OHA Insurance Solutions Obtains License

COLUMBUS – The Ohio Hospital Association (OHA) late last week got the green light from the Ohio Department of Insurance (ODI) for its new medical malpractice insurance company for Ohio’s physicians.

OHA Insurance Solutions, Inc., (OHAIS) is now licensed and poised to provide insurance initially for a limited number of physicians beginning Jan.1. Hospital insurance will likely be available in March.

Rates for physicians and hospitals are actuarially based. OHA Insurance Solutions does not intend to undercut the rates of existing medical malpractice insurers nor did it enter the market as a moneymaking venture. The company’s goal is to steady Ohio’s wobbly medical liability market by expanding availability of liability insurance. Expanded access to liability insurance would be even more crucial if one of Ohio’s major medical malpractice insurers pulled out of the Ohio market or tightened restrictions on coverage.

“Predictability, stability and availability are the hallmarks of OHA Insurance Solutions,” said Susan Stanfield, CEO of OHAIS. “Our communities need dedicated physicians to ensure every Ohioan has access to quality health care.”

Stanfield took the helm Dec. 16. Prior to joining OHA Insurance Solutions, she was Vice President, Healthcare Practice Leader of Marsh USA.

OHA Insurance Solutions is capitalized through a $10 million investment from OHA with additional capital coming from Ohio hospital investments. Hospitals are required to invest in OHAIS for members of their medical staffs to be eligible for insurance. The requirement is necessary to ensure OHA Insurance Solutions has adequate assets to cover potential claims losses in the future. A number of hospitals have invested or committed to investing in OHAIS.

Find OHA Insurance Solutions on the Web at www.ohainsurance.com. More information about the medical malpractice insurance crisis is also available on OHA’s Web site at www.ohanet.org/med-mal/.

OHA Insurance Solutions, Inc. was created in 2003 by the Ohio Hospital Association. OHAIS, a hospital-owned company, strives to ensure all Ohioans have access to health care by enabling Ohio's physicians and hospitals access to medical malpractice insurance. Visit OHA Insurance Solutions on the Web at www.ohainsurance.com.

The Ohio Hospital Association was established in 1915 and currently represents approximately 170 hospitals and 40 health systems throughout Ohio. OHA's mission is to provide leadership by working with member hospitals to meet the health care needs and improve the health status of the communities they serve. Visit OHA’s Web site at www.ohanet.org. For information on top health care issues, visit the online OHA News Media Center at www.ohanet.org/media/.

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