Exhibit 12

FPIC Insurance Group, Inc.

Ratio of Earnings to Fixed Charges

(in thousands, except the ratio of earnings to fixed charges)	For the Year Ended December 31,
	2007		2006		2005		2004		2003
Interest expense on long-term debt	$	4,472		4,291		3,495		2,564		5,886
Finance charges incurred in the form of interest on funds withheld under reinsurance agreement		—		5,221		6,642		7,152		4,492
Estimated interest within rental expense related to operating leases		367		366		351		340		286
Other interest expense and capitalized expenses		147		74		84		95		475
Total fixed charges		4,986		9,952		10,572		10,151		11,139
Income from continuing operations before income taxes		76,758		47,121		35,869		27,111		13,199
Plus fixed charges		4,986		9,952		10,572		10,151		11,139
Earnings	$	81,744		57,073		46,441		37,262		24,338
Ratio of earnings to fixed charges (1),(2)		16.39		5.73		4.39		3.67		2.18

(1)	We have authority to issue up to 50,000,000 shares of preferred stock; however, there are currently no shares outstanding and we do not have any preferred stock dividend obligations.  Therefore, the ratio of earnings to fixed charges and preferred stock dividends is equal to the ratio earnings to fixed charges and is not disclosed separately.
(2)	For the purposes of this computation, earnings consist of income from continuing operations before income taxes plus fixed charges.  Fixed charges consist of interest expense, capitalized expenses related to indebtedness, finance charges in form of interest on funds withheld under a reinsurance agreement, and an estimate of the interest within rental expense.