As of July 25th of this month, ProMutual Group, the Boston-based medical professional liability insurance company is now Coverys. “We believe the new name, Coverys, will better position the member companies as an integrated whole and will better reflect the services we offer,” explains Richard W. Brewer, president and CEO of Coverys. “This is an exciting and important change for the organization,” concurred Gregg L. Hanson, Coverys COO. While ProMutual Group has a new name, ProMutual will continue to be one of the Coverys member companies writing business in Massachusetts.
In addition to the new name and logo, Coverys also has a new streamlined website aimed at improving communication and contact between its member companies and the public. The company explains that it chose the name Coverys, which is loosely derived from the word “coverage,” to encompasses the company’s new vision and core mission.
Coverys is currently one of the top 10 medical professional liability insurance providers in the country based on direct written and has net admitted assets in excess of $3 billion dollars as of December 31, 2010. In additon, Coverys member companies which include Medical Professional Mutual Insurance Company, ProSelect Insurance Company, MHA Insurance Company and Washington Casualty Company all have an A-(Excellent) rating from A.M. Best. To see Coverys new look and feel visit their website at www.coverys.com
In added Coverys news, the company also announced yesterday that this year most Massachusetts physician, surgeon and healthcare facility policyholders will receive a double dose of good news: both a dividend and no rate increase. The company says its decisions affects over 7,500 physicians and surgeons in Massachusetts and almost 100 healthcare facilities in Massachusetts.