Medical Protective Co. Expanding

September 18th, 2013

News Coverage:

Published: September 18, 2013 3:00 a.m.

Medical insurer expanding

MedPro renovates offices, adds 50 jobs, expects to hire more

Paul Wyche | The Journal Gazette

Medical Protective Co. of Fort Wayne is touting its growth with an additional 50 workers and the promise of more to come.

Since the spring, the company – also known as MedPro – has invested about $2 million. The business at 5814 Reed Road added workstations, made more efficient use of existing office space, expanded its parking area and built a 4,000-square-foot employee fitness center that features an aerobics/yoga studio and an activities area.

The business is a subsidiary of Warren Buffett’s Berkshire Hathaway companies, which acquired MedPro in 2005 from General Electric Co. MedPro provides health care malpractice insurance coverage and risk solutions for physicians, dentists, hospitals, health care systems and others.

The business had $800 million in sales in 2012.

MedPro sought no tax incentives, but should the need arise, county leaders won’t hesitate to consider the firm.

“They are one of Fort Wayne’s best kept secrets,” said Ashley Steenman, vice president of business development for Fort Wayne-Allen County Economic Development Alliance. “Not many people know what goes on at that big white building on Reed Road.”

But alliance officials do.

“Insurance and financial firms are the type of companies we want here,” Steenman said. “They offer high-paying jobs. They didn’t ask for incentives on this project, but if we have to come in with incentives, we’ll do that. It is the type of company where there is always a risk of it moving someplace else.”

Having been headquartered in Fort Wayne since 1899, it’s obvious MedPro is happy here, said Tim Smith, vice president of marketing.

“Except for a brief stint during the ’40s or ’50s, we’ve always been in Fort Wayne,” he said. “We stay here for a number of reasons. This is a family-friendly community rooted and grounded with moral character and a good work ethic. And Indiana is a good state to do business in from a regulatory perspective.”