The Doctors Company and UMIA Terminate Acquisition

The Doctors Company, a national medical malpractice insurer, announced that its agreement on October 29, 2012, to acquire Utah Medical Insurance Association (UMIA) has been terminated.

“While I am disappointed that UMIA will not be joining The Doctors Company, the board of UMIA has chosen to move forward with an alternate arrangement that I do not believe is in the best interests of our members or UMIA policyholders, and we have chosen not to pursue it. We wish them luck in the future,” said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company.

He added: “We remain committed to our mission to advance, protect, and reward the practice of good medicine and, in that regard, we will continue to invite physicians from Idaho, Utah, Wyoming, and Montana to join our 73,000 members, where they will receive The Doctors Company’s aggressive claims defense, unmatched legislative and patient safety advocacy, outstanding service, and industry-leading benefits, including our Tribute Plan.”

Source: The Doctors Company