Arizona Insurer of Physicians Declares $12M Dividend to Help in COVID-19 Pandemic

April 22, 2020

Mutual Insurance Company of Arizona has declared a special dividend designed to provide economic relief to its members.

The company will distribute a $12 million dividend to all members with policies in-force as of April 30. The dividend will be credited to policyholder accounts on June 1.

“We have been closely monitoring the evolution of this pandemic and stand to support our members who face unprecedented practice challenges and economic hurdles,” Ron Malpiedi, senior vice president and chief operating officer, said in a statement. “Like many other businesses, healthcare practitioners throughout Arizona, Colorado, Nevada and Utah are feeling the broad effects of this pandemic.”

In addition to the dividend, MICA is waiving cancellations for non-payment of premium until June 30.

MICA is a physician-owned and directed mutual insurance company, providing medical professional liability insurance to physicians and advanced healthcare professionals throughout Arizona, Colorado, Nevada and Utah.

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