The Doctors Company and Utah Medical Insurance Association Terminate Acquisition

NAPA, Calif.--()--The Doctors Company announced today that its agreement on October 29, 2012, to acquire Utah Medical Insurance Association (UMIA) has been terminated.

“While I am disappointed that UMIA will not be joining The Doctors Company, the board of UMIA has chosen to move forward with an alternate arrangement that I do not believe is in the best interests of our members or UMIA policyholders, and we have chosen not to pursue it. We wish them luck in the future,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company.

He added: “We remain committed to our mission to advance, protect, and reward the practice of good medicine and, in that regard, we will continue to invite physicians from Idaho, Utah, Wyoming, and Montana to join our 73,000 members, where they will receive The Doctors Company’s aggressive claims defense, unmatched legislative and patient safety advocacy, outstanding service, and industry-leading benefits, including our Tribute® Plan.”

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 nation’s largest medical malpractice insurer, with 73,000 members and $4 billion in assets, and is rated A by A.M. Best Company and Fitch Ratings.

Follow The Doctors Company on Twitter at @doctorscompany for industry trends, subscribe to its YouTube site to hear from industry experts, connect with The Doctors Company on LinkedIn to engage with company leaders, and find information on its key milestones and achievements on Facebook.

Contacts

The Doctors Company
Denise Moore, 707-226-1402
demoore@thedoctors.com

Release Summary

The Doctors Company announced today that its agreement on October 29, 2012, to acquire Utah Medical Insurance Association (UMIA) has been terminated.

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Contacts

The Doctors Company
Denise Moore, 707-226-1402
demoore@thedoctors.com