JACKSONVILLE, Fla., Jan. 17, 2014 (GLOBE NEWSWIRE) -- Jacksonville-based MedMal Direct Insurance Company (MedMal Direct) announces its new reinsurance treaty with a panel of international reinsurance companies. With combined assets of $125 Billion, MedMal Direct's reinsurance partners are second to none in the industry and include Lloyd's of London, Bermuda, Germany, Switzerland and U.S. based reinsurers, all of which have a financial stability rating of A+ (Superior) or A (Excellent) from A.M. Best.
MedMal Direct's reinsurance program augments the company's financial stability by providing multiple layers of protection for the company and its policyholders. This integral relationship allows MedMal Direct to continue providing the most competitive medical malpractice insurance premiums, superior customer service and aggressive litigation management with exceptional financial stability.
As one of the fastest growing medical professional liability insurance companies in the nation, MedMal Direct is the only medical malpractice insurance carrier to exclusively offer its policies direct to physicians. By foregoing the use of independent agents and brokers, MedMal Direct has cut out the middleman, and is able to offer all physician practices significant savings on their premiums.
Tim Bone, President of MedMal Direct, comments: "We are excited and honored to see such strong support from some of the most prestigious professional liability reinsurers in the world. The strong relationships with our reinsurance partners allow us to enhance our product capability and to provide additional financial strength and stability to our insureds."
"We are creating a paradigm shift in the market which is having a net-positive effect on the entire healthcare industry," adds Butler Ball, Chief Executive Officer of MedMal Direct. "We are reducing physicians' overhead every single day by cutting out the middleman and selling direct; it feels good to be a part of the solution."
About MedMal Direct Insurance Company:
MedMal Direct Insurance Company (MedMal Direct) is an insurance carrier that provides medical malpractice insurance directly to physicians in Florida, Georgia, North Carolina and Texas. MedMal Direct enables physician practices to realize significant savings on one of their largest expenses -- medical professional liability insurance premiums. MedMal Direct has earned and maintains a Financial Stability Rating® of A, Exceptional, from Demotech, Inc. and is backed by a panel of A.M. Best A (Excellent) and A+ (Superior) rated international reinsurers with $125 billion in assets. With a strong balance sheet, a conservative underwriting philosophy, and outstanding litigation management, MedMal Direct provides physician practices with the comfort and protection they need at a lower price. "It's Better To Be Direct." Visit www.mymedmal.com for more information.