MIEC Welcomes former Physicians Reimbursement Fund (PRF) Members

Published on:

MIEC Welcomes PRF Header

Effective January 1st, 2021, MIEC welcomed many former members of Physicians Reimbursement Fund (PRF), a Risk Retention Group headquartered in San Francisco, CA.  After several months of coordination, MIEC and PRF agreed on a renewal rights transaction that would give current PRF members the opportunity to transition their Medical Professional Liability coverage to MIEC, with limited underwriting and streamlined transaction process.  Subsequently, PRF would not be issuing renewal coverage effective January 1, 2021.  Overall, this transition proved successful with the majority of former PRF members, largely based in the San Francisco Bay Area, making the transition to MIEC.

“We are enthusiastic about continuing to deploy our mission and support former PRF policyholders moving forward […] PRF and MIEC are very similarly minded organizations, started around the same time, for virtually the same reason…to protect physicians amid the malpractice crisis of the 1970’s.  PRF has provided their members great value throughout the history of their organization, and it was clear that as they wound down their operation, MIEC would be the right fit to continue that for many years to come.”

Andrew Firth, President of MIEC.

PRF will continue to wind down their operation over the next several years, and satisfy any outstanding, and/or future claims obligations that may arise.  MIEC is excited to continue this collaboration and look forward to serving the needs of MIEC members for decades to come.

Please join us in welcoming former PRF members to MIEC!

For more information, please visit: https://www.miec.com/resources/prf-faqs/