Press Releases


Conventus Reports Mid-Year Update to its Board of Governors
(Woodbridge, NJ) August 10, 2009 – The management of  Conventus Inter-Insurance Exchange reported mid-year updates at its quarterly Board of Governors meeting held on August 5, 2009 in Woodbridge, New Jersey. As of Q2 2009, Conventus' total assets stood at $79.0 million, with a total surplus of $25.1 million.  Generally accepted in the insurance industry as strong indicators of financial stability, the company's Net Written Premium to Surplus ratio remains among the best in the state at  .68 to 1 (projected year-end 2009).

"With a total of 1085 members as of June 30th, we continue to retain members and even grow in a fiercely competitive medical professional insurance market," said Conventus President John Karlen.  "Our renewal retention rate is 98% at the mid-year point - a testament to the fact that we are succeeding at our efforts to provide value to our members at every turn." 

Conventus' Risk Management and Claims departments continue to provide proactive protection to Exchange members.  The Risk Management department had direct contact with a third of the Conventus membership in 2008 and is on track to help nearly half of the membership this year, either through the 24-hour Confidential Hotline or on-site visits for member-requested Risk Assessments.  The Exchange issued 17 communications to members via mail and email during the first half of the year, alerting its membership of important regulatory announcements, relevant news items and other urgent risk alerts.

As of an April 2009 Claims Survey, Conventus received a 96% satisfaction rate from its members.  "This is an outstanding number," commented Karlen, "and indicates that we are achieving our goals of putting physicians first and aggressively protecting our members."

"Given the unstable economic climate, conducting business with a disciplined business model will continue to be a key factor in our success," said Karlen.  "We operate the Exchange with one thing in mind: We are here for our members today, and will continue to be here for them well into the future."

About Conventus
Conventus Inter-Insurance Exchange is the only medical professional liability insurance company in New Jersey that is 100% owned and governed by its physician members. Formed in response to New Jersey’s medical professional liability insurance crisis, Conventus is a non-assessable reciprocal insurance exchange that is managed by experts in the property and casualty insurance industry. Its management team has extensive experience in medical professional liability insurance and in managing underwriting results for companies like Conventus.