Created in 2006, Physicians Indemnity Risk Retention Group (PIRRG) provides the standard professional liability insurance that all those big name insurance companies provide, but with a personal touch.  PIRRG brings a physician oriented perspective to the Florida medical malpractice arena because it is physician owned, operated, and managed.

By providing professional liability insurance service through its physician controlled membership committee, an adequate capital structure, excellent reinsurance, and controlled general expense, PIRRG has what it takes to cultivate a healthy specialty business.  The company controls expenses through an enhanced cost-effective structure, saving on broker's commission, outsourcing limited functions, and employing innovative ways to generate sales.

Since Monday, August 16th 2010 Physician Indemnity has opened the doors of our new office in Plantation, FL.

Please note that our old telephone number and address in West Palm Beach will be forwarded for several
months to ease the transition process.

Recent changes in management philosophy

Until November 2009, the primary responsibility for operations and marketing management had been outsourced to Risk Management Center (RMC). In 2009, the Board of Directors, after evaluation of RMC operating activities, adopted a revised philosophy resulting in conversion from an MGA (Managing General Agency) model to a Board-directed operational company.

The current focus of the Company is to achieve further growth and development through improved control of operations via in-house services that will ensure cost containment and increased involvement of the Board of Directors.

To accomplish the above goals, PIRRG has hired its own operations and marketing team and developed an improved business plan presented below.

 

The Business Model

This insurance product is part of a complete insurance program and plan that is specifically structured to make medical professional liability coverage available and affordable. The following points are essential:

• Selective quality underwriting process overseen by a committee of renowned practitioners from Florida.


• Diversified risk and exposures by insuring physicians from multiple specialties and geographic locations.


• Help manage risk in the doctor's practice office because mitigating risk and preventing medical claims is a process that must be deliberately managed.


• Require each participating physician to have an ownership interest in the insurance company by making a onetime capital contribution equal to one-third of their premium.


• Use reinsurance to reduce to a manageable level most of the risk inherent in medical malpractice insurance.

Management of the Company

In 2010, the Board of Directors increased its membership from ten to thirteen members.

• Robert Cline, MD serves as PIRRG's Chairperson of the Board of Directors. Dr. Cline is a former President of the Florida Medical Association, a past Vice-Chair of the Florida Board of Medicine, and a founder of PIRRG.


• Kriston Kent, MD was appointed by the prior Governor of the State of Florida to serve as Vice-Chair of the Florida Board of Medicine, is a member of numerous medical professional associations and serves as PIRRG's President of the Board of Directors.


• J. David Holcomb, MD, Vice President, is past President of the Florida Society of Facial Plastic Surgeons and of the Sarasota County Medical Society. Dr. Holcomb currently practices Facial Plastic and Reconstructive Surgery in Sarasota, FL.


• Rajankumar Naik, MD, Treasurer, is the past Chairman for the Department of Medicine Clearwater Community and is currently practicing Geriatric Medicine and Internal Medicine, with over 30 years of experience, in Clearwater, FL.


• In May 2010, Steven Adler was appointed as PIRRG's new Chief Executive Officer. Currently, his company provides TPA services to a wide range of clients, including PIRRG. In a practice spanning nearly 35 years, Mr. Adler has been responsible for the development and management of multiple insurance programs dedicated to healthcare providers and is proficient with Risk Retention Groups. Since his appointment, the CEO has commenced constructing a new, cost-conscious, cost-effective and dedicated administrative team including an office manager, a sales manager, and a financial controller.