MIEC Receives AM Best A- Excellent Rating For 20th Consecutive Year
MIEC Receives AM Best A- Excellent Rating For 20th Consecutive Year Financial Size Category: VII (USD 100 Million to Less than 250 Million) Oakland, CA (July 18, 2024) – AM Best, a global credit rating service has affirmed MIEC’s financial strength rating of A- Excellent, in the Financial Size Category of VII, with a stable outlook for the 20th 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...
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...
We Are Clearly In Unprecedented Times, As The World Grapples With A Global Pandemic.
First and foremost, we want to join Californians in expressing profound gratitude to our coalition of doctors, nurses, hospitals, and community clinics for the courageous, compassionate, life-saving work they continue to perform on the pandemic frontlines. We now know that proponents of the “Fairness for Injured Patients Act” will soon submit signatures but have indicated they will aim to qualify their initiative for the November 2022 ballot. Regardless of when it appears, this measure would undeniably raise health care costs and reduce access to care when it is needed most. For the time being, we're understandably focused on supporting our...