MDAdvantage of Lawrenceville Among Nation’s Top 10 Strongest Mid-sized P&C Insurers

By Irene maslowski
Medical malpractice carrier’s solid financials complement dedication to doctors and patients
Lawrenceville, N.J. n MDAdvantage Insurance Company of New Jersey (www.MDAdvantageonline.com), a leading provider of medical professional liability insurance, has been named the ninth best performing mid-sized commercial insurance company for 2010 by SNL Financial. The Lawrenceville, N.J.-based carrier received the highest ranking among all eligible insurers in the state.
“Our strong financial position reflects our commitment to serving the needs of New Jersey physicians and medical practices,” said Patricia A. Costante, MDAdvantage Chairman and CEO. “Our financial stability is a direct outcome of our responsible reserving, prudent investment practices and sound underwriting. We aim to provide the absolute best value to our insured physicians and we continue to develop new products that can offer superior services at a reasonable cost.”
Last September, MDAdvantage introduced Supreme Advantage™, a package of insurance coverage designed to help New Jersey physicians protect against the rising number of business risks beyond the practice of medicine in three key areas: employment practices liability, privacy and data security and medical practice administration. MDAdvantage provides all three coverages to its existing clients at no additional cost.
SNL ranks financial performance by looking at 13 key metrics and comparing the results to the other companies. It reviews categories such as returns on assets and equity and profitability ratios. MDAdvantage scored well in several key areas, including favorable reserve development that was greater than 10% of its average surplus.
About MDAdvantage
MDAdvantage Insurance Company of New Jersey, a leading provider of medical professional liability insurance in New Jersey, is committed to supporting physician initiatives that increase patient safety and minimize the risks of liability, educating the New Jersey healthcare community and investing in the future of our state’s healthcare system. MDAdvantage is also the publisher of MDAdvisor: A Journal for the New Jersey Healthcare Community. For more information, call 888-355-5551 or visit www.MDAdvantageonline.com. To find out more on MDAdvisor, including subscription and advertisement opportunities, go to www.MDAdvantageonline.com/MDAdvisor.