Best Affirms Medical Protective Ratings, Stability

April 8, 2005

A.M. Best has affirmed its “A-” rating and Stable Outlook of Medical Protective Co., a subsidiary of GE Insurance Solutions Corporation. Medical Protective also holds an “A” counterparty credit and financial strength rating from Standard & Poor’s Ratings Services.

A.M. Best defines the Stable Outlook as “an indication that a company is experiencing stable financial/market trends and that there is a low likelihood that its rating will change in the near term.”

“The A.M. Best and S&P announcements are another validation of our disciplined approach and our focus on our doctors,” said Rick Smith, president and COO of GE Insurance Solutions. “Medical Protective continues to lead the primary medical malpractice segment with the strongest financial strength, underwriting discipline, claims defense and risk management solutions. The company continues to be a tremendous success story in what has been a very challenged medical malpractice market.”

“Today’s primary health care provider is looking for financial strength and stability, and for an aggressive and proactive defense of their assets and reputations,” added Tim Kenesey, president and CEO of Medical Protective. “With A.M. Best’s financial rating affirmation, Medical Protective remains the only primary medical professional liability carrier with ratings of ‘A’ Stable Outlook from S&P and ‘Excellent’ Stable Outlook from A.M. Best. This financial strength, combined with our continued industry-leading claims defense of our doctors and risk management programs, provides peace of mind and stability in an insurance segment riddled with company failures and exits.”

Was this article valuable?

Here are more articles you may enjoy.