In 1976, the predecessor company to Princeton Insurance was created to meet a critical need as commercial insurers withdrew from the state or raised rates by as much as 300 percent. This new company, the first hospital-owned and
-directed insurance company in the nation, embarked on what has now become decades of partnership with the New Jersey healthcare community, the longest continuous market presence of any company writing healthcare malpractice insurance in New Jersey. Measured either by numbers of policyholders or total premiums, Princeton Insurance is the leading healthcare professional liability insurer in the Garden State.
Through marketplace highs and lows, financial success and challenge and multiple changes within the state’s legal system, our ability to partner with New Jersey healthcare providers for their financial protection and loss prevention has been tested, shaped and strengthened.
All of this experience comes to bear in the pursuit of the company’s mission: to protect the New Jersey healthcare community and partner with them in their efforts to provide outstanding patient care.
In 2012 Princeton Insurance became a Medical Protective/Berkshire Hathaway company. Medical Protective has been protecting healthcare providers since 1899 and is the nation's highest-rated healthcare malpractice carrier, according to both S&P and A.M. Best. MedPro has been providing unmatched strength, winning defense, and innovative solutions to physicians, dentists and other healthcare providers three times longer than their closest competitor.
Princeton’s local knowledge and expertise, joined together with MedPro’s nationwide presence and Berkshire’s unmatched financial strength result in an even stronger partnership with our policyholders to meet the challenges they face and provide the protection they deserve. This alliance not only allows the company to maintain its position as the leader in healthcare malpractice insurance in New Jersey, but also to expand coverage to more healthcare providers and medical facilities throughout the state.
A.M Best has given Princeton Insurance a Financial Strength Rating of A++ (Superior), their highest rating.