JACKSONVILLE, Fla., April 05, 2016 (GLOBE NEWSWIRE) -- Jacksonville-based MedMal Direct Insurance Company (“MedMal Direct”) is continuing its strategic expansion and announced that it is officially launching operations as a medical professional liability insurance carrier in both Oklahoma and Pennsylvania.
MedMal Direct was recently recognized as the fastest growing medical malpractice insurance carrier in the nation by Inc. Magazine. Founded in 2010 with physicians in mind, MedMal Direct’s unique business model enables physicians to realize significant savings, direct lines of communication with the experts, and a better strategy of defense, all from a financially strong company. In 2015, MedMal Direct experienced an 80 percent growth rate in new business and maintained their excellent customer retention rate at 98 percent.
The Florida domiciled company is now available for coverage in nine states: Florida, Georgia, Illinois, Missouri, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas. Over the past 5 years, MedMal Direct has grown its book of business to over $16 million and insures more than 2,300 physicians, surgeons, allied healthcare professionals and healthcare facilities.
“While our policy and coverage offerings are virtually identical to traditional carriers, our distribution model is not,” said Butler Ball, Chief Executive Officer of MedMal Direct. “Our simplified process and a lower price has been so well received by thousands of our policyholders. We are thrilled to expand the unmatched value of our company to practicing physicians in Oklahoma and Pennsylvania.”
About MedMal Direct Insurance Company:
MedMal Direct Insurance Company is a multi-state medical malpractice insurance carrier which offers its policies direct to physicians. The company enables physician practices in Florida, Georgia, Illinois, Missouri, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas 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® of A, Exceptional, from Demotech, Inc. The company is backed by Liberty Mutual Insurance Company and a panel of A.M. Best A (Excellent) and A+ (Superior) rated international reinsurers with $230 billion in assets. Visit MedMalDirect.com for more information.