For a number of years, I was on the board of our state owned and doctor managed malpractice insurance company. There is a huge amount of stuff that went in to it, even for a really small client base. The doctor expertise and input starts to get diluted out very quickly amidst all the other disciplines that need to be represented; investments, claims, legal, actuarial, marketing, accounting, underwriting, etc. The doctors would be able to budget a couple of days every quarter for the board meetings, but the real day to day action took place by the same sorts of folks who worked for any other insurance agency. I think you would be disappointed in just how different it could actually be in the long run.
