Physicians' Reciprocal Insurers
Physicians' Reciprocal Insurers is a New York-based reciprocal insurance exchange whose subsidiary EmPRO Insurance Company underwrites medical professional liability coverage for physicians, allied healthcare professionals, and healthcare facilities across the Northeast US, supported by in-house claims management and actuarial capabilities.
- Company typePrivate
- Founded1988
- HeadquartersRoslyn, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Physicians' Reciprocal Insurers does
Physicians' Reciprocal Insurers (PRI) is a New York-domiciled private reciprocal insurance exchange founded in 1982, headquartered in Roslyn, NY, with a regional office in Rochester, NY. PRI is the parent company of EmPRO Insurance Company, the New York State-licensed medical professional liability carrier that has written all PRI policies since October 2021, and of PRIMMA LLC, the wholly owned Attorney-in-Fact that manages PRI's operations. The company is owned by its policyholders and governed by a Board of Governors composed of practicing physicians, a structure it describes as physician-run.
PRI's core product is medical malpractice / professional liability insurance for individual physicians across virtually every medical discipline, allied healthcare professionals (physician assistants, nurse practitioners, chiropractors, dentists), and healthcare facilities (hospitals, ambulatory surgery centers, medical schools, large physician groups, and alternative risk transfer / captive entities). Coverage is written on claims-made, occurrence, and modified claims-made bases at primary, excess, and entity liability layers. A general liability product is offered to facilities as a standalone or complementary line.
The company's revenue model is subscription-recurring insurance premiums, with policies billed annually, a 2% discount for full-pay at inception, and premium financing available through Bank Direct. Distribution is multi-channel: direct phone-based sales and service, online quick quote for New York physicians, independent insurance agents in New Jersey, Pennsylvania, and Connecticut, and broker/insured self-service portals (InsuredXpress, AgentXpress). Underlying the underwriting operation is an in-house claims management system that produces customizable historical claims reports and benchmarks, supported by in-house actuarial capabilities. Value-added services — including claims defense, risk management education, a peer support program, and the Physicians' Club community — are provided at no additional premium. PRI maintains offices in Roslyn and Rochester, NY, and is HIPAA-compliant as a business associate handling protected health information.
Physicians' Reciprocal Insurers firmographics
Firmographics- Name
- Physicians' Reciprocal Insurers
- Legal name
- Physicians' Reciprocal Insurers
- Website
- https://pri.com
- Company type
- Private
- Founded year
- 1988
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Physicians' Reciprocal Insurers is a New York-based reciprocal insurance exchange whose subsidiary EmPRO Insurance Company underwrites medical professional liability coverage for physicians, allied healthcare professionals, and healthcare facilities across the Northeast US, supported by in-house claims management and actuarial capabilities.
- Ownership category
- akta.pro rank
Physicians' Reciprocal Insurers industry classification
Industry- Product category
- Medical Malpractice Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers (5241)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)
- akta.pro industry
- Medical Malpractice LiabilityHealthcare Professional Liability (Med Mal)
Keywords
Where Physicians' Reciprocal Insurers is headquartered
LocationHeadquarters
- HQ city
- Roslyn
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Physicians' Reciprocal Insurers business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Medical Professional Liability Insurance Premiums: PRI and its subsidiary EmPRO Insurance Company generate revenue through medical malpractice/professional liability insurance premiums. The company offers policies to physicians, healthcare facilities, and allied healthcare professionals. Premiums are collected through annual, pay-in-full (with 2% discount), or premium financing options. Policies include primary, excess, and entity liability coverage written on claims-made, occurrence, or modified claims-made basis.
- General Liability Coverage: Healthcare facilities can purchase general liability coverage as a standalone or complementary product to professional liability policies. This provides protection against claims of bodily injury, property damage, or personal injury occurring on premises.
- Premium Finance Services: PRI offers premium financing through Bank Direct for physicians and healthcare professionals to spread premium payments over time rather than paying annual premium in full.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Standard Physician Medical Malpractice Coverage |
| Subscription | Annual | Healthcare Facility Professional and General Liability |
| Hybrid | Pay-as-you-go | Premium Financing Option |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels6 records
Physicians' Reciprocal Insurers product offering
Product offeringCore offering
Physicians' Reciprocal Insurers (PRI), through its wholly owned subsidiary EmPRO Insurance Company, provides medical professional liability (malpractice) insurance to physicians, allied healthcare professionals, and healthcare facilities across New York and the Northeast U.S. Coverage is offered on claims-made, occurrence, and modified claims-made bases in primary, excess, and entity liability forms, supported by in-house claims defense, personalized underwriting, and complimentary risk management and peer support services.
