In 1976, as a result of a medical malpractice crisis that existed in Mississippi, members of the Mississippi State Medical Association joined together to establish Medical Assurance Company of Mississippi. During these difficult times in the medical profession, many physicians could not purchase medical malpractice insurance for any price and chose to join together to create their own professional liability company to serve and support their needs.
After 40 years, MACM’s purpose remains the same today as it was when the company was founded…to provide quality, affordable coverage to physicians living and practicing in the state of Mississippi. Medical Assurance Company was established by Mississippians to protect and serve only Mississippi physicians.
MACM’s insureds benefit from physician involvement at every level. The Board of Directors and Committees consist entirely of practicing Mississippi physicians. Important decisions affecting insureds are made by their peers and by people who have vast experience with Mississippi’s medical/legal environment.
Actuarially sound rates protect the financial integrity of the Company and premium refunds are given to insureds when appropriate. In 2014, MACM’s A-(Excellent) rating was upgraded to A (Excellent) by the A.M. Best Company, the premier national rating service for insurance companies. This rating reflects the Company’s continued profitability, excellent level of capitalization, conservative loss reserving philosophy, and strong market position within the Mississippi physician marketplace.
MACM is not under pressure to maximize profits in order to satisfy stockholders. Long-term stability for the Company is priority one and drives the decision-making process.
No company in Mississippi offers greater stability or member services than Medical Assurance Company of Mississippi. With nearly 3,000 policies in force, MACM provides coverage for more Mississippi physicians than all other companies writing in the state combined.