Our History
We stake our reputation on protecting our Members.
Physicians Insurance was founded in 1981 on the idea of protecting, defending, and supporting our Members—all backed by excellent, personalized service. There are other malpractice carriers, but we raise the bar. Being a mutual company ensures that everyone involved shares a common mission to put the interests of our Members first.
It’s this single-minded mission that sets us apart, and that drives our culture of superlative service in support of the full range of medical malpractice coverages, stop-loss solutions, and other insurance products that we provide.
It’s one thing to offer insurance, and quite another to see it through. In every communication, every expert opinion, every risk assessment or claim, all our Members experience the impact of our mission. With over 8,500 Members and growing, this experience is in evidence all over the nation.
Especially in the most trying times, you want a partner who not only listens, but understands and acts in your best interest. Who not only acts on your behalf, but who gets results for your practice, your healthcare organization, your business... your life’s work.
That’s Physicians Insurance.
Our Financials
In January 1982, the Washington State Medical Association (WSMA) -- known then as Washington State Physicians Insurance Exchange -- teamed up with individual physicians who wrote personal checks and together they provided $2.4 million in loans to start the company. Since then, Physicians Insurance has provided more than 40 years of financial strength and support for our Members. We hold an A-(Excellent) rating by AM Best*. Our policyholder surplus is at $276 million and in 2023 we generated more than $172 million in premium.
As a mutual company that is owned and directed by our Member owners, we are grateful for the opportunity to focus our resources towards protecting, supporting, and defending our Members in the delivery of care.
Learn more about our financial strength:
* A.M. Best’s ratings are on a scale from A++ (superior) down to D (poor), with even lower ratings for companies under regulatory supervision or in liquidation.
Government Relations
Physicians Insurance Participates
Advocacy is crucial to ensuring that the concerns of our members and their patients are heard by lawmakers at both the state and national level. That's why the Government Relations program at Physicians Insurance works in close cooperation with many other organizations that pursue similar goals, and our staff have become trusted and valued sources of information and ideas for legislators, regulators, and others concerned about our issues.
As a result, we are frequently asked to serve on task forces to develop new laws and regulations and to serve on the boards of local and national organizations and coalitions. For instance, our in-house lobbyist Anne Bryant serves as the Chair of the Government Relations Committee for the Medical Professional Liability Association (MPL Association). We are established as a leading advocate for laws that impact health care liability, insurance, and patient safety. In addition, we work to promote civil justice issues from a defense perspective.
As we keep abreast of issues facing our region, our strong advocacy continues nationally and in states in which we provide coverage. We focus on work such as supporting Crisis Standard of Care, the Good Samaritan Health Professionals Act, COVID-19 liability and telemedicine liability protections. We also work to defeat proposals that increase the cap on non-economic damages recoverable in person injury and wrongful death actions in states that have damage caps in effect. In addition, we work closely with state hospital and medical associations and specialty societies in Alaska, California, Idaho, Oregon, and Washington.
We also recognize the importance of bipartisan support of candidates open to reasonable laws in our areas of emphasis: health care liability reform, insurance, and patient safety. We support efforts to recruit concerned, legislative and judicial candidates who have a balanced and fair approach and who are able and willing to look at all sides of these issues.
Board Of Directors
Physicians Insurance A Mutual Company Board of Directors
Physicians Insurance is a mutual insurance company governed by a board of directors elected by the policyholders. Physician representation on the Board is guaranteed by the bylaws, and the company benefits from the expertise of several non-physician directors. Below are the names of the current Board members.
- Shane Macaulay, MD, Board Chair (Diagnostic Radiology: Bellevue, WA)
- David Carlson, DO (Family Medicine: Tacoma, WA)
- Franklin Cordell, JD (Attorney: Seattle, WA)
- William Cotter, President & CEO (Physicians Insurance: Seattle WA)
- Joseph Deng, MD (Anesthesiology: Portland, OR)
- David Dohnalek (Retired Aerospace Executive, Boeing: Lake Forest, IL)
- Jordana Gaumond, MD (General Surgery: Portland, OR)
- Jennifer Hanscom, CEO (WA State Medical Association: Seattle, WA)
- Ursula Luckert, Clinic CEO (Portland, OR
- John Pasqualetto, President, Chairman, and CEO (Seabright Holdings: Seattle, WA)
- Eric Stoler, MD (Anesthesiology: Vancouver, WA)
Our History
We stake our reputation on protecting our Members.
Physicians Insurance was founded in 1981 on the idea of protecting, defending, and supporting our Members—all backed by excellent, personalized service. There are other malpractice carriers, but we raise the bar. Being a mutual company ensures that everyone involved shares a common mission to put the interests of our Members first.
