MedMal Direct Insurance Company (“MDIC”), the direct-to- physician medical professional liability insurance carrier, announces Marc D. Hammett as its new President and Chief Executive Officer effective March 2, 2022. Hammett will follow Melodee S. Dixon, who led the company for three years and made the decision to spend more time with family. Hammett’s unanimous appointment by the Board of Directors comes at a time that the organization is experiencing significant opportunities for growth in the nine states in which it serves physicians: Florida, Georgia, Illinois, Missouri, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas.
Hammett will assume the CEO role at a critical time, following the firm’s 14% year-over-year revenue growth, a changing reinsurance landscape and a litigation environment that has become increasingly challenging across the United States.
P. Butler Ball, CEO and Director of Physicians Trust, Inc., MedMal Direct’s parent company, applauded the choice, “Our Board is excited to have Marc expand his responsibilities at MedMal Direct. He has played a major role in the company’s success; he knows the firm, our team members and the business inside and out. His tenure in the industry, his financial background and his relationships within the market makes Marc ideally suited to strategically grow the organization in a disciplined manner. The Board has seen him demonstrate his experience, wisdom and depth since 2016. We have every confidence that Marc will be a great team leader and take the firm to the next level.”
Hammett has served as the Chief Financial Officer of MDIC and President and Chief Strategy Officer for Physicians Trust, Inc. since joining the firm after more than 25 years in the industry.
Reflecting on his new role, Hammett said, “I’m honored to follow Melodee and look forward to working closely with our Board of Directors, all of our team members and partners to achieve our strategic goals. Since joining the company in 2016, I have been involved in all facets of the business and am more confident than ever in MedMal Direct’s strategic growth opportunities and potential.”
Outgoing CEO Melodee S. Dixon continued the conversation. “I believe that stepping down and concentrating on my family is the right decision at this time. This was a difficult decision for me given the many opportunities I see and my confidence in the company. However, it was the right one for me personally. I’ll work through a time of transition to ensure excellent service to our policyholders and wish Butler, Marc and the entire team success as they continue to grow the business. My work here over the last five years has reinforced my believe that the talented team will position the company to grow and thrive.”
About MedMal Direct: Since 2010, MedMal Direct Insurance Company (MedMal Direct) has served doctors through a cost- saving, service-first business model that provides medical professional liability insurance directly to physicians and surgeons. The company operates in nine states: Florida, Georgia, Illinois, Missouri, North Carolina, Ohio, Oklahoma, Pennsylvania, and Texas supplying significant savings to physicians on medical professional liability insurance premiums. MedMal Direct has earned and maintains a Financial Stability Rating® of A, Exceptional, from Demotech, Inc. The company is backed by a panel of A.M. Best A (Excellent) and A+ (Superior) rated international reinsurers.
This article was shared with Prittle Prattle News as a Press Release by PRNewswire
