PodiatrySelect, professional liability insurance for podiatrists, is now available from Birmingham, Ala.-based ProAssurance Corp., which has just partnered with the Podiatry Insurance Co. of America. PICA will provide coverage for selected podiatrists through Red Mountain Casualty Insurance, ProAssurance’s Excess and Surplus Lines insurance company.
Under terms of the agreement, policies will be written by Red Mountain under the PodiatrySelect name, with PICA using its expertise in podiatry to handle underwriting and claims with Red Mountain’s assistance. The two companies will share premiums, losses and expenses.
“We believe this partnership will allow PICA to fill-in an important missing piece in the insurance options we are able to offer our podiatric policyholders,” Jerry D. Brant, D.P.M., PICA president and CEO. “The ability to partner with ProAssurance gives our new podiatric E&S program real stability, and helps assure our policyholders of our long-term commitment to them and to this market.”
“We are always looking for new and innovative ways to leverage the power of our balance sheet, especially through Red Mountain,” A. Derrill Crowe, M.D., ProAssurance chairman and CEO said. “We’re excited to be able to help PICA extend their leadership position in serving America’s podiatrists, and we look forward to a long and fruitful partnership with them.”
Source: ProAssurance Corp.
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