BETA has maintained an “A− (Excellent)” rating by A.M. Best, the leading insurance industry rating company, since its initial review in 1997. The “A−” rating with a “stable” outlook was reaffirmed by A.M. Best on June 20, 2011, which stated:
The rating reflects BETA Healthcare Group’s excellent risk-adjusted capitalization, favorable operating profitability and conservative loss reserve philosophy. The rating also recognizes its highly specialized market focus as a leading provider of non-assessable group risk-sharing coverage for healthcare professional liability…and very high member retention from its high-quality claims and risk management and member dividends.
The outlook reflects management’s commitment to adequate reserves and rates in addition to the benefits derived from the group’s strong market position in California.
“As a member-controlled organization, BETA is proud to continue its long standing position as a highly rated provider of medical liability coverages to California healthcare facilities and physicians,” said Tom Wander, BETA’s CEO. “A.M. Best’s reaffirmation of our A−, Excellent rating with a stable outlook demonstrates BETA’s ability to provide consistent value to our members both through our risk financing products and high quality services. With a strong financial position, BETA will continue to deliver favorably priced liability coverage while also offering substantial dividends to its members. In the past 20 years, BETA has returned over $100 million in dividends to our members, with almost $30 million declared in the past 12 months.”
To obtain more information, please visit A.M. Best.