OSMA Awards The Doctors Company Exclusive Endorsement
Columbus, Ohio—April 23, 2009— The Ohio State Medical Association (OSMA) has endorsed The Doctors Company, the largest national insurer of physician and surgeon medical liability, as the preferred medical liability insurer for its membership.
“While the medical liability marketplace has improved, with fewer claims and lower premiums, medical liability continues to be among the top concerns of physicians in Ohio,” said OSMA President Roy H. Thomas, MD. “Our endorsement of The Doctors Company helps provide our members with affordable medical liability insurance.”
Physicians must be current, active members of the OSMA to qualify for the professional liability program. Members who meet the requirements for all of the premium discounts and credits can receive up to an additional 10 percent premium reduction in their medical liability insurance. This includes several exclusive discounts: a 5 percent premium discount, a 2.5 percent credit for those members who use the OSMA EHR Standards of Excellence Program or the OSMA Patient Satisfaction Program, and a 2.5 percent claims-free credit.
The Doctors Company offers a combination of coverage features, aggressive claims handling, and educational resources. In addition to participation in its multiyear dividend program and free CME, members insured with the Doctors Company are eligible to participate in the Tribute® Plan, a financial award that rewards physicians for their loyalty to The Doctors Company and their dedication to practicing good medicine.
"We appreciate that the OSMA recognizes The Doctors Company's long-standing commitment to the Ohio physician marketplace. With the largest professional liability staff dedicated exclusively to the state's physicians, we deliver unparalleled service, aggressive legal defense, and member benefits no other insurer can match," said Thomas G. Luffy, regional vice president of underwriting for The Doctors Company.
The exclusive endorsement with The Doctors Company is the latest effort by the OSMA to provide its members with affordable medical liability insurance. In 2002, with premiums increasing nearly 30 percent, Ohio was in a state of medical liability crisis. Many doctors were eliminating high-risk procedures, while others contemplated leaving the practice of medicine altogether, putting access to care in jeopardy.
However, through the work of the OSMA, physicians rallied together to change the medical liability landscape in Ohio. The OSMA sponsored 20 sweeping tort reform measures, which were enacted in 2004. Since then, premiums are down nearly 20 percent in the last three years and there has been a 34 percent decrease in medical liability lawsuits during that same time frame.
For more on the OSMA’s endorsement of The Doctors Company, go to www.osma.org.
About OSMA
The Ohio State Medical Association is a statewide association representing 20,000 Ohio physicians, residents, medical students and practice managers. It is dedicated to improving the practice of medicine for physicians, their staff and patients, by advocating their position, saving them time and money, and promoting the medical profession. The OSMA is affiliated with the American Medical Association on the national level and county medical societies on the local level.
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 with 45,000 member physicians, $2.8 billion in assets, and an A rating by Fitch Ratings.