MedMal Direct Insurance Company, an insurer that provides medical malpractice insurance directly to physicians in Florida, Georgia, North Carolina and Texas, has agreed a new reinsurance treaty with a panel of international reinsurance companies.
MedMal Direct is the only medical malpractice insurance carrier to exclusively offer its policies direct to physicians. The company said the new deal will allow it to continue providing the market with competitive medical malpractice insurance premiums.
MedMal Direct said its reinsurance partners all have a financial stability rating of A+ (Superior) or A (Excellent) from AM Best.
Tim Bone, President of MedMal Direct, said: "We are excited and honored to see such strong support from some of the most prestigious professional liability reinsurers in the world. The strong relationships with our reinsurance partners allow us to enhance our product capability and to provide additional financial strength and stability to our insureds.”
Butler Ball, chief executive of MedMal Direct, said: “We are creating a paradigm shift in the market which is having a net-positive effect on the entire healthcare industry. We are reducing physicians' overhead every single day by cutting out the middleman and selling direct; it feels good to be a part of the solution."