their clients an unparalleled partner for
underwriting risks that extend beyond U.S. domestic borders.
Maximum limits available for this facility are USD15M for any
one claim and USD30M in the annual aggregate.
John Young, Managing Director of The MPLC said: “We are
delighted to have MedPro’s and Pembroke’s support which will
strengthen our program, especially for MedPro’s producing brokers
and healthcare clients. The offering combines MPLC’s wide
international experience with MedPro’s financial strength and
experience as well as the strength and expertise of the Pembroke
Syndicate at Lloyd’s of London.”
Discussing MedPro’s motivation behind the partnership, Craig
Rowland, Business Development Lead for MedPro’s International
Division said: “Through this facility, we are very pleased to be
able to further support our domestic institutional clients, who
daily trust us to protect their assets and reputations, by now
being able to cover their international risks. It is always our
deepest desire to continually meet the needs of our clients and
serve them as their risks grow and become more complex.”
Tim Glover, Chief Underwriting Officer for Pembroke Managing
Agency said: “We look forward to expanding our successful
partnership with MedPro and The MPLC. Our collective breadth of
experience and distribution will better serve our broker and client
needs.”
About MedPro Group, a Berkshire Hathaway Company: As the
USA’s first provider of healthcare liability insurance, MedPro
Group has protected the assets and reputations of the healthcare
community since 1899. With over $1 billion in annual premium and
more than 200,000 clients, MedPro Group is an industry leader in
customized insurance, claims and patient safety & risk
solutions for physicians, surgeons, dentists and other healthcare
professionals, as well as hospitals, senior care and other
healthcare facilities. MedPro Group includes The Medical Protective
Company, Princeton Insurance Group, PLICO and MedPro RRG Risk
Retention Group, all of which have earned financial strength
ratings of A++ from A.M. Best. For more information, please visit:
www.medpro.com
About The Medical Professional Liability Company: The
MPLC is one of the leading, independently owned providers of
specialized liability insurance in the world. Established in
Gibraltar in 2001, The MPLC’s senior underwriters have over 60
years of experience in this highly specialized area. The MPLC seek
to develop solid long-term relationships and pride themselves on
their superior customer service. As a Lloyd’s coverholder, the MPLC
have the backing of the world’s leading insurance market and are
able to provide cover in countries where Lloyd’s Trading Status is
approved. The MPLC operate to the highest standards of corporate
governance and regulatory compliance. As an insurance intermediary,
the MPLC are licensed and regulated by the Financial Services
Commission (FSC) in Gibraltar. For more information, please visit:
www.the-mplc.com
About Ironshore: Ironshore, a Liberty Mutual Company,
provides broker-sourced specialty property and casualty insurance
coverages for varying risks located throughout the
world. Select specialty coverages are underwritten at Lloyd’s
through Ironshore’s Pembroke Syndicate 4000. The Ironshore
group of companies is rated A (Excellent) by A.M. Best with a
Financial Size Category of Class XIV and A (Stable) by Standard
& Poor’s. Pembroke Syndicate 4000 operates within Lloyd’s
where the market rating is A (Excellent) by A.M. Best, AA- (Very
Strong) by Fitch, and A+ (Strong) by Standard &
Poor’s. For more information, please
visit: www.ironshore.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170816005937/en/
MedPro GroupCraig Rowland,
+1-260-486-0814craig.rowland@medpro.comorThe MPLCJohn Young,
+350 20042238john.young@the-mplc.comorTorranceCo, on behalf of
IronshoreL. Gaye Torrance,
+1-212-691-5810lgtorrance@torranceco.com