New Growth and Opportunity
In 1989, SVMIC began insuring physicians in Arkansas and was warmly welcomed after the state’s most dominant commercial carrier announced an enormous rate increase. Virginia was added in 1991, and Kentucky in 1996. In addition, SVMIC also added practice management services in 1996 to serve as a problem-solving resource for physicians and their practices.
In 2001, one of the largest malpractice insurance providers in Arkansas and a major player in other states, pulled out of the market. Shortly thereafter, several other medical liability carriers went into receivership. The situation forced many physicians in the Southeast to look for another insurance provider, and once again, SVMIC answered the call for help. In 2018, SVMIC launched the Mutual Value Plan to its members. The loyalty programs serves as one of the ways that SVMIC is able to reward its members and have them share in the long-term success.