Mutual Matters: Navigating 2024 with MagMutual—A Year of Innovation and Support

MagMutual PolicyOwners:

At MagMutual, we believe that stepping into the future involves staying true to who we are and why we were founded. As a mutual company, we prioritize serving physician policyholders above corporate profits, ensuring that our success and financial strength directly benefit you. As we continue to grow, our focus remains on supporting healthcare providers emotionally, practically, and financially.

Our annual reports embody this commitment, highlighting our efforts to deliver unprecedented support and excellence. These reports provide a transparent overview of our financial performance and strategic direction in this rapidly evolving industry.

As a mutual medical malpractice insurance company, we understand that our ability to withstand market changes and be there to protect you is paramount. With 2024’s annual report, we demonstrate that capability by detailing our financial standing, achievements and our future goals. This report holds us accountable to you and should foster trust among our policyholders. After all, this is your company.

Here's 2024 At-A-Glance:

Innovations

Online Quoting

Price estimate, insurance binding and insurance certificate entirely online

Advice Hub

One platform to access content for your specific speciality and for tracking risk drivers and success metrics

Learning Center

Improved platform where you can access educational content and streamline CME management

OneModel™

Proprietary risk visualization tool to determine your coverage needs

Capital Solutions

Multi-disciplinary team dedicated to tailor coverage for organizations with complex risk financing needs

2020–2024 Financials

A Step Toward Safer, More Compassionate

Care  Participation in the Preserve Program is not about blame. It’s about doing the right thing at the right time.

Patients met with empathy and clarity are more likely to feel seen, heard, and supported — and less likely to pursue legal action. 

By embracing open communication, we strengthen the culture of safety in medicine. The Preserve Program helps make that possible.

For more information about how the Preserve Program works or to explore whether it’s the right fit for a specific situation, contact one of our risk management consultants at 800-282-4882 or [email protected]. 

Sincerely,

Bill Kanich, MD, JD

What Does This Mean for You?

In 2024 we’ve built more security for our policyholders through better experiences and stronger financials. Our enhancements include new technologies and approaches, such as:

• Online insurance quoting system, which allows healthcare providers to quote, purchase coverage and receive a COI entirely online
• Streamlined policy services for billing and credentialing
• Advice Hub, an online experience that delivers timely information and risk management support

Let the 2024 Annual Report be a reminder that MagMutual is dedicated to you—our PolicyOwners. The transparency we offer proves we are a reliable insurance partner through industry changes and challenges and fortifies our commitment to the insurance needs of healthcare providers.

For a detailed understanding of our progress, please review the full 2024 Annual Report.

Sincerely,
Bill Kanich, MD, JD