Company FAQs
Click the questions below for answers to our frequently asked quesions.
What kind of carrier are you?
Florida Doctors Insurance Company is a stock insurance company. We are not publicly traded; rather, our stock is privately-held by a group of Florida residents who care about Florida healthcare and the future it holds. Therefore, our results are not managed to meet the expectations of Wall Street analysts or other outside parties. A majority of our investors are physicians.
Could your policyholders be assessed?
No. Policyholders do not have any personal liability for losses incurred by our past claims.
How long have you been in business?
We received our certificate of authority on November 3, 2005 and began accepting applications for medical professional liability insurance immediately.
Who is your management team?
Members of our management team have worked in all facets of the insurance industry - insurance agencies, insurance companies and regulatory bodies. Our management team has extensive experience in the Florida medical malpractice industry. Click here for management team profile.
Are you endorsed or sponsored by any medical associations?
FLDIC is the endorsed carrier for multiple societies and associations. In addition, the members of our management team have long-standing relationships with the leadership of many other specialty and county and state associations. FLDIC supports the goals of organized medicine in Florida.
Are you rated?
Florida Doctors Insurance Company has not yet received a rating from A.M. Best. We do currently have a Financial Stability Rating® of A, Exceptional, from Demotech, Inc.
How sound is your asset base and surplus?
As of December 31, 2010, Florida Doctors Insurance Company has over $17 million in surplus and over $90 million in assets heavily protected by reinsurance. No capital contributions are required to become a policyholder of the company.
Do you have reinsurance?
Yes. We have purchased traditional reinsurance coverage from reinsurers who specialize in medical professional liability and are rated “A-” or better by A. M. Best.
Will I have easy access to your management team?
Your independent insurance agent should always be your first point of contact for any issue pertaining to your professional liability coverage. However, you may contact any member of our management team at any time.
In the event my application is declined or my coverage is non-renewed, will I have the right to appeal?
You have the right to appeal either type of decision. The company has an underwriting committee composed of members of our Board of Directors. If you decide to file an appeal, you will be invited to personally address the committee at a location, time and place decided by the committee. The decision of the committee will be final and binding.
Can I buy coverage directly from Florida Doctors Insurance Company?
No. All of our policies are distributed through independent insurance agents located throughout the State of Florida. These agents understand your business and the coverages you need. They will act as your advocate in the placement of your coverage as well as being able to offer valuable advice based on their knowledge and experience. If you do not currently have an insurance agent representative, please contact our Marketing Department and we will provide you with a referral.
