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MagMutual buys South Carolina Physician Assurance

IBR Staff Writer Published 03 May 2013

Atlanta-based MAG Mutual Insurance has completed the acquisition of South Carolina Physician Assurance, which is owned, operated and governed by South Carolina physicians, for an undisclosed amount.

Following completion of the transaction, SCPAC physicians can have access to MagMutual claims defense and its patient safety and risk management programs.

The company's claims defense has a trial win-rate of more than 85%.

MagMutual president Neil Morrell said the acquisition supports a similar aim to support physician owners and helping them to continue focusing on providing expert care.

Additionally, policyholders can have immediate access to dividend distribution when moving coverage to MagMutual.

Founded in 1982, MagMutual provides medical professional liability (malpractice) insurance in Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee and Virginia, US.