Medical Malpractice Startup

M&A was initially approached by an entrepreneur looking to create a Medical Malpractice insurance entity. We assisted the client in selecting their proposed structure, a reciprocal insurance company with an affiliated attorney-in-fact. We offered our insights into the viability of the business plan based on the capital available and our assessment of market conditions in their target market.

We relied on our experience in and knowledge of the Medical Malpractice marketplace, including pricing, recent legislation, and dealings with the regulators to provide services related to the startup such as:

  • Review and evaluation of business model
  • Assistance with business plan and Form A application
  • Drafting of rating manual and establishment of initial rate levels

Five years after the client’s successful entrance into the marketplace M&A continues to be retained to provide actuarial consulting services. Our client has converted from a reciprocal to a stock company and is now a significant player in its state of domicile. M&A’s services include:

  • Analysis of loss and loss expense reserves and unearned premium reserve for death, disability, and retirement
  • Statutory statement of actuarial opinion
  • Continued product development and rate analysis
  • Rate filing support
  • Regulatory compliance
  • Modeling impact of potential policy coverage changes
  • Guidance in rating large accounts

We have utilized a broad range of skills to provide assistance to our client on these projects. We are able to use our actuarial knowledge of medical malpractice rates and reserves, our experience related to different company structure choices, our experience related to reviewing and preparing financial projections, and our regulatory compliance and process experience to deliver effective, practical and efficient solutions to our client.

FOR MORE INFORMATION ON OUR MEDICAL MALPRACTICE SERVICES PLEASE CLICK HERE

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