The Missouri Hospital Plan (MHP), a provider of primary medical professional liability insurance coverage for not-for-profit hospitals, has declared a $10 million dividend payable to its hospital members on July 1, 2007.
This dividend is the largest in the history of the MHP; a membership association formed in 1986. It represents 46 percent of the company’s net earned premium for 2006. In addition, MHP is reducing its base rate by 6 percent. Both actions are the result of outstanding financial results, part of which may be attributable to Missouri’s 2005 Tort Reform efforts, the MHP release said.
The company’s wholly owned subsidiary that insures independent physicians, Medical Liability Alliance, has also announced a 6 percent rate decrease effective with renewals after July 1, 2007.
Source: MHP
Topics Missouri
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