The Doctor’s Advocate | Second Quarter 2018
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Industry and Company News
2018 Member Dividend Announced
The Board of Governors has declared a 2018 premium dividend of approximately $19 million. The company has paid out more than $415 million in dividends since the program started in 1976.
“For 13 consecutive years, we have recognized and rewarded our members by paying a dividend,” said Richard E. Anderson, MD, FACP, chairman and CEO. “Unlike commercial insurers that reward shareholders, we reward our members through our generous dividend program and with the Tribute® Plan, an unrivaled career benefit that recognizes members for their loyalty and their commitment to the practice of good medicine.”
The dividend was recently approved for eligible members in the following states: Colorado, Florida, Idaho, Illinois, Maryland, Michigan, Montana, New Mexico, North Carolina, Ohio, Oregon, Texas, Virginia, Washington, and Wyoming. The dividend will vary from 2 to 20 percent depending on the loss experience of the individual state.
Members of the American Academy of Otolaryngology—Head and Neck Surgery and the American Society of Plastic Surgeons® may also receive a dividend.
Eligible members will receive this year’s dividend on their annual premium for policy renewals on or after July 1, 2018.
Now Exclusively Endorsed by the New York County Medical Society
The New York County Medical Society (NYCMS) recently selected The Doctors Company as the exclusively endorsed medical malpractice insurer for its members.
“In giving an exclusive endorsement, we decide who provides the best benefits to our members. The Doctors Company is the ideal choice for our endorsement, as they are founded and led by physicians and owned by members,” said Scot B. Glasberg, MD, NYCMS president. “In selecting The Doctors Company, our members gain a partner uniquely aligned with physicians for over 40 years. Physicians in New York are used to dealing with a company that is owned by physicians. New York allows reciprocals to offer more than shareholder-owned companies can offer.”
NYCMS members are now eligible for a multitude of benefits from The Doctors Company, including aggressive defense; expert patient safety tools, information, and programs; risk management courses for physicians to maintain Section 18 excess eligibility; primary and excess coverage through a single carrier; and a range of coverage options for both physicians and ancillary healthcare providers.
“We share an abiding commitment with the New York County Medical Society to advance the practice of good medicine,” said Richard E. Anderson, MD, FACP. “We are dedicated to supporting the medical profession in New York and to being a strong, proactive partner for members of this prestigious society.”
Eligible NYCMS members of The Doctors Company will also participate in the Tribute Plan, which rewards doctors for their loyalty and commitment to superior patient care.
The Doctors Company recently expanded its presence in New York and is now offering coverage on an admitted basis. Additionally, New York medical groups can be issued coverage through The Doctors Company Risk Retention Group, which recently was rated “A” (Excellent) by A.M. Best.
The Doctor’s Advocate is published by The Doctors Company to advise and inform its members about loss prevention and insurance issues.
The guidelines suggested in this newsletter are not rules, do not constitute legal advice, and do not ensure a successful outcome. They attempt to define principles of practice for providing appropriate care. The principles are not inclusive of all proper methods of care nor exclusive of other methods reasonably directed at obtaining the same results.
The ultimate decision regarding the appropriateness of any treatment must be made by each healthcare provider considering the circumstances of the individual situation and in accordance with the laws of the jurisdiction in which the care is rendered.
The Doctor’s Advocate is published quarterly by Corporate Communications, The Doctors Company. Letters and articles, to be edited and published at the editor’s discretion, are welcome. The views expressed are those of the letter writer and do not necessarily reflect the opinion or official policy of The Doctors Company. Please sign your letters, and address them to the editor.