The Doctors Company
Encyclopedia
The Doctors Company is a medical malpractice
insurance company headquartered in Napa, California
, USA.
Founded in 1976, The Doctors Company operates as a member-owned interinsurance exchange, with a number of wholly owned subsidiaries, and is led by a 14-member Board of Governors.
In 2008, The Doctors Company merged with Los Angeles-based SCPIE Holdings, Inc
.
In October 2010, the company completed a $386 million purchase of American Physicians Capital, Inc. On October 19, 2011, The Doctors Company acquired FPIC Insurance Group, Inc., and its subsidiaries First Professionals Insurance Company, Inc.; Advocate, MD Insurance of the Southwest, Inc.; Anesthesiologists Professional Assurance Company; and Intermed Insurance Company.
The Doctors Company acquired FPIC for $42.00 per share in cash, representing an aggregate purchase price of approximately $362 million. The transaction increased The Doctors Company’s national membership to 71,000.
Medical malpractice
Medical malpractice is professional negligence by act or omission by a health care provider in which the treatment provided falls below the accepted standard of practice in the medical community and causes injury or death to the patient, with most cases involving medical error. Standards and...
insurance company headquartered in Napa, California
Napa, California
-History:The name Napa was probably derived from the name given to a southern Nappan village whose people shared the area with elk, deer, grizzlies and cougars for many centuries, according to Napa historian Kami Santiago. At the time of the first recorded exploration into Napa Valley in 1823, the...
, USA.
Description
The Doctors Company claims to be the largest insurer of physician and surgeon medical liability in the U.S., with nearly 55,000 members nationwide, over $3 billion in assets, and more than $1 billion in member surplus in fiscal year 2010. In June 2011, the company had a financial strength rating of A (Excellent) by A. M. Best and an insurer financial strength rating of A (Strong) by Fitch Ratings.Founded in 1976, The Doctors Company operates as a member-owned interinsurance exchange, with a number of wholly owned subsidiaries, and is led by a 14-member Board of Governors.
In 2008, The Doctors Company merged with Los Angeles-based SCPIE Holdings, Inc
SCPIE Holdings, Inc
SCPIE Holdings, Inc. was an American holding company whose subsidiaries specialized in physician liability insurance. It was based in Los Angeles, California, and was listed on the New York Stock Exchange under the stock symbol SKP until its acquisition by The Doctors Company in 2008.-History:The...
.
In October 2010, the company completed a $386 million purchase of American Physicians Capital, Inc. On October 19, 2011, The Doctors Company acquired FPIC Insurance Group, Inc., and its subsidiaries First Professionals Insurance Company, Inc.; Advocate, MD Insurance of the Southwest, Inc.; Anesthesiologists Professional Assurance Company; and Intermed Insurance Company.
The Doctors Company acquired FPIC for $42.00 per share in cash, representing an aggregate purchase price of approximately $362 million. The transaction increased The Doctors Company’s national membership to 71,000.