Product overview
Physicians' Reciprocal Insurers (PRI) operates as the parent company, with EmPRO Insurance Company (its subsidiary) writing all policies as of October 2021. The core product is Medical Malpractice Insurance for physicians and healthcare providers, offered alongside Healthcare Facility Insurance covering hospitals, medical facilities, and large doctor groups. The product portfolio includes Professional Liability and General Liability coverage with multiple policy types (Claims-Made, Occurrence, Modified Claims-Made) and policy forms (Primary, Excess). Value-added services include Claims Handling, Risk Management Services, Peer Support Program, Physicians' Club, and Online Risk Management Courses with CME credits. Premium discount programs and financing options complement the core insurance offerings.
Differentiator
Problem solved
Functional benefit
Brands
- Physicians' Club: A program for medical professionals and their families to connect, share experiences, and foster camaraderie through networking events and activities
- Physician Peer Support Program
- EmPRO Insurance Company
Products and services
- Medical Malpractice Insurance for Physicians Professional liability (medical malpractice) insurance for physicians across virtually every medical discipline, including primary care, surgical specialties, and subspecialties, providing defense and counsel to protect medical practices and personal reputations. Available on claims-made, occurrence, and modified claims-made bases in primary, excess, and entity liability forms.
- Professional Liability Insurance for Healthcare Providers Professional liability coverage under EmPRO Insurance Company for physician assistants, nurse practitioners, chiropractors, and dentists.
- Healthcare Facility Insurance Combined professional and general liability insurance solutions for healthcare facilities including hospitals, medical facilities, large doctor groups, medical schools, ambulatory surgery centers, clinics, laboratories, dialysis centers, senior care facilities, and alternative risk transfer arrangements.
- Facility Professional Liability Coverage Coverage protecting healthcare facilities against claims of negligence, errors, or omissions in patient care, extending protection to employed medical professionals within the facility.
- Healthcare General Liability Coverage Protection for healthcare organizations against claims of bodily injury, property damage, or personal injury occurring on premises or resulting from operations; available as a standalone or complementary product to professional liability.
- Medical Entity and Excess Coverage Additional coverage layers including Medical Entity coverage and Excess coverage for physicians and facilities requiring protection beyond primary policy limits.
- Claims Handling Services
- Risk Management Services
- Physician Peer Support Program Confidential support services for physicians facing unexpected complications, medical errors, malpractice lawsuits, depositions, or trials, available via one-to-one telephone or group sessions at no additional cost to policyholders.
- Premium Financing through Bank Direct Option to finance insurance premiums through Bank Direct, allowing policyholders to spread premium payments over time rather than paying annual premium in full, with the 2% full-payment discount automatically built into the financed total.
Quantifiable outcome
- All risk management resources and services available at no additional cost to policyholders
- +1 more outcomes
Companies that use Physicians' Reciprocal Insurers
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
Physicians' Reciprocal Insurers technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Physicians' Reciprocal Insurers partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Society to Improve Diagnosis in Medicine (SIDM)corePRI is a proud sponsor of SIDM, supporting their mission to improve diagnosis in medicine. SIDM has developed the Assessment of Reasoning Tool to support educators in assessing clinical reasoning skills during patient presentations. PRI provides this resource to medical educators through their platform.
- Medical Society of the State of New York (MSSNY)corePRI sponsors MSSNY, the professional organization representing physicians in New York State. The partnership supports physician advocacy and provides resources including the Committee For Physician Health.
- Committee For Physician Health (CPH)coreCPH is a physician health program supported by MSSNY. PRI's sponsorship supports physician wellness initiatives and peer support programs.
- New York State Office of Mental HealthminorNY State partnered with PRI to promote the COVID-19 Emotional Support Hotline (1-844-863-9314), providing free and confidential emotional support to healthcare workers experiencing increased anxiety during the pandemic.
- HeadspaceminorNew York State partnered with Headspace to offer free meditation and mindfulness content during the COVID-19 pandemic. PRI referenced this resource in their COVID-19 Information and Resource Center for physicians.
- Bank Direct (Premium Financing)minorBank Direct provides premium financing services to PRI policyholders, allowing them to spread insurance premium payments over time rather than paying annual premiums in full. Contact: 800-526-2470, Option 2.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Physicians' Reciprocal Insurers competitors and assessment
Company assessmentDirect peers
- CMIC Group: Medical professional liability carrier focused on physicians, hospitals, and healthcare professionals in the Northeast (Connecticut and beyond). Directly comparable to PRI/EmPRO in geography, product (med mal), and healthcare-facility customer segment.
- MagMutual Insurance Company: Physician-owned medical professional liability insurer offering med mal coverage, risk management, and peer support services. Directly comparable to PRI on the reciprocal-style mutual governance, physician-run model, and layered value-added services beyond the core policy.
