Economic Research: Ppic Insurance

Tuesday, 4 December 2012

Ppic Insurance

Preferred Professional Insurance Company (PPIC) is filing a rule revision for the rate relativity for employed physicians. Based on PPIC’s countrywide experience, PPIC plans to introduce an employed physician relativity of 85%. Included with this filing is an exhibit containing PPIC experience for this category of physicians. Historically, 34.5% of PPIC’s premium would have been eligible for this benefit which produces an estimated rate impact of this change of -5.2% countrywide. We currently have no District of Columbia insureds nor have we written any in the past. However, PPIC is filing this change to be in place for any future insureds we may obtain in the District of Columbia and to have our manual current in all locations in which we are licensed. We are submitting revised Page 7 of Appendix A to the PPIC Rate and Rule Manual for review. The change on this page is under Item E., Business Type Adjustment Factors. The adjustment factor for employed physicians is amended from 1.00 to .85, and the edition date of the page has changed from (March 13, 2003) to (1-1-2008). A highlighted side-by-side comparison has been included in the supporting documentation section of this filing. PPIC is requesting an effective date of February 1, 2008, for this rule revision.