Firm Announces Addition
OCEAN CITY -- Susan Vodak has joined the staff of Insurance Management Group, Inc., an independent insurance agency located at 77th Street in Ocean City.
Vodak joined Insurance Management Group in April as a commercial lines account manager.
She started her insurance career in 1993. Her career includes experience in property and casualty insurance and coastal exposures.New Realtor Joins Group
BERLIN -- Shamrock Realty Group announced that Dee Kradz has joined its office located at the Grays Corner Professional Center in Berlin. She brings with her 10 years of real estate experience representing clients in the purchase and sale of single-family residences, vacation homes and investment properties.
Top Agent Honored
BERLIN -- Hileman Real Estate announced the Top Sales and Listing Agent of the Month for March and April was Bethany Drew of the Power of Two team.
Hospital Bond Rating Affirmed
SALISBURY -- Peninsula Regional Medical Center announced that Standard and Poor’s has affirmed its A/Stable long-term bond rating.
The rating is attached to the series 2006 Maryland Health & Higher Education Facilities Authority revenue bonds issued as part of the Medical Center’s $100 million construction and renovation project, which was completed late in 2009.
Despite the challenges facing all Maryland hospitals in fiscal 2011 from a very low rate reimbursement increase, Standard & Poor’s acknowledged that Peninsula Regional is in a very strong business position highlighted by an excellent 73% market share, modest pension burden, low-risk debt profile and adequate cash flow to meet its capital needs.
Leadership at Peninsula Regional was also commended for reducing operating costs and creating opportunities for the Medical Center to become more efficient in its delivery of care.
“Standard and Poor’s strong bond rating affirms our strength, verifies that we are on the right track and helps to solidify our financial outlook,” said Peninsula Regional Medical Center President/CEO Peggy Naleppa, MS, MBA, PhD, FACHE. “By expanding the campus when we did and introducing new services and technology, we have positioned ourselves-even in these times of great economic uncertainty-to be a financially stable healthcare provider for the people of the Delmarva Peninsula for many years to come.”
High Grade For Enforcement
OCEAN CITY – The Town of Ocean City’s building code enforcement has earned the town’s Building Department a higher rating from the Insurance Services Office (ISO).
The Ocean City Building Department received a rating of 3 for both residential and commercial buildings. Only two out of 81 agencies reviewed in the State of Maryland have been graded 3 and no agencies have thus far graded above that level.
The ISO evaluates building code enforcement and effectiveness of municipalities on a rotating basis. Each municipality is evaluated at least once every five years. The ratings are used as one of many factors that determine insurance premiums in the jurisdiction. Communities are graded 1 to 10 with 1 the highest a municipality can receive. The building department received a 4 rating in 2005.
The grade received by a community is based on code administration (adoption of the latest codes, modifications to codes, record keeping, training and overall administrative policies and procedures); plan review; and field inspection.