By Robert Donohoe, TMLT President and Chief Executive Officer
At a very basic level, insurance is a promise. For TMLT, it’s a promise to protect and serve our physician policyholders, in good times and bad. If a physician is sued, TMLT stands by, supports and defends the physician.
TMLT has kept this promise to physicians for 40 years.
This is a tremendous accomplishment when you look at the history of how TMLT came together during a crisis, and how we have weathered other crises in our industry.
One such turning point occurred in the early 2000s, when TMLT faced the difficulties of the medical liability crisis. If tort reform had not been enacted, TMLT would not be where it is today.
But it was more than tort reform that brought us through that difficult time. We persevered because of the hard work of our employees and our leadership — and because we had promises to keep.
When tort reform passed in 2003, we were one of the only carriers left standing. Our promise to our policyholders, to organized medicine, and to the State of Texas was to pass the savings from tort reform on to our physicians. To do that, we had to recover from the crisis and be prepared to meet the challenges of a changing health care system.
Now — 15 years later — this promise has been kept. And TMLT has been transformed in the process. We are now the 8th largest medical malpractice company in the U.S. (ranked by surplus). Our assets now total $916 million and our surplus stands at $610 million.
In addition to our strong financials, we now have the capability to write business nationwide. We have the flexibility to offer products tailored to meet the needs of any health care professional or organization. Our product offerings are more creative than any offered by our peers, and our understanding of the marketplace is superior. We also have unparalleled claim knowledge.
Credit for this transformation goes to you . . . to our policyholders who have adapted to all the changes that have come their way.
Credit also goes to our staff members, leadership, founders, and board members. Those who came before us placed us on the right path. They set us up to keep our promises and to succeed.
So, join me in celebrating the company we’ve built. We are proud of TMLT and the promise we have kept — and will continue to keep — in the future.