PHOENIX, Aug. 11, 2022 (GLOBE NEWSWIRE) — Today Mutual Insurance Company of Arizona (MICA) announced that Edward G. Marley will be the organization’s new President and Chief Executive Officer, effective September 1, 2022. As MICA’s President and CEO, Mr. Marley will succeed James Carland, MD, who has led MICA as President and CEO since 1997 and as Chairman of the MICA Board of Trustees since 2003. Dr. Carland will continue as Executive Chairman of MICA’s Board of Trustees.
Mr. Marley steps into this role after leading MICA’s financial operations for 11 years as its Chief Financial Officer. Under his leadership, MICA has strengthened its financial position as demonstrated by its rating of A (Excellent) from AM Best Company. MICA’s balance sheet has grown to nearly $1.2 billion and $800 million in statutory surplus during his tenure. Since its inception, MICA has issued $700 million in policyholder dividends.
“During an extensive nationwide search, we sought someone who had the business acumen, industry expertise, and long-term vision to further MICA as an industry leader,” said Dr. Carland. “We are confident that with his leadership, Ed is the right person to continue MICA’s commitment to its member-insureds and its physician focused mission.”
Mr. Marley brings an extensive history of professional liability experience to his new role. Prior to joining MICA, he served as Vice President at The Doctors Company and at SCPIE Holdings Inc. Earlier in his career, he served as the Chief Financial Officer for a professional liability carrier insuring CPAs.
Mr. Marley is active within the Medical Professional Liability Association, having been past Chair and current member of its Technology, Human Resources, and Finance Committee and a member of the Committee on Rating Agency Relations. He earned an MBA from the University of San Francisco and received an undergraduate degree from the University of Maryland, College Park.
“As President and CEO, I plan to continue the strong and enduring mission of MICA,” said Mr. Marley. “MICA is an exemplary advocate for its physicians and advanced health care professionals and a regional industry leader.”
About Mutual Insurance Company of Arizona
Mutual Insurance Company of Arizona (MICA) is a physician-owned and physician-directed mutual insurance company focused on providing medical professional liability insurance. For 46 years, MICA has been recognized for its financial strength, claim management, careful loss reserving, risk management publications and programs, personal attention, and member focus. MICA provides quality medical professional liability coverage with exceptional service to individual physicians, physician groups, advanced healthcare professionals, and medical facilities in Arizona, Colorado, Nevada, and Utah. For more information, visit https://www.mica-insurance.com.
Contact: Hana Kim
Mutual Insurance Company of Arizona
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1210456b-40ec-4dda-b6cb-9ddfd3731c50