The Doctor’s Advocate | Third Quarter 2015
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Industry and Company News:
Third Quarter 2015
The Doctors Company Named a 2015 Ward’s 50 Top-Performing Company
We have again been named a Ward’s 50® top-performing company. This marks the seventh consecutive year that we have achieved Ward’s 50 status, and the 14th overall.
Ward Group, an insurance industry management consulting firm and provider of benchmarking and best practices services, chose the top performers after analyzing the performance of nearly 3,000 property-casualty insurance companies based in the U.S. over a five-year period (2010–2014).
“Once again, we are honored that Ward Group has recognized The Doctors Company as one of the top insurance companies in the United States,” said Richard E. Anderson, MD, FACP, chairman and CEO. “This award is a testament to our financial strength, which gives us the power to protect and defend our 77,000 members now and in the future and to meet our mission-driven commitment to our members. Our conservative fiscal approach and conscientious investment strategies have yielded a member surplus of $1.8 billion—the largest of any physician-owned medical liability insurer in the nation—and $4.5 billion in assets.”
Latest Annual Report Now Available
Our 2014 annual report outlines our steadfast commitment to members as the healthcare environment evolves. Go to www.thedoctors.com/annualreport.
Fitch Ratings Affirms Our “A” Ratings
Fitch Ratings has affirmed our “A” (Strong) Insurer Financial Strength (IFS) ratings. Fitch also announced that the rating outlook for all ratings is “Stable.”
The ratings are based on The Doctors Company’s above-average underwriting performance and profitability compared to its medical professional liability insurance peers, favorable loss reserve levels, strong statutory capital position, and an experienced management team that employs a conservative operating strategy that is focused on long-term underwriting profitability.
Board Member Dr. James Bagian Honored
James P. Bagian, MD, PE, has been named one of the 50 Experts Leading the Field of Patient Safety by Becker’s Hospital Review. Dr. Bagian is a member of the Board of Governors and serves as chair of the board’s Patient Safety Committee.
Becker’s 2015 list of 50 experts includes advocates, professors, researchers, administrators, and healthcare providers who have made an impact on reducing patient harm and ensuring safety in the industry.
Dr. Bagian is director of the Center for Healthcare Engineering and Patient Safety and a professor in the Medical School and the College of Engineering at the University of Michigan. He is also a diplomate of the American Board of Preventive Medicine; a member of the NASA Aerospace Safety Advisory Panel, National Academy of Engineering, and Institute of Medicine; and serves on the Board of Governors of the National Patient Safety Foundation and as chairman of The Joint Commission’s Patient Safety Advisory Group.
In addition to his medical career, Dr. Bagian is a registered professional engineer who was a NASA astronaut for over 15 years and is a veteran of two Space Shuttle missions. He served as the first and founding director of the Department of Veterans Affairs (VA) National Center for Patient Safety and as the VA’s first chief patient safety officer, where he developed numerous patient safety–related tools and programs that have been adopted nationally and internationally.
Passing of Dr. Allan Briney
Allan K. Briney, MD, FACR, passed away on June 15, 2015, in San Diego, California. Dr. Briney was a co-founder of SCPIE and its chairman for 20 years. (The Doctors Company acquired SCPIE in 2008.) Dr. Briney, a board certified radiologist in Whittier, California, was also a past president of the Los Angeles County Medical Association (LACMA) and a former chairman of LACMA’s Board of Trustees. He served on its Board of Trustees for 17 years.
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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.
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