The ISMIE Mutual Insurance Co. has completed a merger with the Southeast Michigan Physicians’ Insurance Co. (SEMPIC) after receiving all required regulatory approvals, the company announced.
SEMPIC has been providing comprehensive medical professional liability insurance for Detroit Medical Center (DMC) physicians for over 10 years with high quality risk management and claims services.
Under the terms of the merger, SEMPIC will continue to operate under the same name, but as a division of ISMIE Mutual. Global professional services firm Marsh will continue to operate as the SEMPIC administrator under the new structure.
The merger was approved by the Illinois Department of Insurance and the Michigan Department of Insurance and Financial Services. Access to coverage through SEMPIC will remain limited to DMC health professionals.
Source: ISMIE Mutual Insurance Co.
Topics Mergers & Acquisitions Michigan
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