Americas

Coverys Announces Transfer of PEL Operations from TMS Re, Inc.

Image

Boston, MA - October 8, 2020 - Coverys, a leading provider of medical professional liability insurance, today announced that TMS Re, Inc., has transferred its Provider Excess of Loss (PEL) operation to Coverys.
 
TMS Re, Inc., headquartered in Andover, Massachusetts, has been one of the leading underwriters in the PEL business since 1996. This transaction allows TMS Re to focus on its core line of business, underwriting Employer Stop-Loss Insurance. TMS Re remains committed to growing the stop-loss business through their brokers, consultants, and TPAs. They remain one of the largest independent stop-loss writers in the U.S.

“Through collaboration with Archway Health, Coverys saw this as a strategic opportunity to expand our offerings,” said Gregg L. Hanson, CEO and president of Coverys. “The expansion into the PEL market will build upon our expertise in offering sophisticated insurance and reinsurance solutions.”
 
With the transfer of the PEL operations, Coverys has welcomed TMS Re’s experienced team. Beth Hackett brings over 25 years of experience in underwriting and actuarial functions specializing in the PEL industry. Other team members include Tara Torres, a claims manager with over 25 years of experience with PEL and healthcare reinsurance claims; Sharon Gorrell, a registered nurse experienced in providing clinical support to help manage high-cost claims; and Jessica Perez, an underwriting assistant and account analyst providing administrative support.
 
Coverys continues to provide solutions that complement and expand upon its core business and value-based care offerings to healthcare providers, hospitals, and health systems across the nation. Coverys is targeting January 1, 2021, to start writing PEL policies and will announce when state approvals have been granted and policy quotes will be released.

Trending
Share this Post:

Advertisement

ad ad

Related articles

Patrick Rastiello joins Ardonagh Specialty to lead North America Reinsurance expansion

Ardonagh Specialty has appointed Patrick Rastiello as CEO* of its North American reinsurance operations.   Patrick will be responsible for building Ardonagh Specialty’s US reinsurance...

Global Markets Overview: February 2024

In this Global Markets Overview, we explore our global outlook and share what we think it means for 2024.  https://www.wtwco.com/en-gb/insights/campaigns/global-markets-overview As...

EAMONN CUNNINGHAM WINS RIMS HARRY & DOROTHY GOODELL AWARD

Risk Management Trailblazer Presented with RIMS Highest Honor for Lifetime Achievement in Risk Management  NEW YORK (February 13, 2024) – At the RIMS New Zealand and Pacific Island...

Insurer’s Lease More Than Doubles Its Chicago Office Space

Sompo International Plans Move to 46-Story Tower at 155 N. Wacker A global specialty insurance provider is more than doubling the size of its Chicago office in a move a few blocks north, bucking the trend...

Haynes and Boone, LLP is pleased to announce that Peter A. Halprin has joined the firm as a Partner

Haynes and Boone, LLP is pleased to welcome Insurance Recovery Partner Peter A. Halprin to the firm’s New York City office. A Chambers USA-ranked attorney, Peter joins from Pasich LLP, where...

LIO Specialty Launches Revolutionary Online Portal for Life Science Insurance Solutions

Leading the Excess and Surplus Lines Market with Innovative Coverage for Cannabis and Nutraceutical Industries  West Conshohocken, PA– LIO Specialty Insurance Company proudly announces the launch...