The Doctors Company Announces Rate Reduction for Ohio Members
The Doctors Company, the nationâ€™s leading physician-owned medical malpractice insurance carrier, is pleased to announce an average premium reduction of nearly 8 percent in Ohio beginning May 1, 2007 for new policyholders and July 1, 2007 for those renewing their coverage.
â€œThis rate reduction is further evidence of The Doctors Companyâ€™s commitment to Ohio physicians,â€? said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company. â€œAs Ohioâ€™s largest physician-owned insurer, we relentlessly protect, defend, and reward our members for their loyalty and the practice of good medicine.â€?
In addition to the premium rate reduction, a claims-free discount increase from 12.5 percent to 17.5 percent is available to various surgical specialties that meet the criteria, including general surgery, neurosurgery, obstetrics and gynecology, orthopedic surgery, plastic surgery, and thoracic/cardiovascular surgery.
In January of this year, The Doctors Company acquired OHIC Insurance Company (OHIC), a leading medical liability carrier in Ohio. With more than 4,000 total insureds, OHIC and The Doctors Company constitute the largest physician-owned medical malpractice insurance carrier in Ohio, writing approximately $100 million in premium in Ohio, while protecting more than 32,000 physicians nationwide.
â€œThe financial strength and industry leadership of our recently combined organizations enables our company to reduce premiums while continuing to provide exemplary member benefits including multi-year dividend programs, state-of-the-art patient safety resources, and CME programs,â€? said Tom Luffy, regional operating officer and CFO of OHIC Insurance Company.
About The Doctors Company
Founded by doctors for doctors in 1976 to advance and protect the practice of good medicine, The Doctors Company (www.thedoctors.com) is the nationâ€™s leading physician-owned medical malpractice insurer. With $2 billion in assets and A- ratings by A.M. Best Company and Fitch Ratings, The Doctors Company enjoys a reputation as the industry vanguard.