A large professional medical liability insurer based in New York has become part of the Berkshire Hathaway group following its acquisition by National Indemnity Company, a subsidiary of Berkshire Hathaway.
The chief executive of Medical Liability Mutual Insurance Company (MLMIC) said the deal would offer it better financial security and allow it to expand its offering.
“We are delighted to partner with such a fine organisation. MLMIC has always had strong standing and stability within the challenging New York insurance market, and the arrangement with Berkshire Hathaway, will bring policyholders further peace of mind, knowing MLMIC will be able to offer an even higher level of financial security,” said Robert Menotti, president of MLMIC.
“In addition, MLMIC will be able to expand its offerings, with more customised policy limits, risk-sharing features and services to groups, facilities and other large accounts.”
In a letter to policyholders, Menotti said: “Berkshire Hathaway values our operations, board, staff and endorsed partners. Most importantly, Berkshire Hathaway is committed to MLMIC’s future success and its ongoing dedication to serving policyholders.”
Berkshire Hathaway, US, National Indemnity Company, Medical Liability Mutual Insurance Company, Liability, Insurance, M&A, Data risk, Robert Menotti