Policyholders moving coverage to MagMutual will have immediate access to expert claims defense, patient safety programs and dividend distribution
MagMutual Acquires South Carolina Physician Assurance Company
<0> MagMutualEd Lynch, 404-842-5536senior vice president, business developmentorDodge CommunicationsJennifer Jennings, 770-576-2556 </0>
MAG Mutual Insurance Company, the Southeast’s foremost medical professional liability insurer, acquired South Carolina Physician Assurance Company (SCPAC), which is owned, operated and governed by South Carolina physicians. Once fully integrated with MagMutual, SCPAC physicians will benefit from the company’s unrivaled claims defense—a trial win-rate of more than 85 percent—and its expert patient safety and risk management programs.
“We are hugely excited to welcome these South Carolina physicians into the MagMutual family,” says Neil Morrell, president of MagMutual. “SCPAC and MagMutual’s missions are intrinsically similar—we are both deeply committed to supporting our physician owners and empowering them to continue focusing on providing expert care.”
Morrell adds that the transaction proceeded smoothly, thanks to the efficiency and support of both the SCPAC board and the South Carolina Department of Insurance. “The seamless nature of this acquisition has allowed us to quickly turn our attention to the most important matter at hand, serving the SCPAC policyholders and responding to their needs.”
“As a physician and founding member of SCPAC, I am certain that MagMutual is the right home for all of our policyholders, and that the needs of all current and future South Carolina doctors will continue to be met,” says Dr. Gregory Tarasidis, chairman and the first policyholder of SCPAC.
SCPAC President Todd Atwater likewise states, “We are impressed with MagMutual’s commitment to its physician owners. Our doctors believe MagMutual will continue to show why it is the premier insurer not only in South Carolina, but throughout the Southeast.”
For more information about MagMutual’s professional medical liability coverage and patient safety initiatives, please visit , or call 404-842-5600 or 800-282-4882.
MagMutual provides medical professional liability (malpractice) insurance in Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Founded in 1982 by physicians, Atlanta-based MagMutual is one of the largest malpractice insurers in the U.S. with offices throughout the Southeast. The company is rated A (Excellent) by A.M. Best. Insurance products and services are issued and underwritten by MAG Mutual Insurance Company and its affiliates. For more information, visit .
South Carolina Physician Assurance Company is owned by the South Carolina Medical Association which has promoted South Carolina physicians for over 160 years. SCPAC is owned, operated and governed by South Carolina physicians.