January 2, 2025 by matray

Mutual Insurance Co. of Arizona (MICA) today announced that its Board of Trustees has declared a policyholder dividend of $16 million. The dividend will be allocated among participating policyholders who are current members as of Dec. 31, 2024, the record date.

“As a mutual insurer, our member-policyholders are at the heart of everything we do,” said Edward G. Marley, MICA president and CEO. “This dividend is a testament to our financial strength and commitment to offering unique value for our medical professional liability policyholders. We’re proud to share our success directly with our insureds once again.”

The dividend represents approximately 18% of a policyholder’s 2024 annual premium for those members insured by MICA for a full three-year period ending on the Dec. 31, 2024, record date. Members current as of the record date who were consecutively insured less than the full three-year period will receive a pro-rated amount. Additional information regarding the policyholder dividend distribution for each member will be available on MICA’s member portal at www.mica-insurance.com in early February 2025.

Following the February 2025 dividend distribution, MICA will have returned $746 million in dividends to its policyholders since inception, including $95 million in the last five years.

Since 2005, the MICA Board of Trustees has awarded dividends to its policyholders each year.