Rating agency notes market leadership in hospital professional liability and strong financials
ALAMO, Calif.–(BUSINESS WIRE)–BETA Healthcare Group (BETA) once again received solid reviews of its financial strength and overall credit rating from AM Best, the insurance industry’s leading credit rating agency. BETA Healthcare Group is rated “A” (Excellent) by AM Best with a stable outlook. This rating reflects BETA’s balance sheet strength, which AM Best categorizes as “Strongest.” Some key aspects of AM Best’s rating rationale include:
- Strongest level of risk-adjusted capitalization as measured by Best’s Capital Adequacy Ratio (BCAR)
- Prudent loss reserving practices, resulting in consistently favorable development of prior accident year reserves
- Sound liquidity measures supported by an invested asset base that predominantly consists of high-quality fixed-income securities
- Overall results have been consistently profitable over the most recent five-year period
BETA is recognized as a leading provider of hospital professional liability and the second-largest medical professional liability (MPL) provider in California, based on 2024 direct premium written (DPW), and for having a unique joint powers structure that allows for broader coverage and responsive rates.
“Our financial strength and broad footprint on the West Coast allow us to provide high-quality services to our geographically diverse customers,” said Corey Grove, CEO of BETA Healthcare Group. “BETA’s sole focus on healthcare and commitment to patient and employee safety positions us as a unique partner to the healthcare industry. We are nimble and leverage our expertise to create innovative and leading-edge risk management solutions that assist healthcare organizations to deliver quality care, positive patient experiences, and a safe workplace environment where employees can thrive.”
For the latest Best’s Credit Rating, access www.ambest.com.
BETA Healthcare Group
BETA Healthcare Group (BETA) is a leading provider of hospital professional liability in California and provides coverage for more than 650 hospitals and healthcare facility locations. In addition, BETA provides workers’ compensation coverage for over 90,000 healthcare workers in California. BETA also has a long-established and growing commitment to physicians, providing medical professional liability coverage to over 7,700 physicians and more than 70 medical groups. For more information, please visit www.betahg.com.
Contacts
For more information:
Karla Di Grazia
925.310.5340
[email protected]
