PLANTATION, Fla.--(BUSINESS WIRE)--Healthcare Underwriters Group, Inc. (HU) and Global Insurance Management Company, Inc. (GIMC) are pleased to announce the successful completion of the merger of Healthcare Underwriters Group of Florida, Inc., Healthcare Underwriters Group of Ohio, Inc., Healthcare Underwriters Group Insurance Company of Kentucky, Inc. and the companies’ three management companies. All of the insurance companies provided medical professional liability insurance to physicians in their respective states over the past decade. Now the combined insurance company, HU, holds nearly $100 million in assets and is wholly owned and managed by its parent company, GIMC.
Commenting on the recent completion of the merger, Joshua Salman, President & CEO of GIMC and HU stated: “The completion of these complex series of transactions to form a single stock insurance company provides the Company with greater size, financial stability, flexibility to achieve broader licensing in other states and greater access to capital. The merger also permits HU to seek business from large multi-state physicians groups, healthcare facilities and other entities.”
HU will continue to be managed using the same conservative principals and philosophies it was built upon -- insure the right doctors at the right price and aggressively defend our physician’s reputations. This model has provided significant returns to HU’s policyholders and will continue to do so for policyholders and shareholders alike.
The HU Insurance Model
Founded in 2002 by physicians and a team of highly-experienced insurance executives, HU is an innovative professional liability insurance carrier that has zero tolerance for nuisance claims and an unparalleled defense program.