September 7, 2011
A.M. BEST assigns "A" (Excellent) rating for TMLT and TMIC
Contact: Laura Brockway, communications, and advertising manager
(512) 425-5936 or firstname.lastname@example.org
Austin, TX — A.M. Best has assigned the financial strength rating (FSR) of "A" (excellent) and the issuer credit rating (ICR) of "a" for Texas Medical Liability Trust (TMLT). Concurrently, A.M. Best assigned these same ratings to TMLT's wholly owned subsidiary, Texas Medical Insurance Company (TMIC).
According to A.M. Best's September 7 press release, "The ratings of TMLT reflect its excellent risk-adjusted capital position, favorable operating performance, experienced management team and its leading market position in Texas. TMLT also benefits from its strong relationship with the Texas Medical Association (TMA), which has exclusively endorsed TMLT since 1992."
Physicians interested in applying for TMLT coverage or who would like more information can call TMLT's sales department at 800-580-8658.
TMLT president and chief executive officer quote
"Achieving an A rating from A.M. Best further solidifies TMLT's position as the dominant medical professional liability carrier for physicians in Texas. The rating speaks directly to our strong financials and deep Texas roots. Though the structure of medical practices may change, TMLT will continue to evolve while remaining fully committed to the Texas market," says TMLT President and Chief Executive Officer Charles R. Ott, Jr.
TMLT chief financial officer quote
"We are very pleased with our ratings from A.M. Best. The ratings reflect our commitment to maintaining financially strong and stable companies for the benefit of our policyholders. Through consistently favorable operating performances, we have built strong capital positions which enable us to provide very competitive insurance coverages coupled with superior policyholder services," states Vince Kasch, TMLT CFO.
- TMLT is the state's largest medical liability insurance provider, serving more than 15,000 Texas Medical Association (TMA) member physicians. The Trust was created and is endorsed by TMA and owned by its physician policyholders. TMLT is headquartered in Austin, Texas. For more information, visit www.tmlt.org
- TMIC was organized in 1995 as a wholly owned subsidiary of Texas Medical Liability Trust to provide an expanded menu of insurance products and services for Texas physicians. Licensed and regulated by the Texas Department of Insurance (TDI), TMIC offers Professional Medical Liability Insurance for allied health care professionals, DOs, and dentists. For more information, visit www.tmic.biz
- A.M. Best Company is the world's oldest and most authoritative insurance rating and information source, founded in 1899. For more information, visit www.ambest.com.