CMIC Rating Upgraded to “A-” (Excellent) by A.M. Best
GLASTONBURY, CT – March 10, 2008 – CMIC, a leading doctor-owned medical malpractice insurer serving Connecticut and Massachusetts, announced today an upgrade in its A.M. Best financial strength rating to A- (Excellent).
“A.M. Best utilizes rigorous criteria to assess insurers' financial health. The upgrade of CMIC’s A.M. Best rating confirms the company’s strength and long-term stability in an evolving industry,” said Denise Funk, CEO of CMIC. “I credit this accomplishment to the efforts of our doctors, agents and employees.”
CMIC’s upgraded rating reflects their commitment to firm underwriting standards and prudent financial management. Since CMIC’s last rating change in 2002, the company doubled its surplus while stabilizing its policyholders’ rates. This year marks the fourth consecutive year CMIC’s rates have not increased. The Company also offers a claims free program which reduces eligible doctors’ premiums up to 30%.
“Demonstrated financial stability, innovative problem solving and unmatched risk management are what policyholders expect from CMIC as the area’s longest standing doctor-owned medical malpractice insurer,” said Funk. “We will continue to identify the critical needs of doctors and healthcare professionals and provide creative solutions to meet those needs. As we approach our 25th year of business, we will embark upon new programs and expand our current services to assist our policyholders in providing best of class service to their patients while effectively mitigating risk.”
About CMIC
CMIC, established as a mutual company in 1984, is a leading doctor-owned provider of professional liability insurance and services to doctors and healthcare professionals in Connecticut and Massachusetts. CMIC currently writes over 2,400 policies for physicians, dentists, podiatrists, chiropractors and other healthcare providers. CMIC is headquartered in Glastonbury, CT and serves Connecticut and Massachusetts exclusively. For more information visit CMIC’s website at www.cmic.biz.
Media Contact: Wendy Barclay
Communications Specialist
80 Glastonbury Boulevard
PO Box 71
Glastonbury, CT 06033
T: 860.633.7788 ext. 288
F: 860.633.8237
E-mail: wsb@cmic.biz
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