Coverys Distributes 10% Dividend for Eligible Massachusetts Policyholders
Over $46 million in dividends have been distributed since 2008
Boston, MA - July 15, 2014 - Coverys is pleased to announce that the Board of Directors for Medical Professional Mutual Insurance Company (“ProMutual”), a Coverys company, has declared a 10 percent dividend for eligible Massachusetts physician and surgeon policyholders, effective July 1, 2014. Since 2008, Coverys had distributed over $46 million in dividends to Massachusetts policyholders and has not increased base rates for the past five years.
“Coverys recognizes the efforts of our policyholders to practice good medicine and are pleased to be able to reward these efforts by once again distributing a dividend to qualified Massachusetts policyholders,” said Gregg L. Hanson, CEO and president for Coverys. “Coverys continues to be committed to delivering protection and services that healthcare professionals can count on. We believe the risk management and patient safety services that we provide to policyholders have significantly influenced the dividend.”
Coverys is proud to reward policyholders for their loyalty and dedication to the practice of good medicine. For over three decades, Coverys has displayed financial strength and longevity in the marketplace. Coverys emphasizes physician education and patient safety and is acknowledged as a leader in providing supportive risk management services and resolute claim defense to the healthcare community.
For more information about Coverys, contact Loren LeVasseur, public relations specialist, at (617) 946-8665 or firstname.lastname@example.org.
Coverys is the eighth largest medical professional liability insurance provider in the country based on direct written premium. Coverys member companies insure more than 25,000 physicians, dentists, and allied healthcare providers, as well as more than 500 hospitals, health centers and clinics in 27 states from coast to coast. Coverys has net admitted assets of $3.4 billion and direct written premium of $363 million as of December 31, 2013. In addition, Coverys member insurance companies Medical Professional Mutual Insurance Company (“ProMutual”) and ProSelect Insurance Company, as well as ProMutual-sponsored Coverys RRG, Inc. have a Best’s Rating of A (Excellent). MHA Insurance Company and Washington Casualty Company have a Best’s Rating of A- (Excellent), while OHA Insurance Solutions, Inc. is not rated at this time.
Coverys emphasizes physician education and patient safety, and the company is acknowledged as a leader in providing supportive risk management services and resolute claim defense to the healthcare community. For more information visit Coverys at www.coverys.com