PLICOPhysician Liability Insurance Company
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Additionally, PLICO's RBC ratio benefits from its extensive use of captive reinsurance arrangements.
US-based MedPro Group (MedPro), a subsidiary of Berkshire Hathaway has closed its acquisition of US-based healthcare liability insurer Plico, Inc.
Based in Oklahoma City, Plico serves approximately 2200 healthcare providers in Oklahoma; it has annualised gross written premiums of about USD 30m and had statutory surplus of over USD 60m at year-end 2014.
"Plico brand refractory materials will allow Plibrico to better serve customers abroad," said James Eckert, president of Plibrico Company.
"It was an IBM green screen, and it was a nice system, but it was just pieced together," says Becky Meares, vice president of IT for PLICO. "The policy side was built out with accounting [systems] and didn't think about tying it to claims.
PLICO had hopes of tying the claims and policy systems together, so when a claim was entered, it could be attached to the policy to ensure coverage--something the carrier had grown accustomed to doing manually.
(PLICO) has taken its policy a step further by excluding from its malpractice coverage all VBAC procedures except in the case of an emergency.
The decision was based on various factors, said PLICO President and CEO Carl Hook, M.D., including ACOG's practice bulletin on VBAC, which was issued in 1999 and revised last year, and statistics showing an increased risk of uterine rupture when uterine muscle contraction agents are given during VBAC to assist labor.
PLICO at the Flatiron, Elliott's award-winning adaptive reuse project that created office space for PLICO from a 1924 flatiron building that was originally the Como Hotel, serves as the perfect example of this philosophy.
M2 EQUITYBITES-July 8, 2015-Berkshire Hathaway's MedPro to Buy Medical Liability Insurer Plico
15, 2016, Protective Life Insurance Company (PLICO), a wholly owned subsidiary of PL, acquired via reinsurance certain in-force blocks of term life insurance from Genworth Life and Annuity Insurance Co.