The NCRIC Group, Inc., a leading provider of medical professional liability insurance and physician practice management services in the Mid-Atlantic region, announced that Frank Ross has joined its Board of Directors, effective. He will be up for re-election in 2005.
Ross formerly served as managing partner of KPMG LLP Mid-Atlantic Area and was elected to three terms on the KPMG US and KPMG Americas Boards of Directors. He “brings to NCRIC more than 38 years of experience in public accounting and auditing,” said the bulletin. His responsibilities at KPMG included regional sales and delivery of all Audit and Risk Advisory services, including Financial Statement Audit, Risk Advisory Services, Internal Audit Outsourcing, Business Measurement Processes, and other services. He ahs also served in various capacities on numerous non-profit Boards.
“Mr. Ross brings a wealth of financial knowledge and broad experience to the Board, and we are extremely pleased he has agreed to join us,” stated NCRIC Chairman Nelson P. Trujillo, M.D. “While our board possessed strong financial proficiency, it was important to have a board member who met the specific criteria outlined by Sarbanes-Oxley for financial expertise as we chart the course for NCRIC over the next several years. In Mr. Ross, we not only found that financial expertise, but a leader in the accounting and auditing profession.”
Ross commented that he is aware of the recent challenges NCRIC has faced and is looking forward to working with both the Board and management in his role as a director. “I was very impressed at the candor with which the recent issues facing the company, including the hospital collection litigation verdict and the reserve strengthening, were discussed with me by senior management and members of the Governance Committee of the Board of Directors. I completed a due diligence process before accepting this opportunity and believe that NCRIC has put in place a solid financial framework for continued success.”
NCRIC President and CEO R. Ray Pate, Jr. noted: “Our growth has accelerated substantially since the completion of our second-step conversion in June 2003. Mr. Ross brings unique expertise and contacts to our Board of Directors. I believe that the Company will greatlybenefit from his experience and skills in both finance and corporate strategy. I couldn’t be more pleased to have Mr. Ross join our Board of Directors.”
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