Unique Structure
We are unlike any other Medical Liability Insurance Company in New Jersey
History has shown that physician-owned insurance companies have been the most successful over the long term. When we created Conventus, we studied the most successful physician-owned companies in the country, learning from their successes and mistakes. The result: a best-in-class reciprocal exchange that is unlike any other insurance option available in New Jersey.
100% Physician Owned
With a commercial insurance company, your insurer makes all the decisions, sets the priorities for the company, and profits from your premiums. As an owner, YOU have input into how the company is run, and YOU benefit from any profit the company makes. Which option would you prefer?
100% Physician Governed
As an owner, you have the opportunity to actively participate in guiding the direction of the company if you choose. The 15-member Conventus Board of Governors is composed entirely of practicing physician owners, as are the governance committees that advise the Attorney-in-Fact on areas like risk management, underwriting and claims management. This physician governance is your guarantee that our members alone set the priorities and control the direction of the Exchange, so the best interests of physicians will always be the top priority.
Proven Claims-Made Policy Form
Conventus’ claims-made policy form, the widely accepted standard form of coverage across the country, has been proven to stand the test of time. It is also the only form of coverage supported by the commercial reinsurance market.
A Not-For-Profit Company
Unlike commercial insurance companies, Conventus does not have outside shareholders, so we are not influenced by the profit motives of others. Conventus premiums are established to cover operating costs and maintain the strength of the company. If the premiums we collect exceed our costs, the excess is used to strengthen the company or returned to members.
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What Physicians Say
ABOUT Conventus
"Unlike commercial insurance companies, Conventus is focused on protecting its member physicians and their reputations, not on protecting its profits. Conventus gives me physician governance, a strong and experienced legal team, and guaranteed “consent to settle” rights, all of which make me very confident about having Conventus on my side in the event of a claim. "
-G.A.P. Ganepola, M.D.; General Surgeon; Mahwah, NJ
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