The Podiatry Insurance Company of America (PICA) was incorporated in Tennessee in May 1980 and offered its first podiatric policies in January of 1981. The development, founding and capitalization of a medical professional liability company devoted to podiatric physicians resulted from a tremendous effort by many physicians. There were immense legal considerations and many insurance regulations to navigate.
For nearly 29 years, PICA operated as a mutual company, with its policyholders owning and directing the company. In 2009, PICA successfully demutualized and joined the ProAssurance family of companies. ProAssurance is the fourth largest provider of medical professional liability insurance in the country. To learn more about ProAssurance, click here.
It's important to note that the guiding principles for the foundation of PICA are still essential to our success today. Those include providing support for the podiatric profession, maintaining a strong and stable financial business structure and offering quality coverage for a fair price.
PICA has always emphasized the importance of risk management and loss prevention along with stringent underwriting principles and superior claims handling. From its earliest days, committees composed of podiatric physicians established underwriting and claims philosophies that have served the company well in ensuring that claims losses are within acceptable levels.
PICA is rated A+ "Superior" by A.M. Best, the leading rating analyst for the insurance industry. This is an indication of Best's confidence in the financial stability of the PICA, as well as its ability to serve its policyholders today and into the future. PICA is domiciled in Illinois and its offices are in Franklin, TN.