Avreco Expands to Three Professional Liability Divisions
AVRECO, a Chicago-based provider of specialty professional liability programs, says it has expanded into three divisions - Avreco Brokerage, Avreco Consulting and Avreco Underwriting.
The firm was established 35 years ago as a wholesale brokerage operation that provides specialty liability programs, and was acquired two years ago by Mutual Risk Management, Ltd. (MRM).
``By combining the medical malpractice experience and expertise of Avreco Brokerage with the resources of MRM, the new Avreco is a multi-faceted professional liabilities leader offering integrated solutions to professionals and businesses,'' said Kieran Dempsey, managing director of the Avreco holding company.
Avreco Brokerage offers medical malpractice insurance through agents and brokers. President of this wholesale brokerage division is William Yurek, who joined Avreco in 1977 and helped build its medical malpractice program business.
Today Avreco insures some of the country's leading medical institutions, including the Harvard Medical School affiliated hospitals, as well as Yale University, Cornell University, the University of Rochester, Columbia University, Duke University, University of Florida and the Johns Hopkins Medical Center.
Yurek is a member of the American Hospital Association, the American Society for Health Care Risk Management and the Healthcare Financial Management Association.
Avreco Consulting, formerly PRISM, will offer consulting services and market retail medical malpractice products. Dianne O'Donnell is president of Avreco Consulting.
O'Donnell joined Prism in 1993 and has more than 20 years experience in healthcare finance. A CPA and Associate in Risk Management (ARM), she has held positions with Premier Alliance, Michael Reese Hospital and Blue Cross/Blue Shield.
Avreco Underwriting will provide professional liability underwriting and employment-related practices for doctors and hospitals, lawyers, architects and engineers, design and build contractors and other professionals. The Underwriting division president is Kieran Dempsey.
Dempsey has 15 years of industry experience, joining Professional Underwriters of Wayne, Pa. in 1994 and leading the company's program development and underwriting. Prior to joining Professional Underwriters, which was acquired by MRM in 1996, Dempsey held underwriting management positions with Chubb and Cigna. He has an Associate Risk Management (ARM) designation.
Avreco, which has offices in Chicago and New York City, is a subsidiary of Mutual Risk Management, Ltd., headquartered in Hamilton, Bermuda.