Underwriting Overview

The Underwriting Department is pleased to be playing an important role in PLICO‘s bright future. Our two-fold strategy is simple, yet highly effective; reward preferred physicians by initiating a PLICO Preferred Experience Discount; and continue to accurately and fairly identify those physicians at a higher risk of loss.

­The PLICO Preferred Experience Discount was implemented in 2007 and provides a reduction in premium which ranges from 5% to 20% based on a physician’s tenure and claim history with PLICO.

­The responsibilities and performance of the Underwriting Department has been continuously evolving since 2004. In the “old” days, the staff served primarily as a processing service for new business and in making changes to existing policies.  All policies were rated the same, based on specialty alone.

Today, we are much better at serving our insureds. Every request is underwritten and analyzed so that exposure to risk is the foundation of our pricing. Lower risk translates into lower cost. Conversely, higher risk means higher cost. We do our best to ensure that each physician pays a fair and equitable price.

We appreciate all our physicians who have participated in this important change in PLICO‘s underwriting philosophy and who look forward to additional favorable impact on our rates. Controlling exposures and reducing costs improves our ability to deliver a great product and service at the best price. PLICO will continue to support Oklahoma physicians and medical excellence in our state.