Caitlin Morgan Insurance Services manages the risk retention group, Midwest Insurance Group, Inc., which is owned by its member companies. The group was formed in Indiana to provide the healthcare industry – assisted living, residential communities and nursing homes – 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 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 verdicts. Effective July 1, 2017, Midwest Insurance Group provides $400,000 in Professional Liability and General Liability limits with the state taking on the next $800,000 (if less than 100 beds) or $1,600,000 (if more than 100 beds) of any one claim. Midwest Insurance Group is also reinsured by Lloyds of London, with an A rating and over $2 billion of assets. This organization provides extra insurance coverage for catastrophic events and frequency of claims.