Coverys Receives an A (Excellent) Financial Strength Rating from A.M. Best for the Third Consecutive Year

Boston, MA - March 30, 2015 - Coverys is pleased to announce it has received an A (Excellent) financial strength rating with a stable outlook from A.M. Best Company for member companies Medical Professional Mutual Insurance Company, ProSelect Insurance Company and Coverys RRG, Inc. for the third consecutive year. Subsidiaries MHA Insurance Company, Washington Casualty Company, and Preferred Professional Insurance Company had their financial strength ratings of A- (Excellent) affirmed.

“This recognition from A.M. Best continues to support the decisions of the Coverys board and management to execute strategies which broaden our reach while leveraging our historical adherence to underwriting discipline,” said Dr. Brenda E. Richardson, chair of the Board of Directors.

“Coverys is proud of its A.M. Best ratings. This independent recognition is not only evidence to our policyholders and the market of the financial strength of Coverys, it is also a testament to the service and customer commitment provided by our staff and agents,” said Gregg L. Hanson, CEO and president of Coverys. “Through these sustained efforts, Coverys will continue to bolster its balance sheet, offer innovative products and prepare for the future challenges faced by our insureds.”

In assigning these ratings, A.M. Best, the nation’s most recognized insurance rating organization, commented on the efforts Coverys has made to improve its branding, unifying its operations and reporting on a single technology platform, and holistically managing its enterprise risk from the ultimate parent level for all members. A.M. Best also noted the group’s superior capitalization and excellent business profile characterized by significant diversification in products, geography, and medical specialties.

The full A.M. Best report is available on the A.M. Best website at www.ambest.com. For more information about Coverys, contact Scott MacKenzie at (617) 488-2873 or smackenzie@regancomm.com.
 

ABOUT COVERYS

Coverys is an innovative medical professional liability insurance provider dedicated to helping its policyholders and clients anticipate, identify and manage risk to reduce errors, eliminate inefficiency and improve outcomes. As one of the largest medical professional liability insurance providers in the country, Coverys is responsible for insuring over 32,000 physicians, dentists, and allied healthcare providers, as well as more than 500 hospitals, health centers and clinics from coast to coast. Coverys has consistently been included in the Ward’s 50 for the past five years. In addition to its insurance products and service delivery to the health care industry, it also has established the Coverys Community Healthcare Foundation to support endeavors that focus on the improvement of patient safety as well as healthcare programs to reduce childhood obesity. For more information, visit Coverys at www.coverys.com.