Doctors form insurance firm
NEWS IN BRIEF — Posted Sept. 13, 2004
Physicians in Dayton, Ohio, and Cincinnati this summer formed a new risk-retention group to provide medical liability insurance to physicians in Ohio, Kentucky and Indiana. TriState Medical Insurance Co. is one of a growing number of physician-owned insurance companies to start up in recent years, sparked by rising liability insurance rates and the number of traditional insurers leaving markets or tightening underwriting practices so many physicians have trouble obtaining insurance.
"As physicians, we need to take control of our professional liability insurance destiny rather than rely upon public companies whose primary concern is protecting investor interest," said Robert Smith, MD, TriMed's chair and president.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/09/13/prbf0913.htm.