$95 Million Returned to Policyholders in the Last 5 Years
PHOENIX, Jan. 02, 2025 (GLOBE NEWSWIRE) — Today Mutual Insurance Company of Arizona® (MICA) announced that its Board of Trustees has declared a policyholder dividend of $16 million. The dividend will be allocated among participating policyholders who are current members as of December 31, 2024, the record date.
“As a mutual insurer, our member-policyholders are at the heart of everything we do,” said Edward G. Marley, MICA President and CEO. “This dividend is a testament to our financial strength and commitment to offering unique value for our medical professional liability policyholders. We’re proud to share our success directly with our insureds once again.”
The dividend represents approximately 18% of a policyholder’s 2024 annual premium for those members insured by MICA for a full three-year period ending on the December 31, 2024 record date. Members current as of the record date who were consecutively insured less than the full three-year period will receive a pro-rated amount. Additional information regarding the policyholder dividend distribution for each member will be available on our member portal at www.mica-insurance.com in early February 2025.
Following the February 2025 dividend distribution, MICA will have returned $746 million in dividends to its policyholders since inception, including $95 million in the last five years.
Since 2005, the MICA Board of Trustees has awarded dividends to our policyholders each year. Past performance does not guarantee future dividends.
About MICA
Mutual Insurance Company of Arizona® (MICA) is a member-owned and physician-directed mutual insurance company focused on providing medical professional liability insurance. MICA provides high-quality coverage with exceptional service to individual physicians, physician groups, advanced health care professionals, and medical facilities in Arizona, Colorado, Montana, Nevada, Utah, and Wyoming. Since 1976, MICA has been recognized for its financial strength, claim management, careful loss reserving, and member focus. MICA’s values and vision further its mission to protect, support, and defend the practice of medicine by being the medical professional liability solution that frees our members to focus on patient care. For more information, visit https://www.mica-insurance.com.
Contact: Hana Kim
Mutual Insurance Company of Arizona
hkim@mica-insurance.com
602-808-2253
