October 8, 2018
POSITIVE PHYSICIANS INSURANCE EXCHANGE
TO: Eligible Subscribers of Positive Physicians Insurance Exchange
RE: Notice of Adoption and Filing of Plan of Conversion with Pennsylvania Insurance Commissioner
NOTICE IS HEREBY GIVEN pursuant to 40 P.C.S. §3502(c)(2) that the Attorney-in-Fact of Positive Physicians Insurance Exchange (the “Company”) adopted a Plan of Conversion from Reciprocal to Stock Form on June 1, 2018, and that the Company filed such Plan, as amended (the “Plan”), with the Pennsylvania Insurance Commissioner (the “Commissioner”) on September 25, 2018. The Eligible Subscribers are the policyholder-subscribers of the Company on June 1, 2018.
In order to proceed with the Plan, the Company must obtain an order approving the Plan from the Commissioner. You have the ability to and may provide comments on the Plan to the Commissioner and the Company within 30 days of the date of this Notice. All filed comments will be shared between the Commissioner and the Company and will become part of the Pennsylvania Insurance Department’s (“Department’s”) public record and are subject to public review. Submit your comments in writing to either of the following addresses:
if to the Commissioner:
Company Licensing Division
Pennsylvania Department of Insurance
1345 Strawberry Square
Harrisburg, PA 17120
if to the Company:
Leslie G. Latta
Chief Operating Officer
100 Berwyn Park, 850 Cassatt Road,
Suite 220, Berwyn, PA 19312
Office phone: 888-335-5335
A copy of the Plan and related documents are available for review and download from the Department’s website at: www.insurance.pa.gov. From the blue ribbon at the top of the home page, select “Industry Activity” from the dropdown under “Companies,” then select “Corporate Transactions of Public Interest: Current,” and finally to access the filing received by the Department on September 25, 2018 select “ADD SPECIFIC COMPANY NAME.”
In addition to the approval of the Department, the Plan must be approved by a vote of the Company’s eligible subscribers. The Company intends to call a special meeting of the eligible subscribers for this purpose. The Company will provide a formal notice of that meeting and other voting details at a later date.
Please note that the conversion will not cause any change in your insurance coverage under your policy or your premium.
By Order of the Attorney-in-Fact,
Lewis S. Sharps, MD
Chief Executive Officer