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FOR IMMEDIATE RELEASE
The CMIC Board of Directors is Declaring a Special Dividend for CMIC Members and Deferring Premium Payments for Both CMIC and RRG Members
GLASTONBURY, CT – March 25, 2020 – CMIC Group, a leading member-owned medical professional liability insurance company, has announced that the Board of Directors has declared a special dividend which totals $5 Million for CMIC policyholders. The dividend is being distributed to help support their healthcare providers through the challenges created by the COVID-19 outbreak. The Company is also deferring all premium payments currently due until June 30, 2020.
“The challenges facing the world, and more acutely, medical providers, due to this global crisis are unprecedented,” said Stephen J. Gallant, CEO of CMIC Group. “As a carrier that has spent the last 35 years supporting our policyholders, we are doing all we can to help alleviate some of the strain facing these dedicated professionals and provide some relief to their medical practices.”
The Company has been in recent contact with many of its policyholders and is working on a variety of coverage options and considerations in response to the evolving challenges faced by medical professionals on the frontlines of this pandemic.
“As a Company, we have the utmost gratitude for the tireless efforts of our healthcare providers during this ordeal,” said Mr. Gallant. “We want our policyholders to know that CMIC Group is here to support them through the challenges ahead.”
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
Senior Business Development Representative
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