New York medical malpractice insurer EmPRO Insurance Co., a subsidiary of Physicians’ Reciprocal Insurers, said it is expanding into New Jersey. It has filed to become an admitted insurer in New Jersey and plans to begin issuing policies in the state by mid-year 2022.
Bruce Shulan, president and chief executive officer of EmPRO, said the company’s financial performance over the past few years—generating more than $320 million in surplus improvement since 2017— has given it the confidence to implement its expansion.
The company said that in 2021 it grew its surplus by $29 million, achieving $16 million in underwriting gains and achieving a combined ratio of 78.9.
EmPRO insures physicians, healthcare facilities, and healthcare providers.
\EmPRO is capitalized with over $100 million and is managed by PRIMMA LLC, PRI’s wholly owned attorney-in-fact.
Topics Carriers New York New Jersey
Was this article valuable?
Here are more articles you may enjoy.
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
With Falling Private Re Prices, Should Florida Let Insurers Buy Less From the Cat Fund? 
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
