Texas Medical Insurance Company

What Texas Medical Insurance Company does

Texas Medical Insurance Company (TMIC) is a privately held, Austin, Texas-based medical professional liability insurer founded in 1995 as a wholly owned subsidiary of Texas Medical Liability Trust (TMLT), which was established by the Texas Medical Association in 1979. TMIC underwrites claims-made and occurrence medical liability policies for allied health care professionals in Texas — including registered nurses, advanced practice nurses, nurse midwives, CRNAs, physician assistants, paramedics and EMTs, pharmacists, optometrists, psychologists, chiropractors, podiatrists, technicians, technologists, therapists, and surgical assistants — with coverage limits ranging from $100,000/$300,000 to $1 million/$3 million per claim/aggregate. Policies bundle Medefense coverage that reimburses up to $25,000 in legal expenses (with a $1,000 deductible) for defense of disciplinary actions by state medical boards, hospital review committees, and federal regulators.

The company's product platform extends beyond the core insurance contract to a full claims and risk management service: experienced medical-liability defense attorneys and claims staff operate 24-hour on-call claim reporting, will not settle without policyholder consent, and aggressively defend non-meritorious claims. Risk management resources include free continuing medical education courses, on-site practice reviews by TMLT risk management professionals, and "Case Closed" educational case studies. TMIC distributes through both a network of 20+ preferred agency partners across Texas and select other states (including Arthur J. Gallagher, Lockton, USI, Higginbotham, Frost Insurance, and others) and a direct online self-serve application with specialized questionnaires for telemedicine, chiropractic, nurse midwife, and podiatry practices.

TMIC generates revenue primarily through annual subscription premiums on medical liability policies and supplemental tail/prior acts coverage, and earns additional premium income by providing reinsurance to Lone Star Alliance, Inc., a TMLT-operated risk retention group that writes medical liability coverage for physicians, dentists, allied health professionals, and groups nationwide. The company is licensed and regulated by the Texas Department of Insurance and operates with no disclosed headcount, revenue, funding events, or external investors.

Name

Texas Medical Insurance Company

Legal name

Texas Medical Insurance Company

Website

https://tmic.org

Company type

Private

Founded year

1995

Operating status

Operating

Short description

Texas Medical Insurance Company is an Austin-based, privately held medical professional liability insurer that underwrites claims-made and occurrence policies for allied health care professionals in Texas, backed by Texas Medical Liability Trust.

Ownership category

akta.pro rank

Product category

Medical Professional Liability Insurance

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Healthcare Professional Liability (Med Mal) (FSAJAGAE)

akta.pro secondary industries

Medical Malpractice Liability (FSAJADAK), Professional Liability (E&O) (FSAJAGAC), Professional Liability (Errors & Omissions) (FSAJADAB)

Keywords

• Medical malpractice insurance
• Professional liability insurance
• Healthcare risk management
• Medical claims defense
• Allied health insurance

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Medical Professional Liability Insurance Premiums: TMIC generates revenue through premium payments from policyholders for medical liability coverage. The company offers claims-made and occurrence policies with various coverage limits ranging from $100,000/$300,000 to $1 million/$3 million per claim/all claims.
2. Supplemental Coverage (Tail/Prior Acts): Additional coverage products purchased when a claims-made policy expires to provide ongoing protection for claims that may arise in the future from services performed during the active policy period.
3. Reinsurance Services: TMIC provides reinsurance to Lone Star Alliance, a risk retention group that provides medical professional liability insurance to physicians, dentists, allied health care professionals, and groups nationwide.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Texas Medical Insurance Company underwrites and services medical professional liability insurance policies for allied health care professionals in Texas, offering both claims-made and occurrence policy forms with coverage limits ranging from $100,000/$300,000 to $1 million/$3 million. Policies bundle Medefense coverage for legal expenses associated with disciplinary actions by state medical boards, hospital review committees, or federal regulators. The company also delivers claims defense through in-house claim professionals and outside defense attorneys, 24-hour claim intake, and risk management resources such as CME courses and on-site practice reviews.

Product overview

Texas Medical Insurance Company offers a unified medical liability insurance platform providing professional liability coverage for allied health care professionals. The core product is Medical Liability Insurance, available as either Claims Made or Occurrence Policy types. Medefense Coverage is included within policies to protect against disciplinary actions. The company also provides Risk Management services including Continuing Medical Education and Practice Reviews, along with Claim Management services featuring 24-hour claim reporting and defense attorney support.

