The Doctors Company Offers Financial Stability to Medical Professionals

The Doctors Company is a medical malpractice insurer that provides financial stability to medical professionals.

With over 70 years of experience, The Doctors Company has established itself as a trusted partner for doctors and surgeons.

The company's financial stability is reflected in its strong financial ratings from A.M. Best, which have been consistently high for decades.

This stability allows The Doctors Company to offer competitive rates and reliable coverage to its policyholders.

The Doctors Company has a strong financial foundation, with over $6 Billion in assets. This provides a solid base for protecting their clients' interests.

Their member surplus is a notable $2.2 Billion, making them the strongest national physician-owned medical liability carrier. This surplus is a key indicator of the company's financial stability.

The Doctors Company's financial statements are transparent, allowing members and non-members to review their last two annual reports on their website. This transparency is essential for building trust with their clients.

The company's policies are written on a claims-made basis, providing coverage based on when the claim is made, rather than when the incident occurs. This approach offers a more predictable and stable financial framework.

Unique features of The Doctors Company include MediGuard, CyberGuard, Tribute Plan, and Free Tail Coverage. These features demonstrate the company's commitment to providing comprehensive coverage and support to their clients.

Here are some key financial facts about The Doctors Company:

The Doctors Company continues to expand its services to better support physicians and healthcare organizations. With a strong focus on medical professional liability insurance, it's no surprise that the company has grown significantly over the years.

As of 2022, The Doctors Company has over 90,000 physician members, a testament to its commitment to providing high-quality insurance solutions. This number is expected to continue growing as the company expands its reach.

The company's expansion efforts have also led to the development of new insurance products and services, including medical liability insurance for healthcare organizations. This move aims to provide a more comprehensive range of options for physicians and healthcare providers.

In addition to its insurance offerings, The Doctors Company has also invested in various educational programs and resources to support physicians and healthcare organizations. These initiatives aim to promote best practices, improve patient care, and reduce medical errors.

The company's commitment to innovation and expansion has earned it a reputation as a leader in the medical professional liability insurance industry. Its focus on providing value to physicians and healthcare organizations has helped it build a loyal following.

The Doctors Company's mission is to advance, protect, and reward the practice of good medicine. This mission is deeply rooted in their values, which prioritize the well-being of patients and the success of their clients.

The company's professional values are motivated by a desire to help others and make a positive impact on the world. They believe that by helping doctors, they can change the world for the better.

As a member-owned exchange, The Doctors Company puts its policyholders at the forefront of everything they do. This means that their focus is exclusively on providing benefits to their members, rather than outside stockholders.

The Doctors Company is truly member-focused and doctor-centered. This is reflected in its unique structure as a member-owned exchange.

The company's Board of Governors is comprised of physicians, healthcare leaders, and distinguished executives, ensuring that the interests of its members are always at the forefront. There are no outside stockholders, allowing the company to prioritize benefits to its policyholders above all else.

The Doctors Company provides robust representation in the event of a claim filed against one of its members. They cover legal expenses in addition to the limits of liability, and only settle a claim with the consent of the physician policyholder.

This consent to settle clause is a crucial aspect of their insurance policies, as it ensures that the company will not compromise a physician's professional reputation to save money. Instead, they work tirelessly to build the best defense for their members, leveraging decades of medical, legal, and claims expertise.

We are motivated by the success of our clients and the well-being of their patients. This motivates us to provide the best possible service.

Our mission is to help doctors, and we believe that helping others helps us change the world for the better. We take pride in our work and strive to make a positive impact.

We work for you to find the best professional liability insurance for your unique needs. This means cutting through the noise and finding the right fit.

We can save you up to 28% on your premiums by partnering with us. This is a significant advantage for doctors looking for affordable insurance options.

The Doctors Company's mission aligns with our professional values. Their mission is to advance, protect, and reward the practice of good medicine.

The Doctors Company has a unique approach to managing risk, which sets them apart from other medical malpractice insurance companies. They focus on preventing medical errors and promoting patient safety.

One way they do this is by partnering with other organizations, such as the National Patient Safety Foundation. They also work with medical schools and residency programs to provide education and training on patient safety.

By taking a proactive approach to risk management, The Doctors Company helps its policyholders reduce the risk of medical errors and improve patient outcomes.

The Tribute Plan is a great example of how companies can show appreciation for their loyal employees. The Doctors Company launched this plan in 2007 to reward members for their loyalty and outstanding patient care.

The plan's purpose is to provide a financial award to eligible members upon retirement from medicine. This is a wonderful way to incentivize doctors to continue providing exceptional care.

Eligible members receive a financial award when they meet plan criteria upon retirement. This is a tangible way for companies to express their gratitude to long-serving employees.

The company sets aside funds for eligible members, making this plan a thoughtful gesture.

The Doctors Company and its subsidiaries have received a clean bill of health from A.M. Best, affirming their financial strength ratings.

A.M. Best has affirmed the financial strength rating of “A (Excellent)” and the long-term issuer credit rating of “a” of The Doctors Company, its wholly-owned subsidiary TDC Speciality Insurance Company, and TDC National Assurance Company.

Strong balance sheets, long-term operating performance, and the exchange’s market position within the US medical professional liability (MPL) sector have contributed to this positive assessment.

Positive earnings, successful acquisitions, and strong patient safety and risk management programmes have also been cited as factors in the rating affirmations.

TDC Specialty’s ratings benefit from the implicit and explicit support from the exchange, which includes “significant” inter-company reinsurance.

However, the companies still face challenges such as competitive soft market pricing, a declining physician market base, and modestly increasing claims severity.