- Medical Mutual Holdings Board of Directors Approves $10.5 Million in Financial Allocations for Members
The payments into The Legacy Fund and Policyholder Dividend programs maintain the company's commitment to sharing financial benefits with member physicians.
- Sentinel Risk Advisors and Medical Mutual announce transformative partnership
Sentinel Risk Advisors ("SRA") and Medical Mutual Insurance Company of North Carolina ("Medical Mutual") announced today that they have entered into a strategic partnership that will expand and enhance commercial insurance offerings to clients in the 38 states that comprise SRA's marketplace. As a result of the transaction, Medical Mutual will merge all commercial insurance business currently administered by its subsidiary, MMIC Agency, into SRA for ongoing management and service. Simultaneously, Medical Mutual will acquire a minority stake in SRA.
- New Raleigh investment firm SharpVue secures $100M
A new investment firm whose leaders include former state budget director Lee Roberts is starting out with a $100 million commitment from a local business and is looking to raise significantly more money from investors. Roberts, who has a background in banking and investing, stepped down as Gov. Pat McCrory's budget director last month to become one of three managing directors at the fledgling investment firm, SharpVue Capital.
- Former budget director Roberts says bond won't raise NC taxes
In a little more than a month, North Carolina voters will head to the polls to decide whether to support the Connect NC bond. Opponents are questioning whether the bond makes sense for the state's financial future. On Thursday, former state budget director Lee Roberts said the bond won't mean a tax increase.
- Medical Mutual and HPIX announce completion of policy acquisition
Medical Mutual and HPIX announced today the completion of the policy acquisition, which was effective on January 1, 2016. The acquisition expands Medical Mutual's footprint into the Mid-Atlantic territory, and is expected to grow its insured count by almost 20%.
- Investment startup could be just what the doctor ordered N.C. Budget Director Lee Roberts left state government last week to join a startup asset management company called SharpVue Capital, whose parent company is Medical Mutual Insurance, the Raleigh-based company that sells medical malpractice insurance to more than 10,000 physicians in 27 states. As its name suggests, Medical Mutual is member owned, meaning the docs are sharing the malpractice risk with each other, rather than paying a specialty insurer for the coverage. And they share the profit.
- Medical Mutual to Assume Policies from Healthcare Providers Insurance Exchange
Medical Mutual Insurance Company of North Carolina ("Medical Mutual"), a leading provider of medical professional liability for physicians in the Southeast, and Healthcare Providers Insurance Exchange ("HPIX"), a top ten insurer of physician commercial medical professional liability in the Mid-Atlantic area, today announced that they have signed a definitive agreement under which Medical Mutual will acquire the rights, title, interests in, and the policies of Healthcare Providers Insurance Exchange. Terms of the transaction were not disclosed.
- Medical Mutual Enhances Business Model and Intellectual Capital
Earlier this year, Medical Mutual Insurance Company of North Carolina (Medical Mutual) announced its plan, and received 97% member approval, to form a mutual insurance holding company. As Medical Mutual moves towards this new business model, key management team members will assume new and expanded responsibilities, and two new senior executives have been hired to enhance the organization's leadership team.