MedPro Group, Berkshire Hathaway’s U.S. healthcare liability insurer, has entered into a definitive agreement to acquire the renewal rights of Swiss Re Corporate Solutions’ Healthcare Professional Liability book, effective October 11th, 2019.
According to an announcement on the deal, the agreement includes Hospital and Senior Care accounts underwritten by Swiss Re CorSo from the U.S., alongside U.S. Hospital and International Healthcare Professional Liability accounts underwritten by Swiss Re CorSo from London and other global offices.
Jean-Paul Rebillard, President, MedPro Specialty, commented: “This transaction is further evidence of our unwavering dedication to the challenging healthcare liability market in the US and, increasingly, around the world. We are excited by this opportunity because Swiss Re Corporate Solutions’ healthcare professional liability clients and approach to underwriting and service complement our industry-leading Specialty business that provides solutions to healthcare organizations of all types.”
Under the agreement, current Swiss Re CorSo policyholders will be eligible to receive renewal offers from MedPro and its affiliates once their policies expire. It’s also been revealed that in order to ensure seamless service, a number of key members of the Swiss Re CorSo healthcare team are to join MedPro.
Chief Executive Officer (CEO) of MedPro, Tim Kenesey, explained that “more healthcare providers choose MedPro over any other insurer because of our century-long commitment to delivering unsurpassed peace of mind, expertise and choice to healthcare providers and organizations.
“And, as Berkshire Hathaway’s chairman Warren Buffett has said, ‘MedPro is also now a favored solution for owners of healthcare liability insurers who seek the world’s most stable home for their policyholders in an increasingly unstable healthcare liability landscape.'”