Physicians Preferred Names New President

JACKSONVILLE, FL- In just 48 months, Physicians Preferred Insurance grew to over $15 million in premiums, became a Florida Stock Company and insured over 1,200 Florida Physicians. "But there's still plenty of opportunity for growth from here," says Bill Montei, who starts in his new role today as President of Physicians Preferred Insurance Management. Montei, is hoping to re-create the magic he orchestrated as head of Physicians Insurance Company of Wisconsin where he took the company from inception to almost $80 million in premiums.

"When I was first approached by Physicians Preferred, I was intrigued but I wanted to know how they grew so significantly over such a short period," says Montei. "Having talked with a lot of individuals and carefully reviewed the data, it was clear that their growth was achieved through hard work, great relationships with constituents and retaining excellent advisors and consultants."

Physicians Preferred has a unique approach to medical malpractice insurance which encourages doctors to protect themselves through lower limits as opposed to maxing out coverage. Physicians Preferred only sells policies that meet Florida's $250,000 requirements for coverage, believing increased coverage actually makes doctors a greater target for litigation.

The hiring of Montei, who has 28 years of industry experience, marks an exciting new chapter for Physicians Preferred. The company hopes to further increase market share in Florida and Montei believes there's potential to take the model into other states. "It's highly portable," he adds.

"Being able to land a candidate of Bill Montei's caliber is tremendously thrilling for us. We see a lot of potential in him and he obviously sees a lot of potential in Physicians Preferred," says Elliott Horovitz, the company's CEO.

Physicians Preferred Insurance (PPI) is a four-year-old medical malpractice insurance company based in Jacksonville, FL. PPI is a Florida stock company that offers lower limit medical malpractice insurance and insures over 1,200 physicians. PPI is endorsed by many of the state's largest medical organizations and associations.