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The Doctors Company Enters Into Agreement With OHIC Insurance Company

Posted on: Thursday, 5 October 2006, 09:00 CDT

NAPA, Calif., Oct. 5 /PRNewswire/ -- The Doctors Company, the nation's leading physician-owned medical malpractice insurance provider, today announced that it has entered into an agreement to acquire OHIC Insurance Company (OHIC), a leading medical liability carrier in Ohio.

"We are pleased to announce this agreement which will combine 2,000 Ohio physician-insureds, 23 community hospitals and many other health care facilities with The Doctors Company's substantial Ohio physician member base to create the only physician-owned, Ohio-based medical-professional liability insurer," said Richard E. Anderson, M.D., F.A.C.P., chairman and CEO of The Doctors Company. "This strategic acquisition enhances The Doctors Company position as a major insurer in Ohio and further solidifies the company as the nation's leading physician-owned medical liability carrier."

"We look forward to a close relationship with the Ohio health care community," continued Dr. Anderson. "Ohio insureds will continue to receive the same personal attention that OHIC has provided for many years combined with the national reputation, financial strength and excellent customer service that The Doctors Company Group provides to all of its policyholders."

"OHIC is an ideal strategic fit for The Doctors Company. The dedicated OHIC employees, combined with The Doctors Company's Ohio claims and underwriting professionals, creates the largest professional liability staff exclusively dedicated to Ohio physicians and health care facilities. Together we will bring a unique combination of local leadership, aggressive defense of claims, an unequalled patient safety program, a strong commitment to customer service, and considerable financial strength to Ohio's physicians and health care facilities," said Rob Francis, Chief Operating Officer of The Doctors Company.

The Doctors Company will acquire OHIC as a wholly owned subsidiary, further enhancing its capability to offer a variety of physician-centric insurance products and services. OHIC will also continue providing service to hospital and health care facility insureds. The acquisition is subject to approval by industry regulators and is expected to be completed in December 2006. Together, OHIC and The Doctors Company will be among the top companies in market share in Ohio.

The Doctors Company was advised by Cochran Caronia Waller and Thelen Reid & Priest LLP.

About The Doctors Company

Founded by doctors for doctors in 1976 to advance and protect the practice of good medicine, The Doctors Company (http://www.thedoctors.com/) is the nation's leading physician-owned medical malpractice insurance provider. As the first physician-owned company to establish a Patient Safety Department, with an A-rating and $1.9 billion in assets, The Doctors Company enjoys a reputation as the industry vanguard.

About OHIC Insurance Company

OHIC Insurance Company (http://www.ohic.com/) headquartered in Columbus, is one of Ohio's largest medical malpractice insurance companies. OHIC was established in 1978 to address the acute shortage of medical malpractice insurance capacity in Ohio and has honored its commitment for over 28 years.

The Doctors Company

CONTACT: Tricia Hoban, +1-312-260-1491, thoban@peppercom.com, for TheDoctors Company

Web site: http://www.thedoctors.com/http://www.ohic.com/

Source: PRNewswire

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