Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 24, 2020, the Directors of Positive Physicians Holdings, Inc. and its wholly owned ?subsidiary, Positive Physicians Insurance Company (collectively referred to as the "Company"), adopted a resolution to remove ?Daniel Payne from the position of Treasurer of the Company and appoint Donovan ?Augustin to serve as Treasurer of the Company.

Mr. Augustin, age 44, joined ?the Company as Chief Financial Officer in October 2019. He has over 20 years of ?experience in the (re)insurance industry. Prior to joining the Company, he served as Financial Controller and Senior ?Vice President at JLT Re (North America), Inc. from April 2017 to October 2019 where he was responsible for ?financial reporting to JLT Re Group and JLT Group Finance in the UK, financial planning and analysis and ?overseeing related processes with the company's onshore and offshore support functions. Prior to JLT Re, Mr. ?Augustin was with PricewaterhouseCoopers, serving domestic and multi-national insurance clients in both the audit ?and tax practices during two separate stints with the firm from 2003 to 2005 and July 2013 to April 2017, ?respectively. Mr. Augustin was also an Assistant Controller with PMA Companies, Inc. (formerly, PMA Capital ?Corporation) where he managed the SEC reporting process from 2005 to 2010 and served as Tax Manager, ?following Old Republic's acquisition of PMA in 2010, prior to rejoining PwC in 2013.

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