MedMal Direct Reaches Milestone of 1,000 Insureds
September 24, 2012
JACKSONVILLE, Fla.—(BUSINESS WIRE)—Jacksonville-based MedMal Direct Insurance Company just announced that it exceeded 1,000 insureds in September 2012.
MedMal Direct, one of the most exciting and fastest growing medical professional liability insurance carriers in the country, was formed in June 2010 and now insures over one thousand physicians, surgeons, allied healthcare professionals and healthcare facilities in Florida. Now in its third year of operations, MedMal Direct has accumulated over $15 million in assets, has over $9 million in surplus and has built very strong support within the international reinsurance community, which is essential to protecting those assets. MedMal Direct provides an unwavering commitment to service, defense and financial stability.
Butler Ball, Chief Executive Officer of MedMal Direct, said, “We are proud of the accomplishments to date and reaching one thousand insureds is another indication that Florida’s physician community has embraced MedMal Directs’ unique distribution model.”
“Florida physicians are operating in a complex and challenging environment with rising costs and falling reimbursement rates. MedMal Direct has helped stabilize their professional liability costs so they have more resources to invest in providing the highest quality healthcare to their patients,” said Tim Bone, President of MedMal Direct.
About MedMal Direct Insurance Company:
MedMal Direct Insurance Company (MedMal Direct) is a Florida stock insurance company that provides medical malpractice insurance directly to physicians, enabling physician practices to realize significant savings on one of their largest expenses — medical professional liability insurance premiums. MedMal Direct has earned a Financial Stability Rating® of A, Exceptional, from Demotech, Inc. and is backed by a panel of A.M. Best A (Excellent) rated reinsurers with over $25 billion in assets. With a strong balance sheet, conservative underwriting philosophy, and outstanding litigation management, MedMal Direct provides physician practices with the comfort and protection they need at a lower price. “It’s Better To Be Direct.” Visit https://medmaldirect.com for more information.