MIEC Declares $12M Policyholder Dividend Credit Distribution!

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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 form of COVID-19 premium credits to help lessen the financial burden healthcare professionals were experiencing amid numerous restrictions to the practice landscape.  The 2021 Dividend Distribution marks the 16th consecutive year MIEC will be offsetting policyholder premiums with dividend credits and now approaching its 46th year in operation will have returned more than $454M to policyholders since dividend distributions began.

“While producing policyholder dividends is not a stated business objective of MIEC, it is one of the many benefits of operating a member-owned exchange.”  Said MIEC President Andrew Firth.  “Producing profits is a result of better-than-expected operating results.  However, distributing those profits in the form of policyholder dividend credits is a byproduct of more than 4 decades of putting policyholders first, and keeping profits where they belong – with our members. MIEC members do not have to wait until they retire to receive the cash benefit of ownership in their insurer.  We are dismayed that in these times of economic hardship for physicians in our communities that other carriers continue to tie up benefits in ‘loyalty’ packages with payments delayed until retirement.”

MIEC remains committed to providing policyholders with best-in-class Medical Professional Liability (MPL) Insurance coverage through effective partnership, innovative insights, and dynamic risk solutions. MIEC provides professional liability insurance, risk management, and other related services to physicians, healthcare professionals, medical groups, and acupuncturists in California, Hawaii, Alaska, and Idaho.  Please visit www.miec.com for more information.

Media Contact:

Blair Tomlinson – MIEC, Director of Sales & Marketing

Direct:   510.596.4935

Email:    info@miec.com