FORT LAUDERDALE, Fla., Nov. 18, 2016 /PRNewswire/ -- Florida-based AMS Management Group (AMS) has entered into a formal agreement with Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, effective October 1, 2016. AMS, a highly technical and specialized MGU, will market, underwrite, provide risk management tools and administer jointly created medical professional liability products for LIU. Liberty Mutual Insurance is a diversified global insurer and the fifth largest property and casualty insurer in the U.S., with a financial stability rating of A (Excellent) from A.M. Best and $121 billion in assets.
AMS combines traditional underwriting methodologies with cutting-edge clinical quality benchmark tools to provide best in class results. With a team that has many years of experience in the insurance and reinsurance marketplace and a strong focus on providing the best customer experience, AMS has become a proven leader in managing and administering medical professional liability insurance programs for the Healthcare community. Richard B. Welch, President and CEO of AMS Management Group states, "We are excited to embark on this strategic alliance with Liberty to provide medical professional liability solutions for physicians and physician groups on a national basis. The combination of Liberty's financial strength and AMS Management Group's experience in this segment will serve to expand service excellence and coverage to physicians committed to mitigating risk and providing value based medicine. We are aligned in our commitment to create long-term solutions that physicians will truly benefit from in their practice."
Carl Pursiano, Chief Underwriting Officer of Specialty Casualty at LIU US said: "We are impressed with the experience AMS has in this space. Their expertise and strong national network align with our growth strategies of expanding our footprint by offering multiple distribution channels, we are pleased to be a part of this exciting endeavor. Our SVP of Medical Professional Liability, Valoree Celona, will spearhead this new alliance and we look forward to working together to bring this innovative offering to a national audience."
ABOUT AMS MANAGEMENT GROUP
Best Practices Insurance Services, LLC dba AMS Management Group, provides a full spectrum of program administration; from distribution and underwriting, to risk and claims management services for medical professional liability insurers. Since its inception, AMS Management Group has been the exclusive program administrator for AMS RRG. Since 2003, AMS RRG has been providing medical liability insurance to a number of physicians and physician groups across a broad range of specialties, and today is one of the nation's premier physician risk retention groups. AMS RRG's stable, flexible, cost-effective medical liability insurance options now protect over 2,500 members.
About Liberty Mutual Insurance:
Liberty Mutual Insurance helps people preserve and protect what they earn, build, own and cherish. Keeping this promise means we are there when our policyholders throughout the world need us most.
In business since 1912, and headquartered in Boston, Mass., today Liberty Mutual is a diversified insurer with operations in 30 countries and economies around the world. The company is the fifth largest property and casualty insurer in the U.S. based on 2015 direct written premium data as reported by the National Association of Insurance Commissioners. Liberty Mutual is ranked 73rd on the Fortune 100 list of largest corporations in the U.S. based on 2015 revenue.
As of December 31, 2015, the company had $121.7 billion in consolidated assets, $102.5 billion in consolidated liabilities, and $37.6 billion in annual consolidated revenue. Liberty employs more than 50,000 people in over 800 offices throughout the world, and we offer a wide range of insurance products and services, including personal automobile, homeowners, accident & health, commercial automobile, general liability, property, surety, workers compensation, group disability, group life, specialty lines, reinsurance, individual life and annuity products.
You can learn more by visiting www.libertymutualinsurance.com.
Contact: Erika Wilson
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SOURCE AMS Management Group