The Doctors Company

What The Doctors Company does

The Doctors Company is the nation's largest physician-owned medical malpractice insurer, founded in 1976 in Napa, California, and operating as a reciprocal interinsurance exchange under the TDC Group holding structure. The company provides medical professional liability insurance and ancillary coverage to more than 100,000 members pre-acquisition and more than 200,000 healthcare professionals and organizations post-ProAssurance, spanning individual physicians and surgeons, dentists, advanced practice clinicians (NPs, PAs, CRNAs, CNMs), and hospitals and health systems across all 50 states. The combined entity holds $12 billion in assets as of the June 2026 ProAssurance close and carries an "A" financial strength rating from both AM Best and Fitch.

Core products include medical, dental, advanced-practice clinician, telehealth, and hospital/health system malpractice insurance, plus a portfolio of practice coverages: MediGuard and MediGuard PLUS (regulatory risk), D&O, E&O, EPLI, property/general liability, and workers' compensation. Underlying technology includes the proprietary AIDE platform (built on 50 years of claims data, converting unstructured documents into structured information and projected to cut claims processing times by 50 percent), the Technology Assisted Underwriting (TAU) program, and an enterprise-wide Microsoft Copilot deployment. Revenue is generated primarily through recurring annual professional liability premiums supplemented by specialty lines, with up to 10 percent of premiums returned to eligible members as dividends ($500 million cumulative to date, $14.3 million announced for 2026). Distribution combines direct inside sales, member self-service portal, and an independent agent/broker network, supported by a 50-state regulatory advocacy program and member loyalty incentives (Tribute Plan, with over $200 million paid to retiring physicians).

Name

The Doctors Company

Legal name

The Doctors Company

Website

https://thedoctors.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

501–1,000 employees

Short description

The Doctors Company is the largest US physician-owned medical malpractice insurer, providing professional liability coverage and risk management services to over 200,000 physicians, surgeons, dentists, advanced practice clinicians, and hospitals across all 50 states, now combined with the acquired ProAssurance subsidiary.

Ownership category

akta.pro rank

Product category

Medical Malpractice Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Medical Malpractice Liability (FSAJADAK)

akta.pro secondary industries

Healthcare Professional Liability (Med Mal) (FSAJAGAE), Professional Liability (Errors & Omissions) (FSAJADAB)

Keywords

• Medical malpractice insurance
• Professional liability coverage
• Healthcare risk management
• Dental malpractice insurance
• Hospital liability coverage

Headquarters

HQ city

Napa

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Medical Professional Liability Insurance Premiums: Recurring premium payments from physicians, surgeons, dentists, and other healthcare professionals for medical malpractice insurance coverage. Premiums are the primary revenue stream, with pricing based on specialty, claims history, and coverage limits.
2. Specialty Insurance Lines: Additional insurance products including hospitals and health systems coverage, management liability (D&O), errors and omissions, property and general liability, workers' compensation, and employment practices liability.
3. Dividend Returns: The company returns profits to members in the form of dividends. Total dividends declared to date amount to $500 million, with eligible members receiving up to 10% of their premiums back.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels12 records

Core offering

The Doctors Company underwrites and sells medical professional liability (malpractice) insurance and ancillary practice coverages to physicians, surgeons, dentists, advanced practice clinicians, hospitals, health systems, and telehealth providers in the United States. As a physician-owned reciprocal interinsurance exchange operating under TDC Group, it bundles coverage with risk management, patient safety resources, claims defense, and the Tribute Plan retirement loyalty rewards, distributing through direct sales and independent agents and brokers.

Product overview

The Doctors Company is the nation's largest physician-owned medical malpractice insurer, offering a comprehensive suite of insurance and risk management solutions. The core product portfolio includes medical malpractice insurance for physicians, surgeons, dentists, advanced practice clinicians (nurse practitioners, physician assistants, certified nurse-midwives, certified registered nurse anesthetists), and hospitals/health systems. The company also provides Telehealth Coverage and practice management coverages including MediGuard (regulatory risk coverage for administrative actions), MediGuard PLUS, Management Liability (D&O), Errors and Omissions, Health and Disability, Employment Practices (EPLI), Property and General Liability, and Workers' Compensation. TDC Group includes TDC Specialty Underwriters and Healthcare Risk Advisors. Beyond insurance, the company offers Patient Safety Resources with monthly Malpractice Risk Review reports, INSIGHT Programs, Surviving Litigation Seminars, and Accredited Education (CME). The company has invested in AI technology including the AIDE Platform for claims processing and the Technology Assisted Underwriting (TAU) program. The Tribute Plan provides loyalty rewards to members upon retirement.

