2018 Financial Highlights – Constellation Insurance Companies

 

 

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2018 Financial Highlights – Constellation Insurance Companies
Constellation is a growing portfolio of medical professional liability insurance companies, which currently includes MMIC in the Midwest, UMIA in the Mountain States, and Arkansas Mutual. Together, these organizations collaborate throughout much of the country to offer our health care and long-term care clients a market-leading blend of financial stability, highly responsive customer service, and innovative approaches to liability risk management. Our dedication to care teams informs all we do, as we believe that what’s good for care teams is good for business. In 2018, we worked “together for the common good” to achieve another year of impressive results, as well as strong positioning for our future.

“A” rated by A.M. Best

A.M. Best, the most widely recognized insurance rating agency, affirmed our financial stability with an “A” (“Excellent”) rating. Our ongoing financial strength enables us to deliver superior service to our policyholders while continuing to invest in opportunities that will drive future growth. Ultimately, our solid financial position fuels our mission to help physicians and all those who devote their lives to health care attain their dream—to help, heal and serve.

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Learning from Malpractice Claim Data

There’s so much to learn from malpractice claims data. Constellation has collaborated with CRICO Strategies to do even more with the data from our member insurance companies. By working together and sharing data, we are able to dive deeper and draw more meaningful insights and analyses for our policyholders. Preventing a claim is always preferred and sometimes there are simple ways to change care team practices that can make a significant different. It’s all in the data! Read the new CRICO Strategies case study that highlights our efforts together.

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FDA Warning on Vaginal Cosmetic Procedures

MEMO

To:                  Arkansas Mutual Policyholders: OB/GYN, Family Practitioners, Plastic Surgeons
From:              Rebecca Tutton, RN, JD, Risk and Patient Safety, Arkansas Mutual Insurance Company, Rebecca.tutton@arkansasmutual.com

Dear Policyholders:

I have provided a link to an FDA warning that came out June 30, 2018 regarding the use of energy-based devices to perform vaginal “rejuvenation” or vaginal cosmetic procedures, at the end of this memo.

An FDA August 2, 2018 update letter included some manufacturers that had been overlooked in the June 30 letter. I have included the link to this letter as well.

The warning states

“we alert patients and health care providers that the use of energy-based devices (commonly radiofrequency or laser) to perform vaginal rejuvenation, cosmetic vaginal procedures or non-surgical vaginal procedures to treat symptoms related to menopause, urinary incontinence, or sexual function may be associated with serious adverse events. The safety and effectiveness of energy-based devices for treatment of these conditions has not been established.”

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Arkansas Mutual Financial Highlights: 2017

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Arkansas Mutual Insurance Company completed 2017 in a solid financial position affirmed by an “A” (“Excellent”) rating by A.M. Best, the insurance industry’s leading rating agency. Since 2015, Arkansas Mutual has been a member of the Constellation family of companies, which also includes MMIC, the largest medical professional liability insurance organization in the Midwest, and UMIA, a leading medical professional liability insurance organization in the Mountain States. Arkansas Mutual is able to draw upon Constellation’s strong financial resources and dedicated team members to support the needs of Arkansas physicians and healthcare providers through a team of local experts.

In 2017, Constellation reported increased members’ surplus, strong net income and outstanding customer retention. This collective financial strength and security is reflected by the “A” “Excellent”) rating received from A.M. Best by each of our members of the Constellation insurance group.

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Arkansas malpractice law illegal, Griffen rules before trial

This story is from NWA Arkansas Democrat Gazette. Please click here for the original article.

January 9, 2018

By John Lynch

A Pulaski County circuit judge has declared as unconstitutional a law that shields Arkansas doctors accused of malpractice from being questioned at trial about whether their performance was adequate.

In a lawsuit against a Little Rock plastic surgeon scheduled for to begin January 9, 2018, Pulaski County Circuit Judge Wendell Griffen ruled that the law, a provision of the Arkansas Medical Malpractice Act, illegally bars patients who have sued their doctors from being able to ask the physicians about the “core” issue of their litigation.

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Invoicing Scam Targeting AR Physician Offices

WARNING!

EMV COMPLIANCE SCAM!!

EVM Compliance based out of Dallas has sent one of our clients a bill for $139.50 for credit card terminal download. THIS IS A SCAM.

EVM Claims to be a liability insurance for people who use chip type credit cards. They target physician offices hoping the office manager will pay the bill without checking to see if it’s legit.  IT IS NOT.

There are two claims with the Arkansas Attorney General’s office, one from a West Memphis physician and one from our client.

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AR Business: New Holding Company Prepares Arkansas Mutual for Expansion

Click to read original publication on Arkansas Business 11/9/2015

by Gwen Moritz, Arkansas Business  on Monday, Nov. 9, 2015 12:00 am

A.M. Best Co.’s succinct announcement that Arkansas Mutual Insurance Co. had achieved an A rating was the culmination of two years of work by the Arkansas-only medical malpractice carrier to get ahead of a changing market.

“This now solidifies Arkansas Mutual for decades to come,” President Corey Little said last week. “It’s not pride: It’s what happens in every state with a home-state mutual.”

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