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Medical Mutual Declares Third Dividend In Four Years
For the third time in the past four years, Medical Mutual’s Board
of Directors has declared a dividend aggregating approximately
$1,811,000 to eligible policyholders in Maine, New Hampshire
and Vermont. This dividend is made possible because the Company
continues to see improvement in prior years’ (2006 and earlier)
loss experience and favorable investment returns.
Eligible lines of business include physicians and surgeons, hospitals,
nursing homes and allied healthcare facilities that have an
active policy on or after April 1, 2010. To qualify for the portion
of the dividend related to investment returns, eligible active
insureds must have had an active policy in effect on December
31, 2009. To qualify for the portion of the dividend attributable
to favorable loss-experience, eligible active insureds must also have
had an active policy in force on December 31, 2006.
All eligible lines of business in Maine, New Hampshire and
Vermont will share equally in the investment portion of the dividend
totaling $551,000 equating to roughly a 1.30 percent return
in premium. For the loss-experience component of the dividend,
which totaled $1,260,000, each eligible line of business was evaluated
on a state-by-state basis on their respective claims experience
and premium revenue to determine the additional amount of
return premium for qualifying policyholders.
Including this dividend declaration, Medical Mutual will have
returned approximately $9,629,000 to policyholders since 2007.
President and CEO, Terrance J. Sheehan, MD, said, “With continued
vigilance to patient safety measures, I sincerely hope our
loss experience will trend favorably in all three states, enabling me
the pleasure of announcing another dividend next year. I am
grateful for your continued loyalty and support of Medical
Mutual and your unyielding dedication and commitment to providing
the highest quality of care to all your patients.”
