Medicus to Enter Alabama Medical Professional Liability Market

Medicus Insurance Co., an Austin, Texas-based medical professional liability insurance company, will begin to offer coverage to physicians and surgeons in Alabama.

The Alabama Department of Insurance approved Medicus' entry into the state July 14, according to a company statement. Medicus is admitted in 25 states and writes business to physicians, surgeons and related medical service providers in 18 states, plus Alabama.

Medicus offers claims-made, non-assessable policies through agents who specialize in medical professional liability insurance. It is owned by physicians, employees and investors.

Citing the success of medical litigation reforms, Illinois lawmakers trumpeted Medicus' arrival in the state in 2007. The Illinois Supreme Court later declared a state cap on damages from medical liability claims to be unconstitutional (BestWire, Feb. 23, 2010).

The top five writers of medical professional liability insurance in Alabama in 2010 were ProAssurance Group, with a 60.2% market share; Coastal Insurance Risk Retention Group, with 6.1%; MAG Mutual Group, with 5.6%; CNA Insurance Cos., with 5.0%; and Centennial Casualty Co., with 4.7%, according to BestLink, which provides online access to A.M. Best's Global Insurance & Banking Database.

(By Sean P. Carr, Washington Correspondent: [email protected])