Dec 31 2009
Florida Doctors Insurance Company (FLDIC) announced today it has
successfully completed a merger and acquisition of Physicians Preferred
Insurance Company (PPIC), making FLDIC the fourth largest admitted
writer of physicians and surgeons medical professional liability
insurance in Florida.
“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.”
The transaction was overwhelmingly approved by the shareholders of PPIC
and has received the approval of the Florida Office of Insurance
Regulation.
In a related transaction, FLDIC also acquired Physicians Preferred
Insurance Management, LLC, which served as the Managing General Agency
for PPIC.
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.” Mr. Russell also stated
that, “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.”
http://www.fldic.com/