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FOR IMMEDIATE RELEASE
A.M. Best Affirms CMIC Group’s A- (Excellent) Rating
GLASTONBURY, CT – June 13, 2017 – CMIC, a leading member-owned medical professional liability insurance company, announced today that A.M. Best has affirmed the financial strength rating of A- (Excellent), and the Long-Term Issuer Credit Ratings of "A-" of Connecticut Medical Insurance Company (CMIC) (Glastonbury, CT) and CMIC Risk Retention Group (District of Columbia).
The A.M. Best ratings continue to reflect CMIC Group's strong balance sheet strength and its long history of positive organic surplus growth, mainly attributed to profitable operating results and retained earnings.
“We are pleased that A.M. Best continues to recognize our dedication to strong underwriting practices and financial diligence,” said Denise Funk, Chief Executive Officer of CMIC Group. “For over thirty years it has been our goal to provide our members with a financially sound and stable insurance partner. Our reaffirmed A- (Excellent) rating demonstrates this.”
A.M. Best is the most prominent and widely recognized provider of ratings for the insurance industry. Their ratings are determined through an extensive analysis of a company's balance sheet strength, operating performance and business profile.
“Trent’s experience in the insurance industry, ranging across a variety of member-orientated functions, from risk management to claims, positions him well to oversee our robust and exceptional member services offering,” said Stephen J. Gallant, Chief Executive Officer of CMIC Group. “His appointment as Director of Member Services will enhance not only our team, but the experience of our physician membership.”
About CMIC Group
CMIC Group includes both CMIC and its member affiliate, CMIC Risk Retention Group (CMIC RRG). CMIC Group is a leader in developing innovative insurance programs, services, and solutions for physicians, doctors, healthcare providers, hospitals, and facilities dating back to the origins of CMIC in 1984. For more information, visit the CMIC Group website at www.cmic.biz.
80 Glastonbury Boulevard
Glastonbury, CT 06033
T: 800.228.0287 ext. 283