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Most insurance companies in the United States are either a "mutual" or a "stock" company. The main difference is that a mutual insurance company is owned by its policyholders but a stock insurance company is owned by stockholders who have invested capital and often receive a dividend to compensate them for investing in the company. Mutual companies can own stock companies, but mutual companies — since they are owned by the policyholders — cannot be purchased by other companies. ProMutual Group is made up of two companies. Medical Professional Mutual Insurance Company (ProMutual) is a mutual insurance company that operates only in the Commonwealth of Massachusetts. ProSelect Insurance Company is a wholly owned subsidiary of ProMutual and operates in all the New England states and in New Jersey. There are other sources of coverage. If you would like additional information about ProMutual Group and its malpractice insurance products for medical groups, please click here. To learn more about ProMutual Group, please view our 2006 Annual Report. |
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