Constellation, a portfolio of medical professional liability (MPL) insurance and partner companies, has agreed to acquire business, assets and liabilities of Michigan Professional Insurance Exchange (MPIE).
MPIE is engaged in providing medical professional liability coverage, claims handling and risk reduction, and patient safety services.
Through its subsidiary ERC Risk Solutions, MPIE provides customised risk management services.
The agreement allows Constellation to expand in the Michigan and Ohio markets, leveraging MPIE’s service model for solutions and market expertise.
Constellation president and CEO Ryan Crawford said: “Our companies share a similar purpose, and this expansion helps us to support our policyholders and partners and furthers our purpose to champion all those who devote their lives to health care … to the essential work of enhancing health—and life.
“The completion of this transaction will enhance and expand Constellation’s footprint and ability to serve our customers in the health care industry.”
The agreement, which has been approved by the boards of directors for both companies, is subject to regulatory and subscriber approval.
It is planned for completion in mid-2022.
MPIE president and CEO Michelle Hoppes said: “MPIE subscribers will benefit by joining Constellation’s member companies including mission alignment, a culture focused on people and talent development, innovation and excellence in the delivery of customer service.”