A.M. Best Reaffirms CMIC's A- (Excellent)  Rating for Third Consecutive Year 

GLASTONBURY, CT – February 11, 2010 – CMIC, a leading doctor-owned medical malpractice insurer serving Connecticut and Massachusetts, today announced A.M. Best has reaffirmed it’s A- (Excellent) financial strength rating for the third consecutive year. A.M. Best’s rating reaffirmation reflects CMIC’s excellent risk-adjusted capitalization, strong operating performance exhibited by its positive return measures and its conservative loss reserving philosophy.

According to A.M. Best’s recent report, the positive rating factors are based on the company’s long-term commitment, service and focus to medical care providers in the states of Connecticut and Massachusetts, as well as its extensive knowledge of the evolving medical professional liability environment in which it operates.

“We are very pleased with A.M. Best’s reaffirmation of our A- (Excellent) rating,” said Denise Funk, chief executive officer of CMIC. “Our policyholders can be confident that during these difficult economic times, their chosen insurance carrier is strong, healthy and formidable in the event they call upon us.”

In 2009, CMIC experienced positive financial results and continued membership growth. As a result, policyholders benefited from the sixth year of stable premiums and an increase in loss experience credits by adding a new layer of credit for those insured with CMIC for a minimum of three consecutive years.

“Continued financial stability makes it possible to share positive results with our members by keeping premiums stable, increasing premium credit eligibility and providing opportunities to earn additional premium reductions,” said Wendy Barclay, CMIC’s manager of corporate communications. “We have returned $30 million to our policyholders since 2003.”

A.M. Best, a full-service credit rating organization, bases their ratings on a comprehensive quantitative and qualitative analysis of a company's balance sheet strength, operating performance and business profile. This includes comparisons to peers and industry standards as well as assessments of operating plans, philosophy and management.

The full A.M. Best report is available online at www.ambest.com. 

About CMIC
established as a mutual company in 1984, is a leading doctor-owned provider of professional liability insurance and services to doctors and healthcare professionals in Connecticut and Massachusetts. CMIC is headquartered in Glastonbury, CT and serves Connecticut and Massachusetts exclusively. For more information visit CMIC’s website at www.cmic.biz.

Media Contact:

Wendy Barclay
Manager of Corporate Communications

80 Glastonbury Boulevard
PO Box 71
Glastonbury, CT 06033
T: 860.633.7788 ext. 288
F: 860.633.8237
E-mail: wsb@cmic.biz

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