The board of Mutual Insurance coverage Firm of Arizona declared a dividend for its policyholders totaling $15 million.
The funds are to be allotted amongst present members, with plans for it to be distributed in February 2024.
The dividend represents roughly 18% of a policyholder’s 2023 annual premium for members insured by MICA for a full three-year interval ending on the Dec. 31, 2023, document date. Members present as of the document date who had been consecutively insured lower than the complete three-year interval will obtain a pro-rated quantity, in line with the corporate.
Following the dividend distribution, MICA studies returning $730 million in dividends to its policyholders since inception, together with greater than $100 million within the final 5 years. Since 2005, MICA’s board has awarded dividends to our policyholders annually.
Further info concerning the dividend might be out there on the member portal in early February 2024.
MICA is a physician-owned and physician-directed mutual insurance coverage firm centered on offering medical skilled legal responsibility insurance coverage.
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