MagMutual to acquire MDAdvantage

MagMutual is planning to acquire MDAdvantage .

Founded in 2002, MDAdvantage is a medical professional liability insurer in New Jersey. The company focuses on protecting the professional and financial well-being of its insured physicians with policy forms, claims defense practices and risk management services. Together, MagMutual and MDAdvantage support physician initiatives that increase patient safety and minimize the risks of liability.

“As we got to know MDAdvantage and its leadership, it became clear that our organizations share the same mission-based, policyholder-centric purpose. We both are committed to providing physicians and hospitals with the best insurance and support possible so they can concentrate on patient care. Joining forces will expand the possibilities for both companies and help us continue to grow, innovate and successfully protect the healthcare community we serve.” – incoming MagMutual Executive Chairman William Kanich, MD, JD.

MDAdvantage plans to continue to operate under its current name and maintain the company’s presence in New Jersey. MagMutual anticipates that management and front-end operations will remain in place.

“Becoming part of the MagMutual family marks the beginning of an exciting new chapter for MDAdvantage and its insured physicians. We will build on the strong foundation established over the past 20 years with a partnership that will further our legacy of service to physicians and the healthcare community. In addition, we will be able to offer even more value to physicians through MagMutual’s comprehensive product suite. I look forward to the opportunities this partnership will provide to our physicians, broker partners and company.” – Patricia A. Costante, Chairman and CEO of MDAdvantage Insurance Company.