Doctor-owned insurance company to operate in Ohio
NEWS IN BRIEF — Posted Jan. 17, 2005
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.