Differentiator

Problem solved

Functional benefit

Products and services

• Medical Liability Insurance Professional medical liability insurance providing malpractice coverage for allied health care professionals in Texas, including nurses, CRNAs, physician assistants, paramedics, pharmacists, podiatrists, chiropractors, technicians, therapists, and surgical assistants, available in claims-made and occurrence forms with limits from $100,000/$300,000 to $1 million/$3 million.
• Claims Made Policy A medical liability policy form that protects the policyholder for claims reported during the active policy period (typically one year), requiring supplemental tail or prior-acts coverage if the policy is not renewed, offered at entry ($100,000/$300,000), mid-range ($200,000/$600,000 or $300,000/$900,000), and high-value ($500,000/$1.5 million or $1 million/$3 million) coverage tiers.
• Occurrence Policy A medical liability policy form that provides ongoing protection for incidents that occur during the policy period even if reported after cancellation, eliminating the need for supplemental tail or prior-acts coverage.
• Medefense Coverage Add-on coverage bundled into TMIC medical liability policies that pays up to $25,000 in legal expenses (with a $1,000 deductible, waived when using TMIC panel counsel) and covers fines and penalties associated with disciplinary actions by state medical boards, hospital review committees, or federal regulatory agencies, available to physician assistants, CRNAs, nurse anesthetists, nurse midwives, nurse practitioners, paramedics/EMTs, podiatrists, dentists, chiropractors, and pharmacists.
• Claim Management and Defense Services In-house claim management service employing specialized claim professionals and defense attorneys who handle medical liability claims and regulatory actions for TMIC policyholders, with 24-hour on-call claim intake, refusal to settle non-meritorious claims without policyholder consent, aggressive defense posture, and attendance at mediations and trials.
• Risk Management Services Risk management services delivered to TMIC policyholders at no additional cost, including continuing medical education courses (home-study, online, seminars, video), Case Closed claim-study books, and on-site practice reviews by risk management professionals that assess patient safety concerns, medical records, policies, and procedures and produce recommendation reports.

Quantifiable outcome

• Parent company TMLT covers more Texas physicians than the five largest competitors combined
• +1 more outcomes

Named customers14 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered flagship and core.

• Texas Medical Liability Trust (TMLT)flagshipStrategic or Co-development Partner · 1 January 1979TMLT is the parent company of TMIC, established by the Texas Medical Association in 1979 to provide affordable, reliable coverage against medical liability claims. TMLT is a self-insured trust led by a Board of Governors elected by policyholders and now has more than 20,000 policyholders. TMIC was founded in 1995 as a wholly owned subsidiary of TMLT.
• Lone Star Alliance, Inc.coreStrategic or Co-development PartnerLone Star Alliance is a risk retention group that provides medical professional liability insurance to physicians, dentists, allied health care professionals, and groups nationwide. It is operated by TMLT for management and administrative services and is reinsured by TMIC.
• Agency Partners (Preferred Agents)coreChannel Partner/ Reseller/ DistributorTMIC works with a network of preferred agency partners for customers who want to work with an agent to obtain coverage. Partners include Archibald & Associates, Arthur J. Gallagher, Bank of San Antonio Insurance Group, Bergfeld Agency, Coverica, Frost Insurance Agency, Healthcare Liability Solutions, HealthSure Insurance Services, Higginbotham & Associates, and others.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Coverys: Medical professional liability insurer providing claims-made and occurrence coverage to physicians, allied health professionals, hospitals, and healthcare groups. Comparable to TMIC as a med mal carrier with a comparable product structure and emphasis on aggressive defense of claims.
• ISMIE Mutual Insurance Company: Medical professional liability carrier founded by the Illinois State Medical Society, providing med mal coverage to physicians and allied health professionals. Highly comparable to TMIC, reflecting the same association-backed mutual model with state-level concentration.
• MagMutual Insurance Company: Medical professional liability insurer serving physicians and healthcare providers, owned by policyholders and backed by a state medical association. Closely mirrors TMIC's mutual/association-backed model and emphasis on policyholder consent before settlements.
• NORCAL Group: Medical professional liability insurer providing coverage to physicians and allied health professionals, with mutual heritage. Direct competitor to TMIC in the med mal space, with overlapping product structure (claims-made, occurrence) and risk management services.
• State Volunteer Mutual Insurance Company (SVMIC): Physician-owned med mal insurer founded by a state medical association (Tennessee), offering coverage to physicians and allied health with a strong service and risk management model. Highly comparable to TMIC given its parallel mutual/association-backed structure and regional focus.

Broad incumbents

• ProAssurance Corporation: National medical professional liability insurer formed through consolidation of NORCAL and other mutuals. Compares to TMIC as a direct med mal carrier with allied health exposure, but operates at multi-state scale versus TMIC's Texas-centric model.
• CNA Financial (Healthcare Professional Liability): Large commercial insurer with a dedicated healthcare professional liability practice serving hospitals, physicians, and allied health. Comparable to TMIC in product offering but operates as a broad-line carrier across multiple insurance markets.
• Medical Protective (a Berkshire Hathaway company): One of the largest medical professional liability insurers in the U.S., offering med mal coverage to physicians and many allied health classes. Comparable to TMIC as a direct med mal carrier, but operates at national scale and serves a broader customer base than TMIC's Texas-focused allied health niche.
• The Doctors Company: Largest physician-owned med mal insurer in the U.S., with a national footprint and coverage for allied health professionals. Directly competes with TMIC in the broader medical professional liability category, though at much larger scale and across all 50 states.

Regional players

• Lone Star Alliance: Risk retention group providing medical professional liability insurance nationwide, operated by TMLT and reinsured by TMIC. Materially comparable to TMIC in product and ownership structure, but extends reach beyond Texas through the RRG structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Texas Medical Insurance Company