The Doctors Company Files for Rate Decrease for California Physicians
NAPA, CA, Sep 04, 2008 (MARKET WIRE via COMTEX) — The Doctors Company, the largest national insurer of physician and surgeon medical liability in the U.S., has filed a request with the California Department of Insurance for an average rate reduction of 18.2 percent for its California member physicians.
Depending on medical specialty and practice location, most California physicians will see premium reductions ranging from 10 to 30 percent. In addition to the rate reduction, the company has also requested increasing its claims-free discount from 12.5 percent to 17.5 percent for a number of surgical specialties — including general surgery, neurosurgery, orthopedic surgery, plastic surgery, and thoracic/cardiovascular surgery.
In June The Doctors Company acquired The SCPIE Companies, a major provider of health care liability insurance, increasing its California market share to 19,000 physicians.
“The financial strength and increased synergies of the newly combined organization enable The Doctors Company to reduce premiums while continuing to provide industry-leading member benefits, such as the Tribute(R) Plan,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company. “This proposed rate reduction further demonstrates our commitment to California physicians who advance the practice of good medicine.”
The premium reduction is in addition to the Tribute Plan, a unique financial benefit program that rewards physician members for their loyalty and commitment to superior patient care. The Doctors Company also offers comprehensive patient safety programs, including opportunities to earn CME credits, and a wide array of tools, support, and excellent customer service to make practicing medicine easier and more rewarding for members.
About The Doctors Company
Founded by doctors for doctors in 1976, The Doctors Company ( www.thedoctors.com) is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company is the largest national insurer of physician and surgeon medical liability in the U.S. with 43,000 member physicians, $3 billion in assets, an A rating by Fitch Ratings, and an A- rating by A.M. Best Company.