As early as the 60’s, the Oklahoma State Medical Association (OSMA) utilizing the power of group purchasing and negotiated with various insurance companies for a special professional liability program for its members. Terms were reviewed on an annual basis and various carriers competed for the endorsement.

The first OSMA endorsed commercial carrier was St. Paul who was then replaced by Insurance Company of North America (INA) and finally Hartford. In the 4th quarter of 1979, the Hartford advised OSMA that they required a 35% increase in premium for the 1980 policy year. It was at this time that the OSMA decided that Oklahoma physicians needed a better solution. The Board of Trustees decided a “captive” insurance company was the best way to stabilize the malpractice insurance market. In 1979, PLICO was formed as a wholly owned subsidiary of OSMA and issued its first policy on January 1, 1980.

The PLICO Board consists of Oklahoma physicians who are elected by the OSMA House of Delegates. PLICO is managed, controlled and directed by its physician Board. This structure results in a physician focused company where the policymakers are physician colleagues of the insureds. Only another physician is fully aware of the challenges faced by fellow physicians and this understanding influences the underwriting, claims and operating decisions of the Company.

PLICO is currently in its 30th year of serving Oklahoma physicians. Our only interest is providing a stable and physician friendly professional liability insurance market. We look forward to serving the needs of the physicians of Oklahoma for many years to come.