It’s this single-minded mission that sets us apart, and that drives our culture of superlative service in support of the full range of medical malpractice coverages, stop-loss solutions, and other insurance products that we provide.
It’s one thing to offer insurance, and quite another to see it through. In every communication, every expert opinion, every risk assessment or claim, all our Members experience the impact of our mission. With over 8,500 Members and growing, this experience is in evidence all over the nation.
Especially in the most trying times, you want a partner who not only listens, but understands and acts in your best interest. Who not only acts on your behalf, but who gets results for your practice, your healthcare organization, your business... your life’s work.
That’s Physicians Insurance.
Our Financials
In January 1982, the Washington State Medical Association (WSMA) -- known then as Washington State Physicians Insurance Exchange -- teamed up with individual physicians who wrote personal checks and together they provided $2.4 million in loans to start the company. Since then, Physicians Insurance has provided more than 40 years of financial strength and support for our Members. We hold an A-(Excellent) rating by AM Best*. Our policyholder surplus is at $276 million and in 2023 we generated more than $172 million in premium.
As a mutual company that is owned and directed by our Member owners, we are grateful for the opportunity to focus our resources towards protecting, supporting, and defending our Members in the delivery of care.
Learn more about our financial strength:
* A.M. Best’s ratings are on a scale from A++ (superior) down to D (poor), with even lower ratings for companies under regulatory supervision or in liquidation.
Government Relations
Physicians Insurance Participates
Advocacy is crucial to ensuring that the concerns of our members and their patients are heard by lawmakers at both the state and national level. That's why the Government Relations program at Physicians Insurance works in close cooperation with many other organizations that pursue similar goals, and our staff have become trusted and valued sources of information and ideas for legislators, regulators, and others concerned about our issues.
As a result, we are frequently asked to serve on task forces to develop new laws and regulations and to serve on the boards of local and national organizations and coalitions. For instance, our in-house lobbyist Anne Bryant serves as the Chair of the Government Relations Committee for the Medical Professional Liability Association (MPL Association). We are established as a leading advocate for laws that impact health care liability, insurance, and patient safety. In addition, we work to promote civil justice issues from a defense perspective.
As we keep abreast of issues facing our region, our strong advocacy continues nationally and in states in which we provide coverage. We focus on work such as supporting Crisis Standard of Care, the Good Samaritan Health Professionals Act, COVID-19 liability and telemedicine liability protections. We also work to defeat proposals that increase the cap on non-economic damages recoverable in person injury and wrongful death actions in states that have damage caps in effect. In addition, we work closely with state hospital and medical associations and specialty societies in Alaska, California, Idaho, Oregon, and Washington.
We also recognize the importance of bipartisan support of candidates open to reasonable laws in our areas of emphasis: health care liability reform, insurance, and patient safety. We support efforts to recruit concerned, legislative and judicial candidates who have a balanced and fair approach and who are able and willing to look at all sides of these issues.
Board Of Directors
Physicians Insurance A Mutual Company Board of Directors
Physicians Insurance is a mutual insurance company governed by a board of directors elected by the policyholders. Physician representation on the Board is guaranteed by the bylaws, and the company benefits from the expertise of several non-physician directors. Below are the names of the current Board members.
- Shane Macaulay, MD, Board Chair (Diagnostic Radiology: Bellevue, WA)
- David Carlson, DO (Family Medicine: Tacoma, WA)
- Franklin Cordell, JD (Attorney: Seattle, WA)
- William Cotter, President & CEO (Physicians Insurance: Seattle WA)
- Joseph Deng, MD (Anesthesiology: Portland, OR)
- David Dohnalek (Retired Aerospace Executive, Boeing: Lake Forest, IL)
- Jordana Gaumond, MD (General Surgery: Portland, OR)
- Jennifer Hanscom, CEO (WA State Medical Association: Seattle, WA)
- Ursula Luckert, Clinic CEO (Portland, OR
- John Pasqualetto, President, Chairman, and CEO (Seabright Holdings: Seattle, WA)
- Eric Stoler, MD (Anesthesiology: Vancouver, WA)
OUR FINANCIALS
In January 1982, the Washington State Medical Association (WSMA) -- known then as Washington State Physicians Insurance Exchange -- teamed up with individual physicians who wrote personal checks and together they provided $2.4 million in loans to start the company. Since then, Physicians Insurance has provided more than 40 years of financial strength and support for our Members. We hold an A-(Excellent) rating by AM Best*. Our policyholder surplus is at $276 million and in 2023 we generated more than $172 million in premium.
As a mutual company that is owned and directed by our Member owners, we are grateful for the opportunity to focus our resources towards protecting, supporting, and defending our Members in the delivery of care.