Scpie Holdings Inc - Statement of Changes in Beneficial Ownership (4)

FORM 4 [ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Expires: February 28, 2011 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * MOSELEY WENDELL L	2. Issuer Name and Ticker or Trading Symbol SCPIE HOLDINGS INC [ SKP ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __ X __ Director                      _____ 10% Owner _____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle) 1888 CENTURY PARK EAST, SUITE 800	3. Date of Earliest Transaction (MM/DD/YYYY) 6/30/2008
(Street) LOS ANGELES, CA 90067 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	6/30/2008		D		16470	D	$28	0	D
Common Stock   (1)	6/30/2008		D		8000	D	$28	0	D

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$36.50	6/30/2008		D			5000	(2)	5/13/2008	Common Stock	5000	$0	0	D
Stock Option (right to buy)	$28.00	6/30/2008		D			1000	(2)	5/12/2009	Common Stock	1000	$0	0	D
Stock Option (right to buy)	$24.25	6/30/2008		D			1000	(3)	5/10/2010	Common Stock	1000	$3.75   (4)	0	D
Stock Option (right to buy)	$19.32	6/30/2008		D			1000	(3)	5/9/2011	Common Stock	1000	$8.68   (4)	0	D
Stock Option (right to buy)	$16.70	6/30/2008		D			15000	(3)	10/16/2011	Common Stock	15000	$11.30   (4)	0	D
Stock Option (right to buy)	$11.44	6/30/2008		D			5000	(3)	5/23/2015	Common Stock	5000	$16.56   (4)	0	D

Explanation of Responses:
( 1)	Represents deferred stock. Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated October 15, 2007, among the Registrant, Scalpel Acquisition Corp. and The Doctors Company, the deferred stock was cancelled in exchange for a cash payment equal to $28 per share of common stock subject to such deferred stock.
( 2)	These fully vested options were cancelled under the Merger Agreement without consideration as they were "underwater" based on the $28 per share merger consideration.
( 3)	These fully vested options were cancelled pursuant to the Merger Agreement in exchange for a cash payment equal to the number of shares underlying the option multiplied by the difference between the exercise price of the option and the $28 per share merger consideration.
( 4)	This represents the difference between the merger consideration of $28 per share and the exercise price of the option.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MOSELEY WENDELL L 1888 CENTURY PARK EAST SUITE 800 LOS ANGELES, CA 90067	X

Signatures
/s/ Wendell L. Moseley		6/30/2008
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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