News

NORCAL Mutual Acquires PPM Services

January 03, 2017

FOR IMMEDIATE RELEASE

 

MEDIA CONTACTS:     Sandy Knott         Jim Johnson
 sknott@norcal-group.com jim.johnson@ppmrrg.com
 512.879.5157 800.562.5589

Partnership Expands NORCAL’s National Footprint and PPM’s Anesthesia Brand

San Francisco, Calif. (January 3, 2017) — NORCAL Mutual Insurance Company (NORCAL) completed its acquisition of PPM Services, the holding company for Preferred Physicians Medical Risk Retention Group, Inc. (PPM) following shareholder and regulatory approval. This acquisition will result in a partnership between NORCAL and PPM that furthers NORCAL’s national expansion and extends PPM’s industry leading anesthesia brand.

PPM is the only anesthesia-specific medical professional liability insurance carrier in the nation, insuring anesthesia practices in over 40 states. PPM will remain in Overland Park, Kansas and continue to be led by President and CEO Steven Sanford.

“We are very excited to welcome PPM to the NORCAL Group,” President and CEO of NORCAL, Scott Diener said. “PPM has an exceptional team and a well-respected brand dedicated to providing the best products and services for the anesthesia community. Their philosophy of putting the policyholder first and approach to business is fundamentally aligned with NORCAL’s values.”

"The opportunity to join such a well-respected company as NORCAL and begin to leverage their resources for the benefit of our policyholders represents an exciting new chapter in our specialty focused company,” Steven Sanford, President and CEO of PPM said. “We look forward to our partnership with NORCAL and continuing our mission to deliver value to our policyholders.”

PPM Services is now a wholly owned subsidiary of NORCAL Mutual and PPM has converted from a stock company to a mutual company, which is reflected in PPM’s formal name change to Preferred Physicians Medical Risk Retention Group, a Mutual Insurance Company.

Transaction Advisors

PPM Services and PPM were advised in this transaction by Waller Helms.

About NORCAL Mutual

Since 1975, NORCAL Mutual has been a policyholder-owned and physician-directed medical professional liability carrier dedicated to ensuring the availability of affordable and relevant coverage. Along with its subsidiary companies Medicus Insurance Company, FD Insurance Company and NORCAL Specialty Insurance Company, NORCAL Mutual is one of the top ten medical professional liability carriers in the nation, based on direct written premium, and holds an “A” (Excellent) rating by A.M. Best for its financial strength and stability. Learn more on our website at norcalmutual.com.

About Preferred Physicians Medical

Established in 1987, Preferred Physicians Medical (PPM) pioneered the concept of a specialty-specific insurance company. PPM is the only anesthesia-specific medical professional liability insurance carrier in the nation. The company is national in scope, insuring anesthesia practices in over 40 states. Learn more about PPM at its website ppmrrg.com.

News Archive

3/5/2019 Missouri Unanimous Defense Verdict

Jury rejected contention that CRNA failed to properly recognize and respond to respiratory arrest.

11/21/2018 New York Defense Verdict

Jury rejected theory that medications were contraindicated and caused cardiac arrest.

10/16/2018 Derick George, MD Joins PPM Board of Directors

PPM policyholder appointed new board member.

10/8/2018 Missouri Unanimous Defense Verdict

Jury agreed supervising anesthesiologist was not required to be present for leak test.

7/12/2018 PPM Announces Officer Promotions and Claims Staff Addition

New roles for seasoned staff and an addition to claims department.

6/4/2018 New York Wrongful Death Defense Verdict

Jury agreed the risk of postponing an emergency surgery for a critically ill patient outweighed the risks of proceeding.

2/15/2018 PPM Secures 44th Consecutive Upper Extremity Nerve Damage Verdict

Court recognized upper extremity nerve injuries can occur absent negligence.

1/25/2018 PPM Contributes to ASA Monitor Article

Recent publication of “Distractions in the O.R.”

11/21/2017 Leadership Transitions at PPM

Steve Sanford retires as CEO and joins PPM Board. Wade Willard promoted to COO.

10/19/2017 PPM Conducts 400th Risk Management Seminar

Milestone marks continued commitment to patient safety and risk management.

6/30/2017 PPM Contributes to Special Article Featured in Anesthesia & Analgesia

Recent publication of “Falls From the O.R. or Procedure Table”

6/28/2017 Directed Verdict in Virginia Wrongful Death Trial

Court orders a directed verdict after finding no reasonable jury could reach a decision to the contrary.

3/22/2017 IV Infiltration Burn Case - Arizona Defense Verdict

Jury overcomes sympathy of injuries to minor patient.

2/17/2017 Arizona Wrongful Death Defense Verdict

Jury rejects plaintiffs’ arguments that anesthesiologist’s heroic rescue efforts were negligent.

1/3/2017 NORCAL Mutual Acquires PPM Services

Partnership Expands NORCAL’s National Footprint and PPM’s Anesthesia Brand

12/6/2016 PPM Shareholders Approve Merger with NORCAL Mutual
11/21/2016 PPM Services to be Acquired by NORCAL Mutual

Partnership Expands Anesthesia Leadership for PPM and National Footprint for NORCAL

11/2/2016 PPM Announces Claims Staff Addition

Mr. Danon Williamson joins PPM as Claims Attorney.

10/12/2016 Directed Verdict Granted in New York Fall Injury Trial

Prolific plaintiffs’ expert’s trial testimony fails to meet burden of proof.