Differentiator

Problem solved

Functional benefit

Brands

• TDC Specialty Underwriters: Specialty insurance underwriting division within TDC Group
• Healthcare Risk Advisors
• MediGuard
• MediGuard PLUS
• Tribute Plan
• The Doctor's Advocate
• The Dentist's Advocate
• The Practitioner

Products and services

• Medical Malpractice Insurance for Physicians, Surgeons, and Groups Primary professional liability coverage for physicians, surgeons, and medical groups against malpractice claims; flagship product offering comprehensive protection with consent-to-settle guarantee and Tribute Plan retirement rewards for individual practitioners and group practices across all medical specialties.
• Dental Malpractice Coverage

Quantifiable outcome

• Claims processing times reduced by 50 percent using AIDE platform
• +5 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• ProAssurance CorporationcoreOthers · 28 June 2026ProAssurance Corporation was acquired by The Doctors Company for $1.3 billion and will operate as a wholly owned subsidiary while a review process determines the optimal operating structure for the combined entity. ProAssurance's common stock has been deregistered from the SEC and delisted from NYSE. The acquisition creates one of the largest medical professional liability insurers in the US.
• MicrosoftcoreTechnology or IntegrationMicrosoft Copilot has been deployed across the enterprise, achieving process step reductions of up to 90 percent in some workflows. This represents a significant enterprise-wide AI adoption initiative under the leadership of COO Deepika Srivastava.
• TDC GroupcoreStrategic or Co-development PartnerThe Doctors Company is part of TDC Group, which includes TDC Specialty Underwriters and Healthcare Risk Advisors. TDC Group serves the full continuum of healthcare from individual physicians to academic medical systems and provides the organizational structure for all group companies.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Medical Protective (MedPro): One of the oldest and largest U.S. physician-focused medical malpractice insurers, providing MPL coverage to individual physicians, groups, and healthcare systems. Directly competes with The Doctors Company in the physician-ownership and specialty-defended segment of MPL.
• NORCAL Group (now part of ProAssurance): Physician-owned MPL insurer serving individual physicians, medical groups, and healthcare facilities. Closely comparable mutual-style medical malpractice product offering to The Doctors Company, particularly in California.
• Coverys: Healthcare-focused liability insurer providing medical professional liability, general liability, and related coverages to hospitals, physicians, and healthcare professionals. Directly comparable MPL product set and target customer base.
• MagMutual: Physician- and hospital-owned medical professional liability insurer offering MPL, medical office, and workers' compensation to healthcare providers. Closely comparable mutual/owner-driven MPL model.
• MLMIC (Medical Liability Mutual Insurance Company): Physician-owned MPL mutual insurance company serving New York-based physicians, surgeons, and healthcare providers. Highly comparable physician-owned reciprocal-style MPL product set.
• ProAssurance Corporation: Direct competitor MPL insurer for physicians, healthcare facilities, and hospitals acquired by The Doctors Company in June 2026 for $1.3B. Now a wholly owned subsidiary, historically one of the closest peers in physician MPL coverage.

Broad incumbents

• CNA Financial: Large national P&C insurance carrier with healthcare professional and general liability lines, including MPL coverage as part of a broader commercial insurance portfolio. Overlaps with The Doctors Company in healthcare liability but operates across many additional lines.
• Chubb: Global P&C and specialty insurer offering professional liability (including healthcare MPL) as part of a broad portfolio for healthcare organizations and individual providers. Overlaps in MPL but as a sub-line of larger commercial insurance offerings.
• Travelers: Large national P&C insurer with a healthcare professional liability product line targeted at hospitals and large healthcare systems. Overlaps with The Doctors Company's hospital system segment as part of a much broader commercial book.

Others

• Healthcare Risk Advisors (HRA) - TDC Group: Wholly owned TDC Group subsidiary providing risk management consulting to healthcare organizations. Sister entity within The Doctors Company's group structure; comparable only as ecosystem participant, not competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/doctorscompany
• YouTubeyoutube.com/user/doctorscompany
• Facebookfacebook.com/thedoctorscompany
• LinkedInlinkedin.com/company/21702

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Doctors Company