Conventus Inter-Insurance Exchange
Conventus Inter-Insurance Exchange is a physician owned and governed medical professional liability insurance reciprocal, dedicated exclusively to insuring New Jersey private practice physicians and surgeons.
Conventus is governed by a 15-member Board of Governors comprised entirely of practicing physician-owners who advise the Attorney-in-Fact, NIP Management Company, LLC, on issues that are important to the membership. The management team at NIP Management has extensive experience in medical professional liability insurance and in managing underwriting results for companies like Conventus. Members also help guide the direction of the Exchange by participating on committees such as risk management, underwriting, claims management and professional affairs.
Now more than 1,000 members strong, Conventus’ conservative, fiscally responsible approach to pricing and membership eligibility has helped build a company that is financially strong and well-positioned for long-term success.
History of Conventus
The genesis of Conventus was a result of the deteriorating market conditions in New Jersey in 2002. The NIP Group was approached by a group of physicians to develop a response to this problem because of the company’s long history of building successful underwriting programs that outperform industry standards.
The team at NIP spent considerable time researching the market and evaluating physician owned companies throughout the country. Our goal was to build a best-in-class reciprocal that would stand the test of time and provide the New Jersey physician community the service they deserve. After borrowing best practices from successful companies and learning lessons from failed enterprises, NIP recruited the best partners and employees available and launched Conventus Inter-Insurance Exchange in 2003. Since its launch, the exchange has gained well over 1,000 members, and continues its steady, stable growth.
For more information, visit the Conventus website at www.conventusnj.com