LAWRENCEVILLE, N.J.--()--Patricia A. Costante, Chairman and CEO of MDAdvantage Insurance Company of New Jersey (MDAdvantage), a leading provider of medical professional liability insurance in New Jersey, is pleased to announce that A.M. Best, the nation's most recognized insurance rating organization, today assigned MDAdvantage an initial financial strength rating of “A- (Excellent)” with a “stable” outlook.
“We appreciate A.M. Best recognizing MDAdvantage’s financial strength, dedication to risk management and commitment to sound underwriting and claim management principles”
A.M. Best recognized MDAdvantage’s recent strong operating performance, supportive capital position and favorable reserve development. In addition, A.M. Best also recognized the Company’s dedication to risk management, its conservative investment portfolio, and commitment to sound underwriting and claim management principles. The Company’s experienced management team, with an in-depth knowledge of the New Jersey medical professional liability environment, was also acknowledged as a positive factor by A.M. Best.
“We appreciate A.M. Best recognizing MDAdvantage’s financial strength, dedication to risk management and commitment to sound underwriting and claim management principles,” stated Costante. “We are proud of this rating and exceedingly gratified that we have been able to accomplish so much in our first decade. We are grateful to our New Jersey physician policyholders, employees and brokers for their loyal support. We remain committed to maintaining our financial stability and to being a physician support system providing New Jersey physicians personalized, local services.”
About A.M. Best Company
Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
MDAdvantage Insurance Company of New Jersey, a leading provider of medical professional liability insurance in New Jersey, is committed to enhancing physician education, improving physician-patient communication and helping patients make better-informed decisions. MDAdvantage is also the publisher of MDAdvisor: A Journal for the New Jersey Healthcare Community. For more information on MDAdvantage, call 888-355-5551 or visit www.MDAdvantageonline.com. For more information on MDAdvisor, including subscription and advertisement opportunities, go to www.MDAdvantageonline.com/MDAdvisor.
Each year, MDAdvantage recognizes exceptional physicians and healthcare leaders through its sponsorship of the Edward J. Ill Excellence in Medicine Awards. For more information, visit www.EJIawards.org.