Great Doctors Produce Great Results ($500,000 in Dividends): Healthcare Underwriters Group of Florida Pays Its First Cash Dividend to Its Insured Owners
DANIA, Fla., Oct 15, 2008 (BUSINESS WIRE) — Healthcare Underwriters Group of Florida (HUFL), a medical liability insurance company licensed and operating in Florida that is owned and governed exclusively by Florida physicians, announced today that it will pay its first cash dividends to its policyholders/owners. This action was approved by HUFL’s Subscribers Advisory Committee/Board and the Florida Office of Insurance Regulation after the company achieved outstanding loss results for the 2005 policy year.
HUFL’s Chairperson, Steven Shapiro, M.D. says: “This dividend to our policyholders/owners is further proof that great doctors produce great results and also reflects HUFL’s strong financial position and confidence in the company’s future.”
HUFL’s vision and focus is to stabilize the volatile professional liability insurance market and ensure steady growth through a combination of disciplined underwriting and vigorous claims defense. The Company is financially strong and committed to keeping Florida doctors in control of their professional liability insurance.
According to HUFL’s President, Edward Feller, M.D., “Insuring the right doctors, fighting claims aggressively and managing conservatively is what gives HUFL the results that deliver rate stability to its policyholders and provides predictability in a time of uncertain market conditions and challenges.”
Currently, HUFL is having an excellent year despite a softening market. Losses that remain consistently lower than anticipated can be attributed mainly to the company’s exceptional policyholders, who are practicing excellent medicine and referring quality physicians to their company. When HUFL’s experience is better than anticipated in the future, it will seek to return a portion of the savings to its policyholders, in the form of another dividend.
The HUFL Insurance model
HUFL is a non-profit insurance reciprocal owned exclusively by its insureds/subscribers, Florida doctors. HUFL insures practicing physicians throughout Florida and in all medical specialties. HUFL’s highly experienced management team has a zero tolerance for nuisance claims and aggressively defends its physicians.
For more information, call 866-484-5715 or visit www.HUgroupFL.com.
SOURCE: Healthcare Underwriters Group of Florida
Copyright Business Wire 2008