FOJP Service Corporation

What FOJP Service Corporation does

FOJP Service Corporation, doing business as Healthcare Risk Advisors (HRA), is a New York-headquartered insurance and risk management organization specializing in medical professional liability and healthcare risk services. Founded in 1994 and operating for over 30 years, the company is a subsidiary of The Doctors Company and operates through its affiliated Hospitals Insurance Company (HIC), which held $2,492.9 million in admitted assets and $969.6 million in policyholder surplus as of December 31, 2024 and carries an A (Excellent) rating from AM Best.

HRA's product portfolio centers on professional liability insurance for physicians and allied healthcare professionals, self-insurance program administration for large hospital systems, risk transfer structuring, claims and litigation management, and a Data Analytics Center of Excellence that benchmarks patient safety and indemnity outcomes against high-risk venue benchmarks. The company distributes through direct enterprise sales to hospitals and academic medical centers (including private equity-backed providers), alongside a producer (broker/agent) portal hosted at portal.thedoctors.com. Geographic focus is exclusively New York State, and the business operates on an annual subscription/quote-based pricing model with coverage limits up to $2M for individual physicians and self-insured programs available for larger healthcare organizations.

Name

FOJP Service Corporation

Legal name

FOJP Service Corporation

Website

https://fojp.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

FOJP Service Corporation, doing business as Healthcare Risk Advisors (HRA), is a New York-based subsidiary of The Doctors Company providing medical professional liability insurance, risk management, claims, and analytics services to hospitals, academic systems, and physicians in New York.

Ownership category

akta.pro rank

Product category

Medical Professional Liability Insurance and Healthcare Risk Management Services

NAICS

Insurance Agencies and Brokerages (524210), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Health and Welfare Funds (525120)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

Professional Liability (Errors & Omissions) (FSAJADAB)

akta.pro secondary industries

Insurance Claims Intake & FNOL Support (BPAAAFAA), Self-Funded (ASO) Group Health Plans & Stop-Loss (FSAIAFAB)

Keywords

• Healthcare risk management
• Medical professional liability
• Malpractice insurance
• Self-insured healthcare programs
• Claims and litigation services

Headquarters

HQ city

New York

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, Supply Chain

Revenue model

1. Professional Liability Insurance: Professional liability coverage for physicians and allied healthcare professionals, typically through annual insurance policies with coverage limits
2. Risk Management Services: Consulting services for self-insurance programs, risk transfer methods, and claims management for healthcare organizations

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

FOJP Service Corporation, doing business as Healthcare Risk Advisors (HRA), provides professional liability insurance and risk management services to hospitals, academic healthcare systems, physician groups, and allied healthcare professionals, primarily in New York. Its offering combines self-insurance program administration, risk transfer solutions, patient safety and risk management consulting, claims and litigation services, and a Data Analytics Center of Excellence that turns claims data into patient safety improvements. Insurance capacity is anchored through group affiliates including Hospitals Insurance Company (HIC).

Product overview

Healthcare Risk Advisors (HRA) operates as a comprehensive healthcare risk management platform offering a unified suite of services for self-insurance programs, risk transfer, risk management, and claims and litigation. The portfolio centers on a Data Analytics Center of Excellence that supports patient safety initiatives, complemented by professional liability coverage for New York physicians and allied healthcare professionals. HRA's services are designed to ensure appropriate coverage levels while providing access to best-in-class risk prevention resources, allowing healthcare organizations to focus on patient care and community service.

Differentiator

Problem solved

Functional benefit

Products and services

• Professional Liability Coverage Professional liability insurance coverage for physicians and allied healthcare professionals affiliated with client hospitals in New York, typically issued through annual policies with coverage limits up to $2M and defending against malpractice claims.
• Self-Insured Programs Administration and management of self-insurance programs for healthcare organizations, providing appropriate coverage levels, access to risk mitigation resources, and capital backing through affiliated insurers including Hospitals Insurance Company (HIC).
• Risk Transfer Risk transfer methods and solutions that help healthcare organizations shift liability exposure to insurance carriers or other entities, structured to complement self-insurance arrangements.
• Risk Management Patient safety and risk management consulting services focused on reducing liability and improving patient outcomes through analytics, best practices, and tailored recommendations to healthcare organizations.
• Claims and Litigation Services Professional claims handling and litigation defense services for healthcare providers, including defense representation and settlement management against malpractice allegations.
• Data Analytics Center of Excellence Advanced analytics service that identifies opportunities to improve patient safety and outcomes by analyzing claims and operational data from healthcare clients, and translating findings into risk-reduction actions.

Quantifiable outcome

• 7% lower average indemnity paid vs. high-risk venues benchmark (limited to $2M)
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• The Doctors CompanycoreStrategic or Co-development PartnerThe Doctors Company is the parent organization that owns Healthcare Risk Advisors. The Doctors Company announced the acquisition of ProAssurance Corporation, expanding its market position in medical malpractice insurance. HRA operates as a key operating subsidiary providing risk management and insurance services to healthcare organizations.

Scale indicators4 records

Recent moves4 records

Expansion highlights5 records

Broad incumbents

• Aon: Aon is a global professional services firm with a large healthcare practice providing insurance brokerage, risk management, and consulting. It competes for hospital-system risk advisory and brokerage mandates, often at larger enterprise scale than HRA.
• Willis Towers Watson: WTW (Willis Towers Watson) is a global advisory and brokerage firm providing risk management, insurance brokerage, and actuarial services to healthcare clients. It competes for hospital-system insurance placement and broader enterprise risk mandates that HRA also targets.
• Marsh McLennan: Marsh, the risk and insurance brokerage arm of Marsh McLennan, provides insurance placement and risk consulting to large healthcare systems. It competes with HRA at the enterprise healthcare risk-brokerage layer and offers broader non-health specialties.

Direct peers

• State Volunteer Mutual Insurance Company: SVMIC is a physician-owned medical professional liability insurer offering malpractice coverage and risk management to physicians and healthcare groups. It competes with HRA on the physician side of HRA's business, especially for allied healthcare professionals.
• Coverys: Coverys is a medical professional liability insurer providing claims, risk management, and patient safety solutions to hospitals, physicians, and healthcare systems. It is a direct competitor in the med-mal plus analytics-led risk prevention space that HRA occupies.
• NORCAL Group: NORCAL Group provides medical professional liability insurance and risk management services to physicians and healthcare organizations, primarily on the West Coast. Now part of ProAssurance, it remains a direct comparator in med-mal coverage and risk advisory for healthcare providers.
• ProAssurance Corporation: ProAssurance is a medical professional liability insurer for healthcare providers and is being acquired by HRA's parent, The Doctors Company. It is a direct peer in hospital and physician malpractice insurance and now sits within HRA's parent group.
• Medical Protective: Medical Protective, owned by Berkshire Hathaway, is one of the largest U.S. providers of medical professional liability insurance for physicians, dentists, and healthcare organizations. It competes head-to-head with HRA for hospital and physician malpractice coverage and shares the same A-rated financial-strength profile.
• MagMutual: MagMutual is a physician-owned medical professional liability insurer offering malpractice coverage and risk management services to hospitals and physicians. It mirrors HRA's combination of insurance coverage and risk-management consulting for healthcare organizations.

Emerging players

• CRICO Strategies: CRICO Strategies, affiliated with the Harvard medical community, provides medical malpractice coverage, claims data, and patient-safety analytics. It overlaps with HRA's Data Analytics Center of Excellence focus on using claims data to reduce liability risk for healthcare systems.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about FOJP Service Corporation