Who We Are

Physicians Insurance was founded in 1981 under the auspices of the Washington State Medical Association. Physicians believed then, as they do now, that they would get better service and outcomes from a company that they owned, rather than from a giant, national firm with no local presence.

Since then, other insurance carriers have entered and left the market, but Physicians Insurance has remained the stable, committed, and local insurer for physicians, clinics, facilities, and hospitals. In the intervening years, the company has experienced steady growth and has built a strong financial base by providing broad policy coverage, related claims and risk management expertise, and exceptional customer service all at competitive rates.

Today, Physicians Insurance serves more than 8,500 members Alaska, Idaho, Oregon, and Washington, and provides risk-management consulting, continuing medical education, and claims administration services. The company has grown to be the largest insurer of physicians in Washington State, the largest insurer of rural, critical access hospitals in Oregon and Washington, and is rated A- (Excellent) by A.M. Best Company*.

Our Purpose
As a trusted partner, we provide solutions to physicians, groups, and facilities to manage risk, and improve healthcare quality and patient safety.

Our Core Values
We are committed to creating an environment that embodies the following values:

  • Protective: Guard against loss or harm, employ sound financial practices, and steward resources to benefit of members.
  • Principled: Be honest, trustworthy, and accountable in business and personal interactions.
  • Service Oriented: Know our customers well enough to anticipate their needs and provide support.
  • Collaborative: Work in partnership with each other and our members.
  • Forward-Thinking: Lead through continuous improvement and a drive to improve member and organizational value.

*A.M. Best’s ratings are on a scale from A++ (superior) down to D (poor), with even lower ratings for companies under regulatory supervision or in liquidation.

Physicians Insurance A Mutual Company Board of Directors
Physicians Insurance is a mutual insurance company governed by a board of directors elected by the policyholders. Physician representation on the Board is guaranteed by the bylaws, and the company benefits from the expertise of several nonphysician directors. Below are the names of the current Board members.

David Carlson, DO, Board Chair
Family Medicine

Bill Cotter
President and CEO
Physicians Insurance A Mutual Company

Lloyd David
Clinic Administrator

Joseph Deng, MD

Jordana Gaumond, MD
General Surgery

Gary Goin, MD
Family Medicine

Jennifer Hanscom
Executive Director and CEO
Washington State Medical Association

Skip Li, JD

Shane Macaulay, MD
Diagnostic Radiology

John Pasqualetto
President, Chairman, and CEO,
Seabright Holdings (retired)

Walter Skowronski
President, Boeing Capital Corporation (retired)

Financial Stewardship and Performance
Through the years, Physicians Insurance has been vigilant about maintaining careful financial monitoring, conservative investment strategies, and stable rates for physicians and clinics. Since 2008, the company has also maintained its A- (Excellent) rating from A.M. Best.*

As a reflection of our policyholders’ commitment to patient care, combined with our unwavering commitment to members, base rates for 2020 have remained unchanged from prior years.

In fact:

  • In Washington, there has been no base rate increase for 16 consecutive years. Since 2004, not only have we held rates flat, but we’ve also lowered them twice.
  • In Oregon, there has been no base rate increase for 16 consecutive years. One Oregon insurer increased their rates by nearly 13% for 2014. Not us – we’ve held rates flat since 2006 and even lowered them in 2012.
  • In Idaho, there has been no base rate increase for 13 consecutive years. Since 2008, not only have we held rates flat, but we’ve also lowered them twice.

For 2020, Physicians Insurance was also pleased to return another $5 million dividend to policyholders. The company has returned $65 million in dividends to members over the past 13 years, and more than $105 million in total. Unlike many public insurance companies, Physicians Insurance pays dividends to policyholders and not out-of-state shareholders, effectively keeping funds in the home communities of the members.

Our financial stability, A- (Excellent) rating from A.M. Best, and strong financial controls make it possible to keep your premiums affordable and budget-stable.

And, if truth be told, the rate reductions and dividends are a sign that our mission is true, and our members find our local presence, fervent advocacy, and innovative approach to be of great value.


2020 Dividend FAQ

2020 Audited Financial Statement

*A.M. Best’s ratings are on a scale from A++ (superior) down to D (poor), with even lower ratings for companies under regulatory supervision or in liquidation.

"There are risks and costs to action. But they are far less than the long range risks of comfortable inaction."

-- John F. Kennedy

Advocacy is crucial to ensuring that the concerns of our members and their patients are heard by lawmakers at both the state and national level. That's why the Government Relations program at Physicians Insurance works in close cooperation with many other organizations that pursue similar goals, and our staff have become trusted and valued sources of information and ideas for legislators, regulators, and others concerned about our issues.

As a result, we are frequently asked to serve on task forces to develop new laws and regulations and to serve on the boards of local and national organizations and coalitions. For instance, our in-house lobbyist Anne Bryant serves as the Chair of the Government Relations Committee for the Medical Professional Liability Association (MPL Association). We are established as a leading advocate for laws that impact health care liability, insurance, and patient safety. In addition, we work to promote civil justice issues from a defense perspective.

As we keep abreast of issues facing our region, our strong advocacy continues nationally and in states in which we provide coverage. We focus on work such as supporting the Good Samaritan Health Professionals Act, the Affordable Care Act’s provision that no new standard of care for medical liability claims is created by the ACA, and working closely with state medical associations and specialty societies in Alaska, Idaho, Oregon, and Washington.

We also recognize the importance of bipartisan support of candidates open to reasonable laws in our areas of emphasis: health care liability reform, insurance, and patient safety. We support efforts to recruit intelligent and concerned legislative and judicial candidates with a balanced and fair approach, who are able and willing to look at all sides of these issues.

For more information or questions, please contact Anne E. Bryant, Senior Director of Government Relations, at (206) 343-7300 or govrelations@phyins.com.

Relevant Links


This company is forward thinking; in recent years we have diversified our business in a way that has caused us to be seen as a thought leader in our industry. 

Project Management
Employee since 2010