(BRK.A), (BRK.B)
Berkshire Hathaway’s MedPro Group will participate in the US Jurisdiction medical professional liability facility of The Medical Professional Liability Company Ltd.
MedPro has added its support to that of existing subscribing Syndicate, Pembroke Managing Agency Limited Syndicate 4000. Pembroke Managing Agency Limited is a wholly-owned subsidiary of Ironshore.
Launched in January 2011, the facility offers cover on Lloyd’s paper to US institutions providing clinical services outside of the United States. The cover is enhanced by a unique offering of claims handling solutions, clinical governance review and a 24-hour legal helpline delivered by The MPLC.
MedPro and The MPLC believe the combination of their respective domestic and international expertise will provide their clients an unparalleled partner for underwriting risks that extend beyond U.S. domestic borders.
Maximum limits available for this facility are USD15M for any one claim and USD30M in the annual aggregate.
John Young, Managing Director of The MPLC said: “We are delighted to have MedPro’s and Pembroke’s support which will strengthen our program, especially for MedPro’s producing brokers and healthcare clients. The offering combines MPLC’s wide international experience with MedPro’s financial strength and experience as well as the strength and expertise of the Pembroke Syndicate at Lloyd’s of London.”
Discussing MedPro’s motivation behind the partnership, Craig Rowland, Business Development Lead for MedPro’s International Division said: “Through this facility, we are very pleased to be able to further support our domestic institutional clients, who daily trust us to protect their assets and reputations, by now being able to cover their international risks. It is always our deepest desire to continually meet the needs of our clients and serve them as their risks grow and become more complex.”
Tim Glover, Chief Underwriting Officer for Pembroke Managing Agency said: “We look forward to expanding our successful partnership with MedPro and The MPLC. Our collective breadth of experience and distribution will better serve our broker and client needs.”
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.