SOURCE: The Doctors Company

 

NAPA, CA--(Marketwire - January 7, 2009) - To improve member benefits, policyholders of Northwest Physicians Insurance Company (NPIC) will become eligible to participate in the Tribute Plan upon renewal of their policy with parent The Doctors Company in 2009.

"Only The Doctors Company honors a doctor's lifetime of service with a monetary career reward. The Tribute Plan is a key element in the company's mission to advance, protect, and reward the practice of good medicine because it is tangible evidence of the value of membership in a physician-owned company," said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company.

The Tribute Plan is the industry's only financial benefit program that rewards member physicians for their loyalty and commitment to superior patient care. Tribute utilizes a loyalty pool to reward members, from which a portion of the balance is allocated to each physician annually based on his or her premium. Members receive their Tribute Plan award in a lump sum payment when they retire permanently at age 55 or older with five years of continuous coverage(1) by The Doctors Company. All Oregon and Idaho physicians that choose The Doctors Company for their medical liability coverage will be eligible for the Tribute Plan.

The Tribute Plan is in addition to many other tangible benefits of membership in The Doctors Company, including the potential for multiyear dividend distributions, innovative patient safety programs, and a wide array of tools, support, and services to make practicing medicine easier and more rewarding for members. Policyholders will also experience enhancements to their coverage, including expanded locum tenens coverage, IRB clinical trial coverage, and consent-to-settle provisions.

"We are excited to be able to offer the Tribute Plan as this is yet another unique and innovative benefit for Northwest Physicians' members that none of our competitors can match," said James T. Dorigan, Jr., senior vice president, Northwest Region, The Doctors Company.

About Northwest Physicians Insurance Company

Northwest Physicians Mutual Insurance Company (NPM) was founded by Oregon physicians in 1983. The Doctors Company acquired NPM in 2005 to become the dominant physician-owned medical liability insurer in Oregon. A new entity, Northwest Physicians Insurance Company, was formed in 2006, assuming all NPM policies, assets, and liabilities. Today, NPIC is a wholly owned subsidiary of The Doctors Company.

About The Doctors Company

Founded by doctors for doctors in 1976, The Doctors Company (www.thedoctors.com) is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company is the largest national insurer of physician and surgeon medical liability with 44,000 member physicians, $3 billion in assets, an A rating by Fitch Ratings, and an A- rating by A.M. Best Company.

(1) Members who were insured by Northwest Physicians Insurance Company prior to the conversion to The Doctors Company will have their years of continuous coverage with NPIC after December 31, 2005, credited toward the Tribute Plan continuous coverage requirements.