ALAMO, Calif.--(BUSINESS WIRE)--BETA Healthcare Group (BETA), the largest professional liability insurer of hospitals on the West Coast and provider of a host of liability and workers’ compensation coverages for healthcare organizations, has maintained its “A” (Excellent) rating with a “Stable” outlook from A.M. Best. The rating reflects BETA’s balance sheet strength and strong operating performance.
A.M. Best cited several key strengths of BETA:
- Long-term history of organic surplus growth despite sizable policyholder dividends paid annually, which are used to manage capital and return profits to stakeholders.
- Strong operating performance with return metrics and operating ratios that outperform the medical professional liability (MPL) composite and the industry over the prior five-year period.
- A unique joint powers authority structure that allows for broader coverage and flexible rates.
The rating also recognizes BETA’s formal enterprise risk management program overseen by senior management with participation from the BETA Council, and the ongoing strengthening and expansion of its patient safety, employee safety, continuing education and risk management programs.
“BETA has consistently delivered on its mission and brand promise to provide superior insurance solutions and leading-edge services to our members, which is reflected in A.M. Best’s continued affirmation of our rating,” said Corey Grove, CEO of BETA Healthcare Group. “The BETA team will be there for its members with flexible coverages, strong claims handling capabilities and unparalleled risk management services while maintaining operational excellence.”
BETA Healthcare Group
BETA Healthcare Group (BETA) is the largest professional liability insurer of hospitals on the West Coast and provides 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.