A.M. Best has affirmed its “A-” rating and stable utlook of Fort Wayne, Ind.-based Medical Protective Co., a subsidiary of GE Insurance Solutions Corp. Medical Protective also holds an “A” counterparty credit and financial strength rating from Standard & Poor’s Ratings Services, the company said in a statement today.
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 chief operating officer 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.”
GE Insurance Solutions’ Medical Protective has been protecting the assets and reputations of select physicians, dentists and other primary health-care providers for more 100 years. As the nation’s first provider of medical professional liability insurance, Medical Protective today has over $750 million of gross written premiums, more than $2 billion in assets, and more than 75,000 customers.
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