PHYSICIANS INSURANCE RESPONDS TO WASH. COMMISSIONER’S ORDER:

Seattle-based Physicians Insurance A Mutual Company, an insurer that provides coverage to physicians and other health care providers, acknowledged the regulatory actions taken by Washington’s Office of the Insurance Commissioner and expressed its commitment to improving its compliance with Washington state insurance laws. “We strive to be as accurate as humanly possible,” said Mary-Lou Misrahy, president and CEO of Physicians Insurance. “We appreciate the Office of the Insurance Commissioner’s efforts to work with us and are committed to putting the recommended procedures in place to make sure we achieve 100 percent adherence to the filing requirements. Our internal review showed our pricing to be very competitive. And it should also be noted that the rate filing inaccuracies represent less than 2 percent of all the premiums charged to those insured by the company. At the end of the day we have always charged no more and no less than what our underwriting called for and what the company needs on hand to maintain its strength in the professional liability insurance marketplace,” Misrahy said.