April 3, 2020 by matray

MagMutual announced that its medical professional liability policyholders can defer their premium payments for nine months. The premium deferment option is available to existing, new and prospective policyholders. At the completion of the nine-month period, policyholders will then have the option to spread out their outstanding balance over their subsequent renewed policy period.

"We understand that our policy owners are likely to be experiencing more stress, anxiety and financial burden than usual," said Joe Wilson, MD, executive chairman of MagMutual. "We want to do what we can to alleviate one of the concerns they may have, and help in our small way."

Interested policyholders are advised to contact their sales representative or insurance agent. More information, including details of the program and applicable conditions, are provided on the company's website, www.MagMutual.com.

As the situation currently appears, the company expects to keep this relief in place for all of 2020.