BETA Healthcare Group Maintains Its “A (Excellent)” Rating by A.M. Best

BETA Healthcare Group (BETA), the largest insurer of California healthcare facilities, has maintained its “A (Excellent)” rating by A.M. Best, the leading insurance industry rating company. The rating applies to BETA Healthcare Group, BETA Risk Management Authority (BETARMA) and its affiliate, Health Providers Insurance Reciprocal, A Risk Retention Group.

In reaffirming the rating, A.M. Best stated that the rating “is based on a strong balance sheet, favorable operating profitability, and a strong business profile in the medical professional liability sector in the state of California. The Credit Ratings also recognize the group’s highly specialized market focus of non-assessable group risk-sharing coverage for hospitals and medical professionals.” A.M. Best specifically acknowledged BETA’s “strict underwriting guidelines,” “proactive loss control programs” and response to “changes in the healthcare market by broadening its product and service offerings.”

Tom Wander, BETA’s CEO, said that “A.M. Best’s reaffirmation of our A (Excellent) rating with a stable outlook recognizes BETA’s long-term commitment to financial strength and to providing our members and insureds with a broad range of superior risk management products and services.”

“Our strong financial position allows us to deliver favorably priced liability coverage, offer substantial dividends to our members and invest a significant portion of our net written premiums in leading edge risk management services and initiatives directly aimed at partnering with our members and insureds to improve patient safety,” Wander continued.

At the end of 2015, BETA’s total assets approached $450 million. Since 1992, BETA has returned more than $140 million in dividends to its members, and it consistently has retention rates approaching 100%.

About BETA Healthcare Group

BETA Healthcare Group is the largest professional liability insurer of hospitals in California, providing coverage to more than 200 hospitals and healthcare facilities. BETA also has a long-established commitment to physicians which continues to grow with BETA covering nearly 6,000 physicians and more than 50 medical groups. In addition to primary liability coverage, BETA provides an entire suite of alternative risk and insurance services, including excess liability coverage, third-party claims administration services, risk management consulting services and claims management consulting services. Whether with hospitals, medical groups, clinics or hospices, BETA has earned a reputation for financial strength, rate stability, quality service and breadth of coverage that is unparalleled in the industry. For more information, please visit www.betahg.com.

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