Curi, formerly Medical Mutual Insurance Company of North Carolina, continues its efforts to expand its geographic reach in 2021, with plans to bring its physicians and surgeons program to Maine near the end of the first quarter.
The carrier is eyeing an effective date of March 15, 2021, with the carrier planning to utilize its Medical Mutual Insurance of North Carolina branding as it enters the state for the first time. This can be expected to put increased pressure on a very competitive market in the coming months.
This move follows a recent expansion effort aimed at the second quarter of this year, with the carrier looking to bring this same program into New Mexico on April 15. Like the carrier’s planned foray into the New Mexico market, Curi has tapped several top competitors within the state of Maine to develop its rates, rules, factors and endorsements. This includes The Medical Protective Company, Coverys subsidiary ProSelect Insurance Company and Medical Mutual Insurance Company of Maine.
As such, expect the carrier to continue being aggressive when it comes to pricing and pursuing written premium. Basic limits for the program will start at $1 million/$3 million, with increased limits of $2 million/$4 million available, though the carrier will consider higher limits on a per-insured basis. Discounting strategies employed by the company will mirror that of similar offerings in other states, including its new physician discounts of 50% on premium. Minimum premium will start at $1,000.
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