MBS Insurance Services, a Denville, N.J.-based agency, announced ProAssurance Corporation would continue underwriting existing medical malpractice insurance in the state through its ProNational Insurance Company subsidiary. The coverage will continue to be sold through MBS.
According to MBS president Michael Bernal-Silva, ProAssurance will introduce claims-made coverage to New Jersey, which will be used for all new and existing policyholders. Claims-made policies will result in lower initial coverage costs, he asserted.
MBS will be holding seminars throughout New Jersey in the coming weeks to explain the advantages of this new type of coverage. Physicians or medical-group managers who would like to attend obtain a schedule by calling Nancy French at 973-586-6400 or 800-347-3417, or by checking the MBS website at www.MBSinsure.com.
ProAssurance Corporation will be the nation’s third largest writer of medical professional liability insurance when St. Paul completes their withdrawal from the market. The Company, which was formed in June 2001 by the combination of Medical Assurance, Inc. and Professionals Group, Inc., has more than $2.3 billion in assets and more than $500 million in annualized gross written premiums.
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