Our Story
In the United States, physicians face ever increasing professional liability risk due in great part to an increasingly litigious society. The primary cost of this increased risk manifests itself in higher and higher medical professional liability insurance premiums. Physicians in some medical specialties and in some parts of the country are abandoning their practices altogether because the cost of insurance has become prohibitive.
A small group of dedicated physicians decided to do something to reverse the trend. The result is Physicians Choice Insurance Group, Inc., (PCIG), an insurance company owned by participating medical professionals. PCIG is a specialty underwriter. It is structured to insure physicians who demonstrate exceptional skill and dedication in their area of specialization. PCIG believes that strict adherence to conservative underwriting standards combined with participating physicians’ ability to monitor and approve practices and procedures as well as new insured doctors will result in benefits to its participating physicians.
Physicians Choice Insurance Group, Inc. or (PCIG or Captive) is to be owned by participating doctors for the purpose of self-insuring a portion of their professional medical liability exposure.Participation in a group captive structure allows selected doctors with an opportunity to take control of their medical professional liability insurance costs and to participate over the long term in cumulative underwriting and investment income that would otherwise be lost to commercial insurance carriers.
As owners of PCIG, doctors are entitled to these benefits as a reward for long term participation:
- Improved predictability in the cost of procuring professional liability insurance
- Participating in underwriting profits that commercial insurers demand for their shareholders
- Accumulation of wealth through a tax-favored insurance facility
- SAGE Scholars tuition rewards
Physicians Choice Insurance Group (PCIG) intends to make a lasting impression on the medical community by providing a highly focused approach to medical liability insurance and risk management.
, PCIG offers a concierge focus on specialty practices. This affords the company the luxury of being true experts at risk management, arming clients with essential education and information to protect their practices while mitigating risk and reducing rates.
This distinct concentration on affordable coverage coupled with an acute awareness of client needs has enabled PCIG to design an intelligent business model that rewards its members with rate stability, claim predictability and ongoing peace of mind.
