Physicians Insurance A Mutual Company (PI) has named David Carlson as its next president and chief executive officer, effective November 1, 2025.
Carlson (pictured above) will succeed William Cotter, who is retiring after a 35-year career with the company, including six years at the helm.
Physician executive at the helm
Founded in 1981, Physicians Insurance provides coverage, risk management and claims services to hospitals, clinics and individual healthcare professionals across the US.
Carlson, a physician executive with more than 25 years of leadership experience, currently serves as chief medical officer and vice president of Medical Operations--King County at Virginia Mason Franciscan Health in Washington. His previous roles include chief physician officer at MultiCare Health System in Washington, Hospital Sisters Health System in Illinois, and Conemaugh Health System in Pennsylvania.
He has been a member of the Physicians Insurance board since 2018 and served as board chair from 2019 to 2023, overseeing the organization's operations, regulatory compliance and investment strategies. The company said his experience across both clinical and administrative settings positions him to guide the mutual insurer through its next phase of growth.
Leadership transition and strategic continuity
Outgoing CEO Cotter has led the organization since 2019, overseeing strategic initiatives that strengthened underwriting discipline, expanded the company's national reach and integrated the Physicians Insurance Risk Retention Group.
Cotter said his time at the company had been a privilege, highlighting the dedication of its employees and their commitment to protecting Members. He described Dr. Carlson as a leader who exemplifies PI’s values and will carry its physician-centered mission forward.
Chief operating officer Christina Galicia noted that Carlson played a key role in shaping the company’s multi-year strategic plan, which focuses on maintaining financial strength and ensuring that members’ interests remain at the core of business decisions.
Physicians Insurance said Carlson will continue to emphasize providing strong claims defense and risk management resources, helping healthcare professionals navigate litigation and regulatory pressures while maintaining their focus on patient care.
