In January 2012, Princeton Insurance was acquired by Medical Protective/Berkshire Hathaway, which has resulted in enhanced product offerings and greater financial strength for their policyholders. The recent transaction will help New Jersey physicians and healthcare providers confront the challenges they face in a changing healthcare environment. Princeton Insurance has continually been recognized for its excellent customer service as well as Competitive Medical Malpractice coverage for New Jersey physicians especially in primary care specialties, such as Internal Medicine, Family Practice, and Pediatrics. Princeton Insurance is rated A+ (Superior) by A.M. Best.
What are the benefits?
- Part-time rates can still be calculated as 21 hours or less per week (as they always have been) or can be calculated as 1,092 hours per year, which works well for physicians that travel for part of the year but work full/heavier weeks while in town.
- Doctors who are on a Claims-Made Policy and switch in to Princeton Insurance Company, a division of MedPro, can qualify for a free tail fully earned after only 1 year with Princeton if they have a retroactive date from 48 months prior. Also, the age requirement of 55 has been removed. There is no longer an age requirement.
- The new doctor discount has been extended into the doctor’s 3rd year in practice (was formerly 2 years). Now, a new doctor gets a 75% discount for their first year in practice, 30% in their second year, and 15% in their 3rd year.
- New Jersey policyholders will still experience the sound service long-provided by Princeton Insurance, but will also receive the medical malpractice coverage benefits that MedPro/Berkshire Hathaway offers. The MedPro-Princeton combination marks a win for all NJ policyholders, who will continue to receive the same excellent service they have come to expect along with additional coverage services, resources, and enhanced protection
To obtain a quote from Princeton Insurance, please contact PriMed.
About Princeton Insurance
Princeton Insurance Insurance is the largest healthcare professional liability insurer in New Jersey, serving the state’s hospitals and individual medical and healthcare professionals continuously since 1975. With responsibility for over 19.000 healthcare providers and approximately $150 million in annual premium, Princeton is New Jersey’s leader in professional liability coverage and risk solutions for healthcare providers, including hospitals physicians, dentists, chiropractors, optometrists, podiatrists, and other healthcare facilities. Princeton Insurance is a MedPro/Berkshire Hathaway company with an A+ (Superior) rating from A.M. Best.