Medical liability insurer MMIC has created a risk retention group (MMIC RRG), to meet the evolving medical liability needs of physician groups, clinics or hospitals.
According to MMIC, RRG is offered to accounts headquartered in the eight Midwestern states where it is currently licensed and actively writing new branches includes Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, Nebraska, Kansas and Missouri.
The new group enables the company to underwrite business in states where it is not licensed and admitted, subject to a registration in those states.
MMIC vice president Gerald Connell said that the option may be useful for clinics, groups or systems that acquire operations and organizations in other states especially during increasing consolidation in health care.
"MMIC is in the process of registering the RRG in several states, and will do so in the future based on policyholder needs, which is intended to provide us and our policyholders with flexibility in certain specific cases," Connell added.
MMIC Group, founded in 1980, provides professional liability insurance and health information technology services and currently insures more than 14,000 health care providers and 375 hospitals and health care facilities.