Boston, MA - June 22, 2016
- Coverys companies MHA Insurance Company and Washington Casualty Company received an upgrade from stable to a positive outlook, and A.M. Best affirmed their financial strength Ratings of A- (Excellent). A.M Best also affirmed, for the fourth consecutive year, the A (Excellent) ratings for Coverys companies Medical Professional Mutual Insurance Company, ProSelect Insurance Company, Coverys Specialty Insurance Company and Coverys-sponsored Coverys RRG, Inc. Preferred Professional Insurance Company had its financial strength rating of A- (Excellent) affirmed.
“A.M. Best’s recognition of Coverys’ financial standing validates the board’s and leadership’s decision to strategically expand, addressing the needs of policyholders,” said Dr. Brenda E. Richardson, chair of the Board of Directors.
“Coverys’ success, longevity and financial stability enables us to continue offering leading industry benefits to policyholders,” said Gregg L. Hanson, CEO and president of Coverys.
The affirmation of the ratings for the Coverys companies is based on strong risk-adjusted capitalization, profitable operating performance and effective enterprise risk management. The ratings also benefit from the leadership position of Coverys and its insurance subsidiaries as one of the largest providers of medical professional liability insurance in the U.S. based on direct written premium.
The full A.M. Best report is available on the A.M. Best website at www.ambest.com
Coverys is a leading medical professional liability insurance provider dedicated to protecting the livelihood of physicians, hospitals, dentists, podiatrists and advanced practice providers. Coverys uses data intelligence to help policyholders anticipate, identify and manage risk in order to reduce errors, eliminate inefficiency and improve outcomes.
Headquartered in Boston, MA, Coverys has regional offices in East Lansing, MI, Morristown, NJ, Columbus, OH, Maple Valley, WA and Omaha, NE. For more information, visit www.coverys.com