PPIC Provides Physicians with Another Option for Medical Malpractice Liability Insurance
Premier Physicians Insurance Company (PPIC), a Risk Retention Group, celebrates its one-year anniversary with several achievements in its mission to provide Nevada physicians with stabilized medical malpractice liability insurance. In one year, the company has insured more than 100 physicians.
PPIC has surpassed $2.5 million in capital and approximately $5 million in premium. This success has led the company to begin to expand its reach into other markets including Arizona, California, Texas and Utah.
In a short time, PPIC has attracted several notable physician groups such as Las Vegas Urology, Desert Valley Perinatal, Desert Valley Pediatrics, Orthopedic Specialists of Nevada (OSON) and Nevada Vascular Institute, just to name a few. In addition, the list of individual premier physicians continues to grow with PPIC.
PPIC was created by women’s care specialist Dr. Warren Volker to address Nevada’s medical malpractice liability insurance crisis, which developed in 2001 and 2002 when the majority of Nevada’s medical malpractice carriers discontinued offering medical malpractice liability insurance to physicians. The resulting crisis has left Nevada physicians only a handful of medical malpractice liability carriers offering policies.
Dr. Volker spearheaded the creation of PPIC to introduce a physician-owned, Nevada-based alternative for physicians. As a risk retention group, PPIC is owned by its homogenous members–physicians–for the purpose of addressing a similar liability exposure–medical malpractice liability insurance. PPIC has generated a broad-base of physician stockholders and does not exclude specific specialties from membership.
PPIC is based on a unique model encompassing evidence based medicine, binding arbitration and effective risk management strategies, which result in fewer claims and lower coverage costs. PPIC brings about consistency, continuity, and stability backed by a strict underwriting process.
Dr. Volker views the entrance of another medical malpractice liability carrier as key to making pricing more competitive for physicians and keeping Nevada physicians from leaving the state.
“This truly is a remarkable program,” Dr. Volker said. “I have seen so many accomplished doctors leave the medical field because they could not afford the insurance.”
The headquarters of PPIC are at 575 South Saliman Road, Carson City, Nevada, 89702. Capstone Management Group, LLC, the program manager of PPIC, has representatives in Reno and Las Vegas. Physicians interested in PPIC should call (866) 371-7742. Media contacts should call Paula Yakubik or Desiree Belcher at MassMedia (702) 433-4331.
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