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:
- A balance sheet that is at the strongest level with risk-adjusted capitalization, a conservative investment portfolio, and consistently favorable loss reserve development.
- Strong operating performance that outperforms the medical professional liability (MPL) composite in various performance metrics.
- Policyholder dividend used to manage capital and return profits to stakeholders.
The ratings also recognize BETA’s formal enterprise risk management (ERM) program overseen by senior management with participation from the BETA Council, and the ongoing strengthening of its patient safety, employee safety, and continuing education and risk management programs.
“A.M. Best’s recognition of BETA’s continued financial strength and operational performance reflects confidence in our organization,” said Corey Grove, CEO of BETA Healthcare Group. “Over the years we have demonstrated an ability to provide consistent and leading-edge services to our members, while focusing on building on our core strengths and maintaining operational excellence.”
Over the past 28 years BETA has returned more than $197 million in dividends to its members, an amount unsurpassed by any hospital professional liability insurer doing business on the West Coast.
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, health centers, clinics, hospices, medical groups, aging services, and physicians and other healthcare workers. For more information, please visit www.betahg.com.