Partnership seems to be the latest in a series of abused business buzz words. It has been used to describe everything from the makers of acne medication to laundry detergent. I don’t know how many of you have a personal relationship with your laundry detergent, however, I hope that you have begun to see the commitment to a lasting partnership with you we have demonstrated over the years. When done effectively, partnership is an interactive process composed of many parts moving in concert, like a precision timepiece with all its parts – gears, springs, hands, dial, crystal – working together to achieve their purpose.

At Princeton Insurance, we hold the concept of partnership as one of our three core values, the others being protection and prevention. In this report, and on the occasion of our 30th anniversary, we seek to highlight the foundational partnerships – among policyholders, independent insurance agents, skilled defense attorneys and our dedicated employees – that have combined for success in a marketplace where so many other insurers have tried and failed.

On April 9, 1976, our predecessor company, The Health Care Insurance Exchange, issued its first insurance policies to New Jersey hospitals and physicians. Today, Princeton Insurance enjoys the longest continuous market presence of any company writing medical professional liability insurance in the Garden State.

The experience gained from 30 years of continuous market presence puts Princeton Insurance in a unique position. Through marketplace highs and lows, through financial profit and loss, through tort system pains and gains, our ability to partner with New Jersey healthcare providers for their financial protection and loss prevention has been shaped, tested and strengthened.

One of the key truths learned over these 30 years is the importance of distinguishing our mission from our methods. Our mission – to protect New Jersey healthcare providers and partner with them to provide outstanding patient care – spans time and is essentially the same as it was in 1976. The methods we use to accomplish that mission, however, undergo continual change in response to rapidly changing conditions happening everywhere: in medicine, law, economics and business.

That’s our part of the ongoing partnership: a timeless commitment to our founding mission coupled with timely methods that work best for current conditions.

Thanks for all your efforts in providing outstanding healthcare to the New Jersey community, and for partnering with Princeton Insurance.

William J. McDonough
President and CEO