March/April - West Virginia State Medical Association

WV Medical Insurance Agency | NewsValued Assistance in 2011:Accepting New Clients in 2012Now serving physician clients in 40 West Virginia CountiesThe West Virginia MedicalInsurance Agency provided“valued assistance” in 2011 foreach of its physician clients;note the following examples.CARE/RM Credits: In 2011,WVMIA clients renewingwith the West Virginia MutualInsurance Company averaged9.4% (out of a possible 10%) inCARE/RM premium credits,with 93.7% receiving 8% ormore in premium credits.While the Mutual notifies theirinsureds of scheduled programs,the Agency maintains records andfollow ups with its clients aboutneeded credits and the time/date/location of seminars in their area.In addition, the Agency hada representative present at 20Mutual CARE/CME Loss Controlprograms conducted by theMutual throughout the state.BOP and WC Savings:First-year clients of the Agencyachieved premium savingsof 18.5% on businessownerspolicies and 12.7% on workers'compensation policies.Premium Financing: In 2011,the Agency assisted 54 accountsobtain premium financing totaling$1,350,443 at interest rates between2.19% and 4.9%, plus no servicefee was added by the Agency.Exhibiting: In 2011, the Agencyexhibited at four different specialtysociety meetings, (Pediatrics,Orthopaedics, Family Practiceand Otolaryngology), and fourdifferent physician or physicianpractice organization meetings(MGMA, OMA, PhilippineMedical Association, IPA ofthe Upper Ohio Valley).Medical Component SocietyMeetings: In 2011, Agencyrepresentatives attended six differentmedical component society meetings(some more than once) makingpresentations about the valuedassistance provided by the Agency.For more information on howyou can become a client of the WestVirginia Medical Insurance Agency,a wholly-owned subsidiary of theWVSMA, please call Steve Brown,Agency Manager, at 1-800-257-4747 ext. 22 or 304-925-0342 ext22, or email: steve@wvsma.com.401 Retirement Plan(15% Discount for WVSMAMembers): Introduced a newrelationship with The Hartfordto provide WVSMA memberswith a 15% administrative costreduction for acquiring 401Kretirement plan benefits throughThe Hartford and the Agency.15%discount forWVSMA MembersYour Practice.Your Future.Your Agency.1.800.257.4747, ext. 22 » 304.542.0257See our ads on page 60 and the inside back cover.Disability Insurance(15% premium reductionfor WVSMA members):Introduced a new relationshipwith Union Central LifeInsurance Company toprovide WVSMA memberswith a 15% premium discountfor purchasing disabilityinsurance through UnionCentral and the Agency.48 West Virginia Medical Journal