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PHICO.

Insurance is a way to manage risk by providing you with the support to face financial losses due to a tragedy or accident. It involves paying a premium according to the property subjected of insurance and the type of protection you want to give it among other aspects.

The Commonwealth Court of Pennsylvania placed PHICO into liquidation effective February 1, 2002, due to insolvency. At present, the Liquidator for the company is accepting claims against the estate.
 
The Company’s Insurance Department was established under the Act of Assembly on April 4, 1873, PL 20 and reorganized under the Insurance Department Act on May 17, 1921, PL 789 is responsible for administering the laws of the common wealth as they pertain to the regulation of the insurance industry and the protection of the insurance consumer. The goal of the liquidator is to exploit the value of the assets of the liquidated company and distribute the assets equitably as provided in the Insurance Department Act of 1921.
 
The Company provided medical malpractice, general liability and workers compensation insurance for hospitals, physician groups and individual physicians. An affordable Health Insurance policy covers basic health care needs in case of illness or accident of the insured. Similar to any other health insurance policy, you pay a monthly premium and receive benefits from your health insurance company when you need them. Health insurance is available to groups as well as individuals. Government plans, such as Medicare, are offered to people who meet certain criteria. 
 
PHICO mission is to promote a competitive marketplace for consumers, educate consumers to make informed decisions, assist consumers to assure that they are treated fairly in compliance with PA laws, Innovate to meet the changing financial services marketplace. 

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