Florida Doctors Insurance Co. has completed a merger and acquisition of Physicians Preferred Insurance Co. (PPIC), which Florida Doctors said makes it the fourth largest admitted writer of physicians and surgeons medical professional liability insurance in Florida.
The transaction was 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.
FLDIC is the endorsed carrier of the Hillsborough and Pinellas County Medical Associations, the Employers Community Network, and Flagler Hospital.
PPIC was originally established as an insurance reciprocal in the fall of 2004. It was converted to a stock company on Jan. 1, 2008. PPIC insures approximately 1,500 physicians and surgeons in Florida and is the endorsed carrier of the Florida Osteopathic Medical Association, the Florida Society of General Surgeons, the Central Florida Medical Affiliates, the Pinellas County Osteopathic Medical Society, and the Tampa Bay Provider Group.
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