- The Doctors Company: Largest physician-owned medical malpractice insurer in the U.S., providing med mal coverage across all 50 states. Comparable to PRI/EmPRO in product (physician and facility professional liability) and physician-led/governed model, but with substantially broader geographic reach.
- Coverys: Medical professional liability insurer offering med mal and related liability coverage to physicians, hospitals, and healthcare systems, with strong Northeast presence (formerly ProMutual). Direct overlap with PRI/EmPRO in product line, customer segments, and regional footprint.
- ProAssurance Corporation: Specialty insurer focused on medical professional liability for physicians, healthcare facilities, and ancillary professionals. Overlaps directly with PRI/EmPRO on med mal product offering and healthcare-provider customer base, with comparable facility and physician underwriting capabilities.
- MedPro Group (Medical Protective): Medical professional liability insurer (part of Berkshire Hathaway) offering med mal coverage to physicians, dentists, and healthcare facilities. Comparable to PRI/EmPRO on med mal core product and healthcare customer base, with substantially greater capital backing and national footprint.
- NORCAL Group (Norcal Mutual): Medical professional liability carrier providing coverage to physicians, healthcare facilities, and groups across multiple states. Comparable to PRI/EmPRO in core product (med mal), mutual-like governance heritage, and emphasis on claims defense and risk management services.
- ISMIE Mutual Insurance Company: Medical professional liability insurer serving physicians and healthcare facilities, headquartered in Illinois with multi-state reach. Comparable to PRI/EmPRO on physican- and facility-focused med mal product and mutual-style governance, though more Midwest-skewed.
- MLMIC (Medical Liability Mutual Insurance Company): Long-standing New York-based medical professional liability mutual insurer serving physicians, surgeons, and healthcare facilities. MLMIC is the most direct comparable to PRI/EmPRO given the shared NY-centric focus, mutual/reciprocal-adjacent structure, and overlapping physician and facility customer base.
Broad incumbents
- Liberty Mutual Insurance: Large national multiline property and casualty insurer that writes commercial and specialty liability lines including medical professional liability on a regional basis. Comparable to PRI/EmPRO only at the broad-competitor level — Liberty Mutual underwrites some of the same facility and large-group accounts but does not focus exclusively on med mal.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Physicians' Reciprocal Insurers social profiles
Digital presencePhysicians' Reciprocal Insurers compliance and trust
Trust signalCompliance1 record
Physicians' Reciprocal Insurers financial estimates
Financial estimateRevenue estimate
Valuation estimate
Physicians' Reciprocal Insurers leadership team
Management profileNumber of profiles
Profiles11 records
Physicians' Reciprocal Insurers subsidiaries and ownership
Company hierarchySubsidiaries2 records
Physicians' Reciprocal Insurers funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Physicians' Reciprocal Insurers M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Physicians' Reciprocal Insurers
What does Physicians' Reciprocal Insurers do?
Physicians' Reciprocal Insurers (PRI), through its wholly owned subsidiary EmPRO Insurance Company, provides medical professional liability (malpractice) insurance to physicians, allied healthcare professionals, and healthcare facilities across New York and the Northeast U.S. Coverage is offered on claims-made, occurrence, and modified claims-made bases in primary, excess, and entity liability forms, supported by in-house claims defense, personalized underwriting, and complimentary risk management and peer support services.
Is Physicians' Reciprocal Insurers a public or private company?
Physicians' Reciprocal Insurers is a private company. It is classified as management employee owned and is currently operating.
When was Physicians' Reciprocal Insurers founded?
Physicians' Reciprocal Insurers was founded in 1988. It employs 101 to 250 people.
Where is Physicians' Reciprocal Insurers based?
Physicians' Reciprocal Insurers is headquartered in Roslyn, United States, in the North America region.
How does Physicians' Reciprocal Insurers make money?
Three revenue lines are on record. Medical Professional Liability Insurance Premiums are the primary driver. The others are general Liability Coverage and premium Finance Services.
Who are Physicians' Reciprocal Insurers's main competitors?
Direct peers on record are CMIC Group, MagMutual Insurance Company, The Doctors Company, Coverys, ProAssurance Corporation, MedPro Group (Medical Protective), NORCAL Group (Norcal Mutual), ISMIE Mutual Insurance Company and MLMIC (Medical Liability Mutual Insurance Company). Liberty Mutual Insurance is listed as a broad incumbent.
Does Physicians' Reciprocal Insurers have an API?
No public API is recorded for Physicians' Reciprocal Insurers.
What industry is Physicians' Reciprocal Insurers in?
Physicians' Reciprocal Insurers's product category is Medical Malpractice Insurance. Its primary akta.pro industry code is FSAJADAK, Medical Malpractice Liability, with a secondary code of FSAJAGAE, Healthcare Professional Liability (Med Mal). Its NAICS code is 524126 and its SIC code is 6331.