A.M. Best Announces Upgraded Rating for Preferred Physicians Medical
PPM Earns A- Rating from A.M. Best.
Shawnee Mission, KS - January 25, 2011 - Preferred Physicians Medical (PPM), industry leading provider of professional liability insurance for anesthesia practices, announced today the company's A.M. Best rating has been upgraded to A- (Excellent) with a stable outlook as of January 21, 2011.
In its rating announcement, A.M. Best, the industry's leading independent insurance rating organization, notes the A- rating reflects PPM's "excellent risk-adjusted capitalization and sound operating performance." In addition to noting improved capitalization, A.M. Best also explains that "recent underwriting gains have been driven by the company's focused underwriting strategy, extensive risk management program and geographic diversification." For more information see A.M. Best's press release.
PPM's President and Chief Operating Officer, Steve Sanford, notes "this rating upgrade confirms PPM's strong operating results, the company's growing financial strength and further validates the financial stability PPM delivers to our policyholders." According to Sanford, "PPM's upgraded rating follows the successful implementation of a capital management plan by PPM's Board of Directors designed to bolster the company's long-term financial stability."
According to Brent Hodges, PPM's Vice President of Underwriting, "The upgraded rating is truly a testament to the quality of care provided by our insured clinicians, and a confirmation of the positive results of their clinical abilities coupled with the effects of our stringent underwriting standards."
Formed by anesthesiologists to specifically address the professional liability insurance needs of anesthesiologists and their practices, PPM has pioneered the concept of a specialty-specific insurance company. Owned exclusively by its policyholders, PPM has exclusively insured anesthesiologists and their practices since 1987.
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