K&B Underwriters Launches National Medical Malpractice Insurance Division; Former Medical Professional Liability Insurance Executive to Lead New Division
RESTON, VA - May 30, 2006 - K&B Underwriters, a leading wholesale commercial insurance broker focused on the healthcare industry, today announced the launch of a new national medical malpractice insurance division. The division was created to help retail insurance agents and healthcare entities secure medical malpractice coverage for risks that may not be insurable within the standard physician and healthcare markets.
"As a result of current industry conditions, there is a significant need for access to medical malpractice insurance carriers," stated Bryan Baird, president of K&B Underwriters. "We are very excited about the opportunity to match those seeking medical malpractice insurance coverage with the appropriate market."
The new division will be directed by Steve Fargis, a medical malpractice insurance executive with more than twenty years of experience in the healthcare and medical malpractice industries. Fargis most recently served as chief operating officer of NCRIC Group, Inc., a leading medical malpractice insurance company in the Mid-Atlantic region that was acquired by ProAssurance Corporation in August 2005. According to Baird, "The strong relationships that we have established with our insurance partners coupled with Steve's capabilities bring tremendous value to the malpractice insurance solutions that we create for our clientele. Whether clients are seeking to access coverage for solo practitioners, small physician groups, large clinics, or allied healthcare personnel and facilities, our new medical malpractice insurance division will help them to maximize both their coverage and financial goals. The addition of Steve further exemplifies that K&B is committed to providing its clients with highly skilled and experienced industry professionals."
The new division will initially focus on placements for the following areas of risk:
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Hard-to-place physicians
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Distressed or declined physicians
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Risk sharing, large group retention, and alternative risk transfer
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Allied healthcare personnel
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Healthcare facilities
Steve Fargis commented, "I am very excited about the opportunity to work with the specialists at K&B. By partnering with an industry leader with such tremendous market reach, a wide variety of medical malpractice insurance coverage solutions can quickly be made available to those throughout the healthcare industry."
"After many years of successful experience in the eldercare market, we are very eager to apply our innovative model of insurance expertise, top-notch customer service, and cutting edge technology to the medical malpractice insurance industry," Baird stated. "We firmly believe that the addition of this division to our vast array of customized insurance solutions and risk management programs once again sets us apart from others in the industry. We will continue to strive to meet the evolving needs of our clients through the provision of a complete package of healthcare insurance services."
About K&B Underwriters
K&B Underwriters is a leading wholesale commercial insurance broker that was founded in order to satisfy the need for a customer-focused wholesaler specializing in the healthcare industry. K&B has accomplished this by modeling its operations after its primary customer, the retail agent. K&B is a stable source of outstanding customer service and exceptional products designed to fit the needs of the eldercare and medical malpractice marketplaces. K&B offers a complete line of coverages, including general liability, professional liability, excess limits, umbrella, property, and auto.
For further information on K&B's medical malpractice insurance division, contact Steve Fargis or Jack Loria; 12010 Sunset Hills Road, Suite 875, Reston, VA 20190; 888.760.3194; [email protected]or [email protected]; or consult K&B's website, www.kbunderwriters.com.
For further corporate information, contact Bryan Baird, President; 888.760.3194, ext. 101; [email protected].
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