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Yahoo
19-03-2025
- Business
- Yahoo
AM Best Comments on Credit Ratings of The Doctors Company Insurance Group Members Following Announced Acquisition of ProAssurance Corporation
OLDWICK, N.J., March 19, 2025--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of "a+" (Excellent) of the members of The Doctors Company Insurance Group (TDC Group) (Napa, CA) are unchanged following the March 19, 2025, announcement that TDC Group will acquire all outstanding shares of ProAssurance Corporation (PRA) (NYSE: PRA) (Birmingham, AL). The outlook of TDC Group's Credit Ratings (ratings) is stable. The ratings reflect TDC Group's balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. TDC Group is the second-largest writer of medical professional liability (MPL) insurance in the United States (based on direct premiums written) and will be purchasing PRA – the fourth-largest MPL insurer in the United States. Following the conclusion of the transaction, which is expected to close within the first half of 2026 pending regulatory approval, PRA will be 100% owned by The Doctors Company, An Interinsurance Exchange, the lead member of TDC Group. AM Best does not expect the transaction to have any material change to TDC Group's rating fundamentals at this time. Given the extended nature of the transaction, AM Best will continue to evaluate each of these organizations independently while monitoring the progress and the effects of this transaction over time. As more detailed information becomes available, AM Best will reassess the ratings of both organizations taking into consideration the planned synergies and efficiencies gained from the transaction. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Connor Brach, CFA, FRM Associate Director +1 908 882 1668 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Sharon Marks Director +1 908 882 2092 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Sign in to access your portfolio
Associated Press
21-02-2025
- Business
- Associated Press
The Doctors Company Promotes Laura Kline to Regional Operating Officer of the Northeast Region
NAPA, Calif., Feb. 21, 2025 /PRNewswire/ -- The Doctors Company, the nation's largest physician-owned medical malpractice insurer, part of TDC Group, announced today the promotion of Laura Kline, MBA, CPCU, CIC, to Regional Operating Officer of the Northeast Region. In her new role, Ms. Kline will drive operational excellence across the 26 states located in the Northeast Region and lead teams including Business Development, Underwriting, Claims, and Patient Safety and Risk Management in enhancing member experiences. She is replacing Tammy Clark, who is leaving the company. Ms. Kline currently serves as Senior Vice President of Business Development for TDC Group, with oversight of the national business development team, sales, distribution, agency management, and affinity programs. 'I am thrilled to congratulate Laura on her expanded role at The Doctors Company,' said Deepika Srivastava, Chief Operating Officer of The Doctors Company. 'She has been a key contributor to our growth and success, serving in many executive roles following an acquisition over 15 years ago. Her extensive experience in healthcare and professional liability insurance and her proven leadership make her very well suited to drive continued excellence in our Northeast Region.' Ms. Kline joined the company in 2011 following the acquisition of American Physicians Assurance, where she served as Vice President of Marketing and President of the alternative risk transfer subsidiary. She has considerable expertise in the areas of healthcare and medical malpractice insurance and holds a master of business administration (MBA) degree from the University of Michigan Ross School of Business, a bachelor of arts degree from the University of Michigan, and has completed the Executive Scholars Program at Northwestern University's Kellogg School of Management. 'I am very excited to lead the Northeast Region, oversee operational excellence, and ensure growth as we advance, protect, and reward the practice of good medicine,' Ms. Kline said. 'We will continue to serve and advocate for all healthcare professionals as a strong partner for this robust region.' About The Doctors Company Founded and led by physicians, The Doctors Company ( the nation's largest physician-owned medical malpractice insurer, is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company helps physicians manage the complexities of today's healthcare environment—with expert guidance, resources, and coverage. The Doctors Company is part of TDC Group ( the nation's largest physician-owned provider of insurance and risk management solutions. TDC Group serves the full continuum of care, from individual physicians to academic medical systems—over 110,000 healthcare professionals and organizations nationwide—with annual revenue of $1 billion and over $7.3 billion in assets. To learn more about our data-driven insights and to stay up to date on industry trends, follow and subscribe to The Doctors Company on X ( @doctorscompany), YouTube, LinkedIn, and Facebook.
