ALAMO, Calif.--(BUSINESS WIRE)--BETA Healthcare Group (BETA), the largest professional liability insurer of hospitals on the West Coast, has maintained its “A” (Excellent) rating with a “Stable” outlook from A.M. Best, a top rating it has held since 2015. The rating reflects BETA’s balance sheet strength and strong operating performance.
A.M. Best cited several key strengths of BETA:
- Risk adjusted capital, conservative investment portfolio and consistently favorable loss reserve development
- Policyholder dividend used to manage capital and return profits to stakeholders
- Outperforming the medical professional liability composite in various performance metrics
- Our unique joint powers authority structure that allows for broader coverage and flexible rates
The ratings also recognize BETA’s non-assessable group risk-sharing coverage for hospitals and healthcare facilities and providers, and ongoing strengthening and expansion of its patient safety, continuing education and loss prevention programs.
“We are very pleased that A.M. Best continues to recognize BETA’s financial strength,” said Tom Wander, CEO of BETA Healthcare Group. “The A.M. Best ratings reflect confidence in our organization and recognize the successful merger with ALPHA Fund, and our ability to deliver expanded capabilities and offerings.”
Over the past 25 years BETA has returned more than $160 million in dividends to its members, an amount unsurpassed by any hospital professional liability insurer doing business on the West Coast.
About BETA Healthcare Group
BETA Healthcare Group (BETA) is the largest professional liability insurer of hospitals on the West Coast and provides a host of liability and workers’ compensation coverages to protect hospitals, physicians, and healthcare workers. BETA’s financial strength, rate stability, quality service and breadth of coverage is unparalleled in the industry. For more information, please visit www.betahg.com.