MIEC Receives AM Best A- Excellent Rating for 18th Consecutive Year
MIEC Receives AM Best A- Excellent Rating for 18th Consecutive Year Oakland, CA (July 28, 2022) — AM Best, a global credit rating service has affirmed MIEC's financial strength rating of A- Excellent and a stable outlook for the 18th consecutive year. AM Best’s independent rating includes comparisons to industry peers and standards, as well as examinations of business plans, operational philosophy, and management. Their rating summarizes an insurance company’s ability to pay claims, debts, and other financial obligations in a timely manner. The A- Excellent rating reflects AM Best’s assessment of MIEC’s balance sheet, operating performance, and outlook. MIEC’s...
MIEC Declares $12M Policyholder Dividend Credit Distribution! Premium Relief Now – Not Delayed in “Loyalty Benefits” Oakland, CA - On Friday, December 4th, 2020 the MIEC Board of Governors met remotely and approved a $12M policyholder dividend credit to be distributed during the 2021 policy year. MIEC financial results have been anchored by a strong investment strategy, a solid balance sheet, and an experienced management team committed to weathering the volatile MPL marketplace amid the COVID-19 pandemic. The 2021 dividend distribution comes in addition to the nearly $2.8M MIEC distributed to policyholders during the 2020 calendar year in the...
MIEC Returning more than $2.4M in premium relief to policyholders amid COVID-19 pandemic
Oakland, CA (June 15, 2020) – For nearly 45 years MIEC has not wavered in its commitment to policyholders. That commitment continues through these difficult times. MIEC-insured physicians and other healthcare providers are challenged both professionally and financially by the continuing effects of the COVID-19 pandemic. We have observed wide-ranging impacts on their practices, varying by location, specialty, and type of practice. However, virtually all providers have experienced reductions in the number of patients seen and treated in recent months. MIEC has already granted an extension on invoice due dates; however, recognizing the unprecedented reduction in practice volume caused by...
MIEC Declares $13M Policyholder Dividend Credit Distribution, with Stable Rating Outlook
Oakland, CA (March 11, 2020) – The MIEC Board of Governors has approved a $13M policyholder dividend credit to be distributed during the 2020 policy year. MIEC financial results have been anchored by strong investment strategy and solid balance sheet, as well as an experienced management team committed to navigating the volatile MPL landscape. The 2020 Dividend Distribution Declaration marks the 15th consecutive year that MIEC will be offsetting policyholder premiums with dividend credits and now in its 45th year of operation has returned more than $442M to policyholders since dividend distributions began. “Our dividend program is just one of...