West Virginia Mutual Insurance Company and MagMutual Form Joint Venture
March 1, 2016
For Immediate Release
Atlanta, March 1, 2016 – MagMutual, the Southeast’s largest medical professional liability insurer, and West Virginia Mutual Insurance Company (WVMIC), West Virginia’s largest medical professional liability insurer, have entered into a joint venture which will bring the best insurance solutions to hospitals and their employed medical professionals in the state of West Virginia.
Operating since 2004, West Virginia Mutual Insurance Company is a physician-owned medical liability provider that provides medical professional liability coverage for physicians and physician-owned facilities. Presently, it insures six out of ten practicing physicians in the state. WVMIC has a strong emphasis on risk management with 98% of the Mutual’s policyholders participating in its programs.
MagMutual offers a full suite of risk management solutions and patient safety resources tailored to every client's unique needs. When it comes to helping hospital executives manage success in today's changing healthcare and payment environment, MagMutual has the operational expertise and deep industry insights to optimize performance, profitability and protect valuable assets.
Together, both companies will combine their respective expertise to provide a product that will create significant value for hospitals and their employed medical professionals in West Virginia. Both MagMutual and WVMIC will work collaboratively with one another on underwriting, claims handling and risk management processes and programs.
About West Virginia Mutual Insurance Company Founded in 2004, West Virginia Mutual Insurance Company is the only West Virginia member-owned medical professional liability insurance company. Its physician board members play an active role in underwriting, risk management and claims. WVMIC provides medical liability coverage to six out of ten practicing physicians in the state. The company is rated A- (Excellent) by A.M. Best. Visit www.wvmic.com
About MagMutual of Georgia Founded by physicians in 1982, MagMutual is one of the leading providers of medical professional liability insurance to physicians and hospitals in the United States. Operating throughout the United States with local office presence, MagMutual is the Southeast’s largest medical professional liability mutual insurer and the fourth largest in the U.S. The company is rated A (Excellent) by A.M. Best. Insurance products and its services are issued and underwritten by MAG Mutual Insurance Company and its affiliates. Visit www.magmutual.com
WVMIC Contact: Tamara Huffman
EVP, Chief Operating Officer
MMIC Contact: Ed Lynch
EVP, Chief Business Operations Officer