Successes

Fort Wayne Medical Surety Company (FWMSC) Board of Directors shares several of their “success” comments made at our Annual Shareholders and Board of Directors meeting held recently in Arizona.

We could not be more pleased with the progress of the company over the past six years.

Dale Sloan, M.D., Lutheran Medical Group- Board Chairman of FWMSC, stated "we could not be more pleased with the progress of the company over the past six years. The initial goals we established for ourselves were to establish local physician control over the malpractice insurance component of their practices, to control costs and to build long term value that can be returned to the physicians at retirement. We have made substantial progress on each of those fronts. Risk Retention Groups continue to be formed throughout the country, particularly in the health care field as the most reasonable solution to both unstable insurance markets and to return control to the host organizations. In Indiana, many RRG's have sprouted up over the past three to four years as physicians search for better alternatives. We are delighted that here in Fort Wayne we are at the front of this trend."
Stephen Smith, retired CEO of Allied Physicians, Inc. - Treasurer of FWMSC, commented that "In retrospect this company did not exist in January 2007. It had no assets and did not have any insurance in force. We have seen very encouraging growth in terms of Assets, Net Worth, Loss Reserves and Investments. In each financial category our performance has exceeded the pre-start up projections. Our insurance policies now cover nearly one hundred fifty medical providers and multiple facilities such as ambulatory surgery centers, imaging centers and sleep centers. Now, coming close to the end of our sixth year of operation the Company has posted a positive net income in each month of operation following the initial start up costs. In each instance our projections and goals have been met or exceeded. Our budgets for 2012 would indicate that the Company will be able to continue to control insured's costs, continue to build net worth, increase its assets, investments and reserves."
Chris Lasalle, M.D. Orthopedics Northeast - Secretary of FWMCS, offered this comment, "One area where I feel we have a real leg up on other commercial malpractice insurance companies, is the area of Risk Management. Rather than the standard passive approach, our RRG offers an active Risk Management program for every physician each year. In the spring of 2012, over 150 physicians, physician's assistants, nurse practitioners and surgery center managers participated in programs held here in local convenient locations. In addition to that every practice in the Company was provided with a risk assessment at no charge. Practices that showed characteristics of improvement opportunities were provided with on site consultation from Aon Risk Managers Consulting Group, again at no charge. We feel this gives our physicians and their practices a leg up on staying ahead in terms of avoiding both losses as well as avoiding the superfluous nuisance suits. The content of our Risk Management educational training for 2013 has already been established and scheduled."
Xiao Lin., Radiation Oncology Associates - Claims Committee of FWMSC, "We can report that the claim reserves established by the Aon Actuaries are more than adequate to cover claims that are now in process of being defended. The Claims Committee meets semi-monthly to review all claims that have been filed, to hear a status report on the defense of the claim and to assess and modify if necessary the loss and defense reserve previously established. We feel that Sedwick Claims Management Services, acting as claims administrator, in conjunction with local defense counsel is doing a great job in working to defend the physician and the Company."

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