Coverage ordered for P.I.E. clients

Maryland Watch

December 16, 1997

Maryland Insurance Commissioner Steven B. Larsen yesterday ordered the Doctors' Co., a California-based malpractice insurer, to offer renewals to all Maryland doctors currently covered by financially troubled P.I.E. Mutual Insurance Co.

Ohio regulators moved into P.I.E.'s offices in Cleveland yesterday, changed the office locks, began an inventory of office equipment and changed computer codes to secure the system pending an audit of the company's books. On Saturday, P.I.E.'s board fired the company's top three executives.

P.I.E., Ohio's largest malpractice insurer, was placed under supervision last month by that state's insurance commissioner. The company agreed not to write new policies and to have the Doctors' Co. assume its renewals.

Larsen said it was not clear from the agreement whether the Doctors' Co. would insure all of P.I.E.'s subscribers, so he moved to make sure that all Maryland doctors could get malpractice coverage.

P.I.E. insured about 16 percent of Maryland doctors, although some may have switched carriers as the company's troubles became public, Larsen said.

Pub Date: 12/16/97

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