PPIC (A Coverys Company)
PPIC Mission and History
PPIC's mission is to offer relevant, affordable products and services valued by their insureds.
PPIC's vision is to protect the healthcare community by being a leading provider of medical professional liability insurance services in the country.
In 1987, a group of Catholic healthcare systems united to provide their associated physicians with access to qualitymedical malpractice insurance. The organization they created, Preferred Physicians Insurance Company (PPIC), had two goals: to be a permanent and financially stable source of professional liability insurance for physicians and a constant resource for education, risk management, and consultative services.
As PPIC entered its second decade, the company strengthened its link between coverage and caring by amalgamating with Consolidated Catholic Casualty Risk Retention Group (CCCRRG). Their combined resources enabled PPIC to expand its operations to better serve Catholic healthcare systems and their associated healthcare providers. To reflect this change and the scope of its available products and services, PPIC changed its name to Preferred Professional Insurance Company.
In 2000, PPIC welcomed the Catholic Mutual Relief Society of America (Catholic Mutual Group) as a shareholder and partner for expanded casualty insurance products for Catholic-sponsored entities. Since 2001, PPIC has added seven Catholic healthcare owner systems: Bon Secours Health System, Inc.; Daughters of Charity Health System; Sisters of Charity of Leavenworth Health System; Wheaton Franciscan Services, Inc.; Carmelite System for the Aged and Infirm, Inc; Provena Health; and Providence Health & Services.
On August 1, 2014, PPIC became a subsidiary of Medical Professional Mutual Insurance Company (ProMutual), a Coverys® company. Combined with PPIC, Coverys is the sixth largest medical professional liability provider in the country based on direct written premium.
PPIC is rated A- (excellent) by A.M. Best. This rating is assigned to companies that have, in the opinion of A.M. Best, an excellent ability to meet their ongoing obligations to policyholders.
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