Healthcare Underwriters Group Mutual of Ohio Pays Its First Cash Distribution to Its Insured Owners
COLUMBUS, Ohio (Business Wire EON) July 1, 2008 — Healthcare Underwriters Group Mutual of Ohio (HUOH), the only medical liability insurance company operating in Ohio that is owned and governed exclusively by Ohio physicians, announced today that it will make its first cash distribution to its policyholders. This action was approved by the Board of Directors after the company achieved outstanding loss results for the 2004 and 2005 policy years, closing both years without a single paid loss.
HUOHâ€™s Chairperson, Gary Birnbaum, MD says: â€œThis distribution to our policyholders is further proof that great doctors produce great results and also reflects HUOHâ€™s strong financial position and confidence in the companyâ€™s future.â€?
HUOHâ€™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 defense. The Company is financially strong and committed to keeping Ohio doctors in control of their professional liability insurance.
According to HUOHâ€™s President, Howard Dickey-White, MD: â€œInsuring the right doctors, fighting claims aggressively and managing conservatively is what gives HUOH the results that deliver rate stability to its policyholders and provides predictability in a time of uncertain market conditions and challenges.â€?
Currently, HUOH is having an excellent year despite a softening market. Losses that remain consistently lower than average can be attributed mainly to the companyâ€™s exceptional policyholders, who are practicing excellent medicine and referring quality physicians to their company.
The HU Insurance model
HUOH is a non-profit mutual insurance company owned exclusively by its insureds, Ohio doctors. HUOH insures practicing physicians throughout Ohio and in all medical specialties. HUOHâ€™s highly experienced management team has a zero tolerance for nuisance claims and aggressively defends its physicians.
For more information, call (866) 484-5717 or visit www.HUgroupOH.com.