Business of Medicine
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Mutual Matters: Our Growth and Commitment to Policyholders
MagMutual PolicyOwners:
Over the past year, MagMutual achieved two remarkable milestones: we became the #5 largest medical malpractice insurance company in the nation and the #1 largest mutual medical malpractice insurance company.* This achievement underscores the strength of our mission and the trust our policyholders place in us every day.
While many companies in the medical professional liability insurance industry have experienced single-digit growth or even declines, MagMutual has stood out with an impressive 22% growth.* This level of expansion is not only a testament to the value we bring to our policyholders but also a reflection of the confidence healthcare professionals have in our ability to support and protect them over the long term.
Our growth far outpaces the broader industry because of our unique ability to adapt, innovate and meet the evolving needs of the healthcare sector. We recognize that rapid growth can sometimes present risk for companies, but at MagMutual, we believe we are mitigating these risks with innovative approaches to pricing and distribution and by challenging the status quo in the industry to benefit healthcare providers. By focusing on strategies that ensure sustainability and stability, we’re able to grow responsibly while continuing to prioritize the needs of our policyholders.
MagMutual’s growth is about more than just numbers. It’s a strong indicator of our financial stability, our ability to weather industry challenges and our longevity as a trusted partner for healthcare professionals. As the largest mutual medical malpractice insurance company, we’re uniquely positioned to prioritize our policyholders’ best interests over external stakeholders. This ensures we’re always focused on providing exceptional service, innovative solutions and long-term support.
Our commitment to financial strength also means that we’ll continue to be there when you need us most, whether it’s navigating a malpractice claim, accessing risk management resources or simply planning for the future of your practice.
Thank you for putting your trust in MagMutual. Your confidence in us drives our growth and motivates us to keep raising the bar. Together, we’ll continue to build a stronger, more resilient future for healthcare providers across the nation.
Sincerely,
Bill Kanich, MD, JD
* S&P Global Intelligence based on National Association of Insurance Commissioners statutory P/C filings.
01/25
Disclaimer
The information provided in this resource does not constitute legal, medical or any other professional advice, nor does it establish a standard of care. This resource has been created as an aid to you in your practice. The ultimate decision on how to use the information provided rests solely with you, the PolicyOwner.