MICA Declares $16 Million Dividend
MICA announced today that its Board of Trustees has declared a policyholder dividend of $16 million, to be allocated among current members as of December 31, 2024, the record date. The dividend represents approximately 18% of the 2024 annual earned premium for members insured by MICA for a full three-year period and will be distributed in February 2025.
“As a mutual insurer, our member-policyholders are at the heart of everything we do,” said Edward G. Marley, MICA’s 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.”
MICA’s Financial Strength Recognised by AM Best with A (Excellent) Rating - 2024
MICA is proud to announce that AM Best has reaffirmed our Financial Strength Rating (FSR) of A (Excellent) and Issuer Credit Rating (ICR) of a+ (Excellent) for another year, both with a stable outlook. MICA Risk Retention Group, Inc. also earned the same A (Excellent), a+ (Excellent) rating.
“These ratings from AM Best underscore our financial strength and stability, enabling us to further our mission to protect, support and defend the practice of medicine” said Edward G. Marley, MICA's President and CEO.
MICA Declares $15 Million Dividend
MICA announced today that its Board of Trustees has declared a policyholder dividend of $15 million to be allocated among current members as of December 31, 2023, the record date. The dividend represents approximately 18% of their 2023 annual earned premium and will be distributed in February 2024.
“We are proud to extend our record of issuing policyholder dividends while rigorously adhering to MICA’s mission to protect, support and defend the practice of medicine,” said Edward G. Marley, MICA’s President and CEO. “This dividend distribution is a testament to MICA’s longstanding financial strength and stability, and we are delighted to share the company’s success with our members.
MICA Once Again Rated A (Excellent) by AM Best - 2023
Mutual Insurance Company of Arizona® (MICA) announced that AM Best has affirmed its Financial Strength Rating (FSR) of A (Excellent) and its Issuer Credit Rating (ICR) of a+ (Excellent) both with a stable outlook. MICA Risk Retention Group, Inc. also received a rating of A (Excellent), a+ (Excellent) with a stable outlook.
“MICA is proud of its continued financial excellence as exemplified by our approach to business and the ongoing recognition by AM Best,” said MICA President and CEO Ed Marley. “MICA’s commitment to the independent physicians, advanced health care professionals, and group practices we cover remains stronger than ever. The people at MICA live our mission every day, and we are committed to bringing value to our members.”
MICA Appoints Edward G. Marley as New President and Chief Executive Officer
Mutual Insurance Company of Arizona (MICA) announced that Edward G. Marley will be the organization’s new President and Chief Executive Officer, effective September 1, 2022. As MICA’s President and CEO, Mr. Marley will succeed James Carland, MD, who has led MICA as President and CEO since 1997 and as Chairman of the MICA Board of Trustees since 2003. Dr. Carland will continue as Executive Chairman of MICA’s Board of Trustees.
Reporting a Claim
To report a claim, occurrence, or lawsuit, call the MICA Claim Department at 800-352-0402 or 602-956-5276. Policyholders can also report a claim to MICA 24/7 by logging in to their account via the website. Simply click "Report a Claim or Potential Claim" at the bottom of the page. Reporting will only take a few minutes, and our MICA claim staff will follow up.
Policyholders should report any occurrence, claim, or lawsuit as soon as possible. By reporting immediately, you may be able to recall crucial details. The first report of a claim must be made by telephone or by our online reporting tool.
Report a Cyber Attack or Data Breach:
- Call 800-352-0402 or 602-956-5276 (Monday – Friday 8:30 a.m. – 5:00 p.m. MST)
- For urgent matters that occur outside of regular business hours, contact Tokio Marine HCC’s breach support team by calling 888-627-8995. Please be prepared to identify yourself as a MICA policyholder and provide a declaration page or coverage form, if available.
Free Risk Management Resources
MICA's Risk Management Services department can address members’ immediate medical professional liability questions and less urgent questions about daily operations. MICA members can call the Risk Management Hotline 800-705-0538 to schedule complimentary on-site or online education, professional liability risk assessments, and telephone or Zoom consultations. Risk management inquiries can also be emailed to rm_info@mica-insurance.com.
MICA's Medical Liability Library
MICA's Medical Liability Library is a digital collection of articles designed to help you protect your medical practice. The medical Liability Library will be updated regularly with new articles and industry updates relevant to running an independent medical practice.
Career Opportunities
Please see our Careers page for current employment opportunities with MICA.
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