THE WOODLAND GROUP CREATES INSURANCE OFFERING
FOR HEALTHCARE PROVIDERS

Leading N.J. insurance firm announces The Woodland Alliance Profile,
a Risk Management Program for physician practices

 

Sparta, NJ -- June, 1998 -- Recognizing the specialized insurance needs of today’s healthcare community, The Woodland Group (TWG), one of New Jersey's leading insurance firms, has announced the launch of The Woodland Alliance Profile, a property and liability insurance offering designed especially for the healthcare industry.

The insurance industry so far has taken a generic approach to insuring the healthcare markets. "The insurance companies do not seem to understand that you can't use the same product to insure a hardware store as to insure a doctor's office," states Bernard K. Mallan, president of The Woodland Group. "We had to create coverage specifically designed to address the unique exposures found in a medical practice," continues Mallan. The Woodland Alliance Profile represents a cooperative initiative between The Woodland Group and Selective Insurance.

Approaching the insurance process with expertise culled from years of first-hand interaction with members of the healthcare community, The Woodland Group, in partnership with Selective, has created a risk management group that gives medical practices the opportunity to share in underwriting profits. Through The Woodland Alliance Profile, New Jersey medical practitioners now have the option to purchase never before offered coverages in one policy, covering patients' files, diagnostic equipment, computers, employee dishonesty and much more. The risk management group also offers broadened general liability and workers compensation.

"The Woodland Alliance Profile breaks through an insurance paradigm! With newly developed coverages, it also attacks the fixed costs associated with the medical practice," continues Mallan. "It is representative of the type of innovative policy customization that will dominate tomorrow’s healthcare industry."

The Woodland Alliance Profile features:
bulletA comprehensive risk management approach to insuring medical practices; bulletPhysician's council; bulletIndustry-specific coverage; bulletA simplified short-form application with a 24-hour turnaround time; bulletCompetitive pricing; bulletAn emergency claims team available 24 hours a day, seven days a week; bulletInstant access via e-mail, fax, toll-free number, pagers and cell phones; bulletThe opportunity to share in the insurer's profits, significantly reducing insurance overhead.

Selective Insurance has created a claims unit dedicated to serve The Woodland Alliance Profile clients. Understanding the sense of urgency when dealing with physicians’ practices, the claims unit is available 24 hours a day, seven days per week via a toll-free phone number. The Woodland Group representatives have direct access to the claims unit and facilitate all claims.

"Most practices never even see their insurance agent let alone have annual protection reviews. They are treated like house accounts and get little attention," states Mallan. Recognizing this fact, The Woodland Group's representatives are available to meet in-person or via telephone conference with clients at their convenience. "Our partnership relationship with Selective Insurance allows us to be online so we can take advantage of fast, efficient, state-of-the-art electronic interfacing," continues Mallan. "This allows us to maintain our high standards of quality and service, while offering today's medical practices a cost-effective alternative to traditional medical coverage, and service they are accustomed to."

Selective Insurance, based in Branchville, NJ has been protecting businesses since 1926. Selective offers a broad range of insurance products and services insuring "main street" businesses, light industry, public entities and individuals. They are a regional property and casualty insurer operating in 16 eastern and midwestern states. Rated A+ by A.M. Best and Standard & Poor's, Selective's common stock trades on the Nasdaq Stock Market under the symbol SIGI.

The Woodland Group, based in Sparta, NJ, is one of New Jersey's leading insurance firms offering coverage and services in a variety of areas, including: medical malpractice, managed care liability, group health, group disability, group term life, estate planning, 401K plans, annuities, homeowners’ insurance and auto insurance (home and business). For more information on The Woodland Alliance Profile or any other services offered by The Woodland Group, call toll-free at 1-800-253-1521. 

Bernard K. Mallan
973-383-32421