American Physicians Capital Notes Departure of Subsidiary Exec.

Michigan-based American Physicians Capital, Inc. announced that Raymond Jacobsen, CEO of the company’s workers’ compensation business unit, has submitted his resignation effective immediately. APCapital’s president and CEO, William Cheeseman will oversee the workers’ compensation business unit until management selects a successor.

“We remain committed to our two core lines of business, medical professional liability and workers’ compensation,” Cheeseman said. “With the favorable market conditions in the medical professional liability sector, we will continue to grow this line aggressively in targeted markets. We will maintain our profitable workers’ compensation book and grow this line of business at a moderate rate until market conditions change.”

American Physicians Capital, Inc. is a national provider of medical professional liability coverage and workers’ compensation, through American Physicians Assurance Corporation and its other subsidiaries. The group of companies is rated A- (Excellent) by A. M. Best and A- by Standard & Poor’s.