Coverys Announces it has Engaged Michael Maglaras & Company

Analyzing changes in healthcare to help set future course for delivery of specialized services for healthcare providers

Boston, MA - April 16, 2013 - Coverys, a leading provider of medical professional liability insurance, is pleased to announce that it has engaged Michael Maglaras & Company, an international insurance consulting firm specializing in self-insurance and alternative insurance programs, to assist in exploring the future of healthcare delivery and how it will affect the medical professional liability industry. Maglaras & Company’s customers include many large health systems with their own captive insurance programs. This project will assist Coverys in setting a future direction regarding delivery of underwriting capacity and services such as specialized risk management, education, and claims handling.

“Being able to tap into Michael Maglaras’s talent and expertise in the area of captive programs and large healthcare delivery system insurance and risk management needs will be a real positive as we look at the future direction of Coverys,” said Gregg Hanson, CEO and president of Coverys. “This review will provide additional insight for us on how to reach healthcare providers who currently may not have access to specialized services within their current insurance program.”

Coverys currently provides a suite of comprehensive risk management and patient safety educational programs to the more than 25,000 healthcare providers and 500 hospitals, health centers and clinics it insures. These services are in addition to online and in-person educational programs, including ones that offer continuing medical education credits for physicians and nurses. Coverys is also known for its aggressive and successful defense of medical malpractice cases and for utilizing top defense counsel.

For more information about Coverys, visit www.coverys.com, or contact Erin Flaherty at (617) 526-0272 or eflaherty@coverys.com.


About Coverys

Coverys is one of the top 10 medical professional liability insurance providers in the country based on direct written premium. Coverys member companies insure more than 25,000 physicians, surgeons, dentists, certified nurse midwives and allied healthcare providers, as well as more than 500 hospitals, health centers and clinics in 23 states from coast to coast. Coverys has net admitted assets of $3.3 billion, direct written premium of $368 million and policyholder surplus of $1.3 billion, as of December 31, 2012. In addition, Coverys insurance member companies Medical Professional Mutual Insurance Company (“ProMutual”) and ProSelect Insurance Company (“ProSelect”), as well as ProMutual-sponsored Coverys RRG, Inc. (“Coverys RRG”) have a Best’s Rating of A (Excellent). MHA Insurance Company (“MHAIC”) and Washington Casualty Company (“WCC”) have a Best’s Rating of A- (Excellent).

Coverys emphasizes physician education and patient safety, and the company is acknowledged as a leader in providing supportive risk management services and resolute claim defense to the ´┐╝healthcare community. Coverys also offers a variety of interactive and relevant continuing medical education (CME) activities to healthcare providers across the country. For more information visit the Coverys website at www.coverys.com. Timely industry and company news can also be found on the Coverys blog at coverys.wordpress.com, on Twitter (@Coverys) and on the company’s Facebook page.