Profession

Doctor-owned insurance company to operate in Ohio

NEWS IN BRIEF — Posted Jan. 17, 2005

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The Ohio Dept. of Insurance has granted a license to operate to a doctor-owned insurance company.

The Healthcare Underwriters Group Mutual of Ohio, a nonprofit mutual insurance company that solely writes medical liability insurance, was granted approval to begin writing insurance Dec. 14, 2004.

Modeled after other successful doctor-owned insurance companies, HU operates as a non-assessable mutual, meaning policyholders cannot be assessed to pay losses if HU loses more than anticipated. According to a statement released by HU, actuarial data will be reviewed by a physician board of directors,who will help establish annual premiums and be involved in the underwriting and claims-handling policy development.

Note: This item originally appeared at http://www.ama-assn.org/amednews/2005/01/17/prbf0117.htm.

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