PRINCETON, N.J., March 17, 2020 /PRNewswire/ -- NJ PURE, a leading medical malpractice insurer in New Jersey, announced today its partnership reinsurance contract with General Reinsurance Corporation ("Gen Re"), a member of the Berkshire Hathaway family of companies. Gen Re has an A++ (Superior) rating from A.M. Best Co. and has over $17.75 billion in assets.
This uniquely comprehensive reinsurance agreement sets NJ PURE apart from its competitors and minimizes its exposures. This agreement will strengthen its position in the industry and will support its rapid growth for years to come.
"All of our policyholders may now take added comfort in knowing that NJ PURE has the financial support of Gen Re and the billions of dollars in assets behind it," said Eric S. Poe, a principal of NJ PURE's management company and chief litigation officer of NJ PURE. The NJ PURE management team's long history of successful insurance operations in New Jersey was the primary driver behind the new agreement. Further, NJ PURE's reputation as a physician advocate and its record of fighting aggressively against frivolous medical malpractice lawsuits also contributed to forming this partnership.
"By backing NJ PURE up to 70% of our future exposures up to our policy limits, we believe Gen Re's commitment to us is a testament to our long-term business model and its viability into the future," said Poe.
About NJ PURE
NJ PURE is a medical professional liability insurance provider headquartered in Princeton, NJ which was founded during the medical malpractice crisis in 2002 by James J. Sheeran, a former state insurance commissioner, and Lena Chang, PhD, an award-winning insurance actuary and expert. For more information about NJ PURE, visit www.njpure.com.
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SOURCE NJ PURE