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Midwest Insurance Group
Caitlin-Morgan manages risk retention group, Midwest Insurance Group, Inc, which is owned by its member companies. The group was formed to provide the healthcare industry – assisted living, residential communities and nursing homes – in Indiana with an alternative to rising professional and medical malpractice liability costs. Members of Midwest Insurance Group gain the benefits of stable pricing due to Indiana’s favorable and regulatory environment.
The group participates in Indiana’s Patient Compensation Fund (PCF), which has a statutory cap on professional liability limits and eliminates the possibility of huge dollar-amount verdicts. Midwest provides $250,000 in professional liability limits with the state taking on the next $1 million of any one claim. The statutory cap is $1.25 million.
Features of the program include:
- Limits are provided per location
- Defense costs outside limits
- A heavy risk management emphasis and philosophy
- Midwest is reinsured by Lloyd’s of London
- New states are considered based on volume, economy of scale and the existing legal environment
If you would like to find out more about how you can help your clients in the healthcare industry with the climbing costs of liability, call Christopher Murray to discuss our alternative solution through Midwest Insurance Group.