Combination to strengthen its ability to deliver medical professional liability insurance to FLDIC
Florida Doctors Insurance Company (FLDIC) said that it has completed a merger and acquisition of Physicians Preferred Insurance Company (PPIC). The transaction was approved by the shareholders of PPIC and Florida Office of Insurance Regulation.
In a related transaction, FLDIC also acquired Physicians Preferred Insurance Management (PPIM), which served as the managing general agency for PPIC.
FLDIC claims that with this transaction the company become the fourth largest admitted writer of physicians and surgeons medical professional liability insurance in Florida. It is the endorsed carrier of the Hillsborough and Pinellas County Medical Associations, the Employers Community Network and Flagler Hospital.
Mr William Russell, CEO of FLDIC, said: “The combination of PPIC and Florida Doctors Insurance Company strengthens our ability to deliver the most comprehensive and affordable medical professional liability insurance to Florida Doctors Insurance Company.
“PPIC policyholders will continue to receive the excellent service they have been accustomed to while still being insured with a Demotech A, Exceptional rated Insurance Company.”