Puerto Rico Medical Defense Insurance Company (PRMD) is an insurance company authorized by the Office of the Commissioner of Insurance of Puerto Rico (OCS, by its acronym in Spanish) as a domestic insurer. Founded by Puerto Rican physicians, PRMD began operations in 2003 under the name Puerto Rico Medical Defense Mutual Insurance Company, offering only excess policies. In 2009, the mutual company was converted to a stock corporation and, with OCS approval, was renamed to Puerto Rico Medical Defense Insurance Company. As part of an ambitious expansion plan, PRMD gradually introduced new products such as primary policies, corporate policies, an insurance program for allied health professionals, and cyber-liability protection. Since then, PRMD has consistently increased its market share by implementing solid sales strategies, continuously improving its underwriting process, and offering the best defense to its policyholders.
PRMD offers policies through various general agencies, producers and authorized representatives throughout Puerto Rico, with a variety of coverage options based on physician specialties and required limits. We have primary policies with statutory limits of $100,000 per incident and $300,000 aggregate, and excess policies ranging from $150,000 per incident to $3,000,000 aggregate. We also insure medical corporations and other healthcare professionals.
Currently, PRMD is the leading local private insurer in the medical malpractice market. With over 22 years of proven experience and an unwavering commitment to the medical profession, we insure over 5,200 physicians and healthcare professionals.
Defend, Educate, and Protect the practice of healthcare professionals.
To be the top insurance choice for healthcare professionals by providing PEACE OF MIND and the BEST DEFENSE.
We offer personalized service tailored to the needs of our policyholders.
We maintain high ethical standards and strict confidentiality in all services provided to our policyholders.
We follow the best business practices to ensure profitability.
We are committed to the welfare of our community.
The well-being of our policyholders, employees, and business partners is our priority.
We are leaders in developing innovative healthcare solutions at the forefront of industry change.
Empathy Exceptional Service ExperiencePRMD’s team is committed and qualified to deliver exceptional service. Respect, quality, and teamwork are at the heart of our organizational culture.
At PRMD, we understand how important your insurer’s financial rating and stability are to you and your practice. Our medical malpractice insurance experts work diligently to ensure you have comprehensive coverage, providing you with the confidence and peace of mind you need to focus on caring for your patients.
PRMD exceeds all statutory capital and surplus requirements mandated by the Office of the Commissioner of Insurance of Puerto Rico.
We have strong backing from world-class reinsurers. Additionally, Demotech, which holds a Nationally Recognized Statistical Rating Organization (NRSRO) designation from the U.S. Securities and Exchange Commission, has awarded us an A “Exceptional” financial strength rating. Demotech specializes in assessing and classifying the financial stability of insurance companies through independent quantitative analysis. The firm is globally recognized for its financial assessment model and was the first to have its rating process approved and accepted by Fannie Mae, Freddie Mac, and HUD.
Our policyholders enjoy direct access to news and professional development resources directly from the leaders in their fields. All at no extra cost.
