The Doctor’s Advocate | Third Quarter 2012
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Industry and Company News:
Third Quarter 2012
The Doctors Company Named a Ward’s 50 Top-Performing Company
We are pleased to announce that The Doctors Company has been named a 2012 Ward’s 50® top-performing company.
This year’s selection marks the 11th time that we have achieved top-performing status. Ward Group, an insurance industry management consulting firm and provider of benchmarking and best practices services, makes its selections after analyzing the performance of over 3,000 property-casualty insurance companies based in the U.S.
“We are pleased that Ward Group has recognized The Doctors Company’s financial strength and consistently excellent performance,” said Richard E. Anderson, MD, FACP, chairman and CEO. “This award is an affirmation of our operational excellence and our mission-driven commitment to our members. We are firmly positioned to provide the industry’s most aggressive claims defense and financially reward our physician members for their delivery of outstanding patient care.”
Dr. Anderson added: “During the five-year review period, our strength and performance were enhanced through strategic acquisitions and organic growth. Because of this success, we’ve reduced operating expenses while continuing to offer competitive premium rates. These factors make it possible to protect and reward our members with more power and financial resources than ever before.”
A.M. Best Recognizes Our Financial Strength
We proudly announce that A.M. Best Company has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a” to the FPIC Insurance Group, a wholly owned subsidiary of The Doctors Company.
The upgraded ratings apply to the following FPIC Group members: First Professionals Insurance Company (FPIC), Anesthesiologists Professional Assurance Company (APAC), and Intermed Insurance Company. The Doctors Company completed its acquisition of FPIC and its subsidiaries in October 2011.
A.M. Best also affirmed The Doctors Company’s financial strength rating of A (Excellent) and its issuer credit rating of “a.” The A (Excellent) rating is assigned only to select companies with excellent ability to meet ongoing obligations to policyholders.
“We are pleased that the strength of this partnership has been recognized,” said Richard E. Anderson, MD, FACP. “Our combined organization provides FPIC policyholders with the financial strength of a physician-owned insurer with multiple A ratings and a commitment to relentlessly protect, defend, and reward its members.”
A.M. Best says the rating reflects FPIC’s supportive risk-adjusted capitalization, strong historical operating performance, high policyholder retention levels, and the benefit of both implicit and explicit support provided by The Doctors Company.
The ratings agency also recognized The Doctors Company’s excellent capitalization, long-term underwriting profitability, favorable reserve development, and leadership position in the medical professional liability market across multiple jurisdictions. An additional positive factor, A.M. Best said, is the company’s dedication to sharing its financial success with members through dividends and the Tribute® Plan.
Top Medical Malpractice Attorneys Sharpen Defense Strategies at Summit
We recently convened the West’s top medical malpractice defense attorneys to share information about litigation trends and successful defense strategies.
Now in its sixth year, our Legal Summit West is an assembly of nearly 100 of the region’s most experienced senior legal teams and industry experts. This year’s meeting included attorneys from California, the Northwest, and the Southwest, and as far away as Wyoming and Nebraska.
The sessions are central to our dedication to providing the industry’s most aggressive claims defense by keeping leading authorities up-to-date on local and national trends, plaintiff’s strategies, and best practices.
“The Doctors Company is fiercely committed to defending member physicians,” said David McHale, senior vice president and general counsel. “The Legal Summits demonstrate the company’s commitment to providing our physicians with a comprehensive defense that takes advantage of our understanding of issues both at a local and national level. It’s a perspective that belongs only to The Doctors Company.”
The summit was the first of two organized by The Doctors Company in 2012. The second session will be held in October in the Southeast region.
Our Medical Director Contributes to EHR Strategies Animated Video
PDR Network has created a short video calling on physicians to optimize the functions and benefits of electronic health records. The video, which includes comments by Medical Director David B. Troxel, MD, was developed with key points taken from a recent PDR Strategies Webcast. View the video at www.thedoctors.com/ehr.