The Doctors Company

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The Doctors Company logo
The Doctors Company
TypeMember-owned interinsurance exchange
IndustryProperty and casualty insurance
FoundedApril 15, 1976
Headquarters
Napa County, California (Napa mailing address)
,
United States
Total assets
  • US$5,886,000,000 (2019)
Websitewww.thedoctors.com

The Doctors Company is a medical malpractice insurance company headquartered outside Napa, California, USA.

Description[edit]

The Doctors Company claims to be the largest physician-owned medical malpractice insurer in the U.S, with 80,000 insureds nationwide, $5 billion in assets, $2.2 billion in member surplus, and a financial strength rating of A from A. M. Best and Fitch Ratings in fiscal year 2019.[1]

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.[2]

In 2008, The Doctors Company merged with Los Angeles-based SCPIE Holdings, Inc.[3]

In October 2010, the company completed a $386 million purchase of American Physicians Capital, Inc.[4]

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.[5]

On June 17, 2014, The Doctors Company acquired Medical Advantage Group, a provider of healthcare, electronic health record (EHR), and telehealth consulting services. [6]

On August 8, 2016, The Doctors Company created an excess and surplus lines subsidiary, TDC Specialty Underwriters, to facilitate expansion of its product and service offerings to a broader and changing array of healthcare industry insurance buyers. [7]

On July 31, 2019, The Doctors Company completed the purchase of Hospitals Insurance Company and FOJP Service Corporation. The transaction created Healthcare Risk Advisors, a new service unit that provides third-party insurance and risk management advisory services. [8]

Collectively, The Doctors Company, Medical Advantage Group, TDC Specialty Underwriters, and Healthcare Risk Advisors form the TDC Group of companies (TDC Group). [9]

In April 2020, The Doctors Company has confirmed Marco Spadacenta's appointment as senior vice president of claims. In his current position, Spadacenta manages the litigation process of the admitted medical professional liability unit (MPL) nationwide, reporting directly to Robert White, MPL's executive vice president. Until recently, Spadacenta worked as the senior vice president of AIG's Department of Health Care Malpractice Litigation, handling malpractice cases throughout the US.[10]

Tribute Plan[edit]

In 2007, The Doctors Company launched a retirement benefit for members called the Tribute Plan. The plan’s purpose is to reward members for loyalty to the company and for providing outstanding patient care. The company sets aside funds for eligible members, and those members receive a financial award when they meet plan criteria upon retirement from the practice of medicine.[11][12][13]

References[edit]

  1. ^ "2019 Financial Facts" (PDF). The Doctors Company. June 2020. Retrieved October 26, 2020. CS1 maint: discouraged parameter (link)
  2. ^ "Leadership". The Doctors Company. June 2020. Retrieved October 26, 2020. CS1 maint: discouraged parameter (link)
  3. ^ Chris Rauber (September 14, 2008). "Merger lets Doctors cut malpractice-insurance rates". San Francisco Business Times. Retrieved September 17, 2011. CS1 maint: discouraged parameter (link)
  4. ^ "Doctors Co. buys American Physicians Capital for $386M". San Francisco Business Times. October 25, 2010. Retrieved September 17, 2011. CS1 maint: discouraged parameter (link)
  5. ^ "The Doctors Co. Completes Acquisition of FPIC". Insurance Journal. October 20, 2011. Retrieved October 26, 2011. CS1 maint: discouraged parameter (link)
  6. ^ "The Doctors Company Acquires Medical Advantage Group". Business Wire. June 17, 2014. Retrieved October 26, 2020. CS1 maint: discouraged parameter (link)
  7. ^ "Professional Liability Coverages for Healthcare Entities Focus of New Subsidiary of The Doctors Company". Yahoo Finance. August 8, 2016. Retrieved October 26, 2020. CS1 maint: discouraged parameter (link)
  8. ^ "The Doctors Company Completes New York Acquisition". Business Insider. July 31, 2019. Retrieved October 26, 2020. CS1 maint: discouraged parameter (link)
  9. ^ "TDC Group". Retrieved October 26, 2020. CS1 maint: discouraged parameter (link)
  10. ^ "Biz buzz: The Doctors Company hires claims executive Spadacenta". Napa Valley Register. 30 April 2020. Retrieved 1 May 2020.
  11. ^ Chris Rauber (May 6, 2007). "Medical Malpractice Insurer to Fund Retirement Package". San Francisco Business Times. Retrieved September 17, 2011. CS1 maint: discouraged parameter (link)
  12. ^ Tribute Plan Summary, The Doctors Company
  13. ^ "פורום רשלנות רפואית". Saturday, 19 December 2020

External links[edit]