Ohio physician’s licence granted
–21 February 2008
An Ohio physician-owned start-up health insurer is set to start issuing policies in late spring after receiving go-ahead from the state department of insurance for the licence for Physicians Assurance Corp.
The company has said it is in the process of creating a network, which it expects to be completed by May.
More than 100 investors have put $5.6 million into Physicians Assurance, which applied for its licence in October. Target clients are physician practices with between two and 99 employees.
The application to the Insurance Department predicted that the insurer would lose money its first year and hit profitability after signing up 20,000 covered members.
...................................................................................................................................................................