JACKSONVILLE, Fla., Feb. 11, 2014 (GLOBE NEWSWIRE) -- Jacksonville-based MedMal Direct Insurance Company (MedMal Direct) announced today that it has received its certificate of authority from the Illinois Department of Insurance as a licensed and admitted company, officially launching operations as a medical malpractice insurance carrier in Illinois.
MedMal Direct is one of the fastest growing professional liability insurance companies in the nation and is the only national medical malpractice insurance carrier to exclusively offer its policies direct to physicians. The company expanded into Georgia, North Carolina and Texas last year, and is currently commencing operations in Illinois. MedMal Direct began insuring doctors in Florida in 2010 and has already grown its book of business to more than $11 million in annual premium and currently insures approximately 2,000 physicians, surgeons, allied healthcare professionals and healthcare facilities.
MedMal Direct enables physicians to realize significant savings on one of their largest expenses — medical malpractice insurance premiums. "We offer the same coverage as our peers, and we defend our physicians and their reputations vigorously with the best attorneys in the industry. By using our direct-write distribution model, we cut out the middleman and we pass the savings on to the physician," said Tim Bone, President of MedMal Direct.
"People have been cutting out the middleman for a long time; we weren't the first to do it. When was the last time you called a travel agency? Dell and Apple sell directly to the consumer, it just makes sense. Because we have cut out the middleman, we can provide our doctors with needed savings and are able to provide a level of service that other carriers quite simply cannot," said Butler Ball, Chief Executive Officer of MedMal Direct.
About MedMal Direct Insurance Company:
MedMal Direct Insurance Company (MedMal Direct) is an insurance carrier that provides medical malpractice insurance directly to physicians in Florida, Georgia, Illinois, North Carolina and Texas. MedMal Direct enables physician practices to realize significant savings on one of their largest expenses -- medical professional liability insurance premiums. MedMal Direct has earned and maintains a Financial Stability Rating(R) of A, Exceptional, from Demotech, Inc. and is backed by a panel of A.M. Best A (Excellent) and A+ (Superior) rated international reinsurers with $125 billion in assets. With a strong balance sheet, a conservative underwriting philosophy, and outstanding litigation management, MedMal Direct provides physician practices with the comfort and protection they need at a lower price. "It's Better To Be Direct." Visit www.mymedmal.com for more information.
Tim Bone, President
MedMal Direct Insurance Company
245 Riverside Avenue, Suite 550
Jacksonville, Florida 32202