Seattle, Wash.-based Physicians Insurance A Mutual Company has acquired Emergency Medicine Professional Assurance Co. (EMPAC) and SCRUBS risk retention group management companies.
Through this acquisition Physicians Insurance now can offer alternative risk financing options to physicians, clinics, hospitals, their respective single/multi-state associations, and other healthcare facilities.
The company currently serves physicians, clinics, and hospitals in Washington, Oregon, and Idaho. This acquisition also strengthens the company’s ability to offer management services to existing risk retention groups and self-insured organizations.
Physicians Insurance is owned and governed by physician policyholders. This acquisition enables the company to extend its ability nationwide to serve physicians, groups, and facilities that want to explore alternative risk financing options, or want new management services for their existing self-insurance programs.
EMPAC is a professional liability insurance company formed in 2003 by emergency medicine physicians seeking a viable, long-term alternative to the traditional insurance market. EMPAC serves as a predominantly single-specialty risk retention group insuring emergency medicine groups, and residency trained, Board Certified professionals.
SCRUBS is a professional liability insurance company formed in 2007 by Urologists.