Business Update from Paul Romano

Thank you for visiting our website. You have likely noticed the improvements we have made and the capabilities we have added to our products and services through our collaboration with our sister business unit, Healthcare Risk Advisors (HRA). While broadening the scope of the hospital and health system risks we are now prepared to consider, we have also taken the opportunity to leverage data analytic services and risk management capabilities brought to this partnership by HRA. Until now, we have represented ourselves in the marketplace separately as TDC Specialty Underwriters and Healthcare Risk Advisors. Our efforts together are now at a stage of market availability that, we believe, better reflects our combined capabilities under the identity TDC Specialty—a subtle but meaningful change.

Our six other business segments have maintained their strong performance. We continue to experience steady growth in both our medical and nonmedical businesses, with high renewal retention rates and impressive new business numbers.

  • On the non-medical side, our Life Sciences team continues to expand its footprint within this complex market by finding ways to be creative while remaining informed of the evolving risks for these types of organizations. In Management Liability, our healthcare-only approach continues to be a differentiator in this market and a source of stabilityboth for brokers who are seeking coverage for their clients as well as our healthcare insureds who continue to face increased M&A activity, regulatory issues, and increased EPL litigation.
  • Our medical segments are well established. Despite the effects of consolidation and other environmental factors on our Long Term Care segment, we are confident in our knowledge, expertise, and ability to navigate in this segment. The Managed Care market continues to be challenged by prolonged litigation and regulatory issues. Leveraging our experience, we’re committed to bringing forth creativity and value to this section of the healthcare market. In 2023, we re-opened our E&S Physicians segment for selected brokers and have been pleased with the consistent growth we’ve achieved. We’ll continue to closely monitor progress in this space and evaluate additional opportunities. Lastly, Medical Facilities continues to be one of the fastest growing segments in healthcare, and we continue to believe that there are growth and diversification opportunities in this area.

As we continue to take on 2024, we are mindful of the challenges that affect the business segments in which we operatesocial inflation, greater frequency of severity, increased regulatory activity, and shifting underwriting appetites and availability of required capacity. How we work together to find solutions is really what sets us apart in providing insureds the coverage they need and want. We have technically skilled and highly experienced underwriting and claims professionals that we are confident can offer you creative and reliable solutions while enhancing our product offerings, where appropriate, with useful services.

Feel free to contact Courtney Mrusko, SVP of Business Development for TDC Specialty, to discuss any opportunities, needs, or appetite clarifications you may need.