Exhibit 99

                           FPIC INSURANCE GROUP, INC.
                        COMMENTS ON RECENT RATING CHANGE


            JACKSONVILLE, Fla. (Business Wire) - October 23, 2002 - FPIC
Insurance Group, Inc. (the "Company") (Nasdaq: FPIC) commented today on a recent
change in the Company's group rating by A. M. Best Company ("Best") from A-
(Excellent) with a negative outlook to B++ (Very Good) with a stable outlook.
Based on Best's published ratings guidelines, a Best rating of B++ (Very Good)
is a "Secure" rating assigned to companies that have, on balance, very good
balance sheet strength, operating performance and business profile, when
compared to standards established by Best.

John R. Byers, President and Chief Executive Officer, commenting on the rating
change, stated, "We understand Best's position, given the current economic and
insurance industry environment, and believe the change is as much reflective of
market conditions as it is of our Company. We remain confident that the actions
we have taken to improve pricing, strengthen our underwriting and efficiently
and effectively handle claims will allow us to continue to maintain our strong
position in our core markets. Our organization has been a leader in our core
Florida market for over 25 years and for a majority of that time did not have a
rating. Consequently, we believe the rating change will not materially impact
our ability to continue to execute our business plan, particularly in light of
current hardening market conditions."

The Company also reported that its lenders have expressed a willingness to work
with the Company with respect to appropriate revisions to its loan agreement as
a result of the non-compliance with a loan covenant resulting from the rating
change. Accordingly, the Company's lenders have agreed to forbear taking any
action for a 30-day period to allow adequate time to agree upon and finalize
appropriate revisions.

The group rating change applies to the Company's four insurance companies, First
Professionals Insurance Company, Inc., Anesthesiologists Professional Assurance
Company, Intermed Insurance Company and Interlex Insurance Company.

Safe Harbor Disclosure
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The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Any written or oral statements made by or on
behalf of the Company may include forward-looking statements, which reflect the
Company's current views with respect to future events and financial performance.
These forward-looking statements are subject to certain uncertainties and other
factors that could cause actual results to differ materially from such
statements. These uncertainties and other factors include, but are not limited
to, (i) uncertainties relating to government and regulatory policies (such as
subjecting the Company to insurance regulation or taxation in additional
jurisdictions or amending, revoking or enacting any laws, regulations or
treaties affecting the Company's current operations), (ii) the occurrence of
insured or reinsured events with a frequency or severity exceeding the Company's
estimates, (iii) legal developments,





including claims for extra-contractual obligations or in excess of policy limits
in connection with the administration of insurance claims, (iv) the
uncertainties of the loss reserving process, (v) the actual amount of new and
renewal business and market acceptance of expansion plans, (vi) the loss of the
services of any of the Company's executive officers, (vii) changing rates of
inflation and other economic conditions, (viii) the ability to collect
reinsurance recoverables, (ix) the competitive environment in which the Company
operates, related trends and associated pricing pressures and developments,
(x) the impact of mergers and acquisitions, including the ability to
successfully integrate acquired businesses and achieve cost savings, competing
demands for the Company's capital and the risk of undisclosed liabilities,
(xi) developments in global financial markets that could affect the Company's
investment portfolio and financing plans, (xii) risk factors associated with
financing and refinancing, including the willingness of credit institutions to
provide financing and the availability of credit generally, (xiii) developments
in reinsurance markets that could affect the Company's reinsurance program; and
(xiv) changes in the Company's financial ratings resulting from one or more of
these uncertainties and other factors.

The words "believe," "anticipate," "foresee," "estimate," "project," "plan,"
"expect," "intend," "hope," "should," "will," "will likely result" or "will
continue" and variations thereof or similar expressions identify forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of their dates. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.

Corporate Profile
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FPIC Insurance Group, Inc., through its subsidiary companies, is a leading
provider of professional liability insurance for physicians, dentists and other
healthcare providers, primarily in Florida and Missouri. The Company also
provides management and administration services to Physicians' Reciprocal
Insurers, a New York medical professional liability insurance reciprocal, and
third party administration services both within and outside the healthcare
industry.

Contact
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Roberta Goes Cown
Senior Vice President and Corporate Counsel
904/354-2482, Extension 3287

For all your investor needs, FPIC is on the Internet at
http://www.fpic.com
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