History 

As early as the 60’s, the Oklahoma State Medical Association (OSMA) utilized the power of group purchasing to negotiate 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 medical professional liability 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 has served Oklahoma physicians for more than 30 years. Our only interest is providing a stable and physician friendly professional liability insurance market as well as a comprehensive set of products and services to physicians, medical entities and the employees that serve them. We look forward to serving the needs of the physicians of Oklahoma for many years to come.