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PHOENIX, Sept. 15, 2022 (GLOBE NEWSWIRE) — Today Mutual Insurance Company of Arizona (MICA) introduced that AM Best has as soon as once more assigned a monetary energy score of “A” (Excellent), with a corresponding long-term issuer credit standing of “a+” (Excellent) and a steady outlook. MICA Risk Retention Group, Inc. additionally obtained an AM Best “A” (Excellent) score.
“MICA’s level of risk-adjusted capitalization is among the strongest in the medical professional liability industry as evidenced by AM Best’s evaluation,” mentioned MICA President and CEO Ed Marley. “As a policyholder-owned and physician-directed mutual insurance company, MICA remains steadfast in its focus on assuring a solid financial foundation, enabling MICA to deliver on its commitment of availability, service and support to policyholders.”
AM Best acknowledged MICA’s favorable working efficiency, which has outpaced the property-casualty business and the medical skilled legal responsibility composites over the previous 5 years, along with its long-term historical past of natural surplus progress. MICA’s working metrics allowed for a distribution of $125 million in policyholder dividends since 2017. AM Best additionally acknowledged MICA’s current premium progress pushed by sturdy renewal business, in addition to its enterprise threat administration competencies.
AM Best is a world credit standing company, information writer and information analytics supplier specializing within the insurance business. For all score data referring to the discharge and pertinent disclosures, together with particulars of the workplace liable for issuing every of the person rankings referenced on this launch, please see AM Best’s Recent Rating Activity net web page. For further data concerning the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings.
About Mutual Insurance Company of Arizona
Mutual Insurance Company of Arizona (MICA) is a member-owned and physician-directed mutual insurance firm centered on offering medical skilled legal responsibility insurance. For 46 years, MICA has been acknowledged for its monetary energy, declare administration, prudent loss reserving, threat administration publications and applications, private consideration, and member focus. MICA supplies high quality medical skilled legal responsibility protection with distinctive service to particular person physicians, doctor teams, superior healthcare professionals, and medical amenities in Arizona, Colorado, Nevada, and Utah. For extra data, go to https://www.mica-insurance.com.
