By Luke Jones
Click here for the original article posted on Arkansas Business.com
When Arkansas Mutual Insurance Co. was formed in 2007, Arkansas became the last state in the union to get its own medical malpractice insurance company.
After St. Paul Cos. of Minnesota, the largest carrier of medical liability policies, abandoned the med-mal business entirely in 2001, about 2,300 of Arkansas doctors lost their liability insurance coverage. In many states, medical societies formed local mutual insurance companies to fill the hole. But Arkansas took a different path.
“In years past, the medical society had considered creating a mutual insurance company,” said David Wroten, executive director of the Arkansas Medical Society. “But it was always determined not to have a large enough market in the state. Then you add the fact that we’ve always had carriers, and most of those carriers, at least right now, are mutual companies.” Continue reading