MLMIC Updates FAQs With Latest on Berkshire Hathaway Transaction
UPDATE: As of October 2, 2018, the closing of the transaction with Berkshire Hathaway has been finalized. Please visit the official announcement to read about the closing or click here for additional details.
In an effort to keep our policyholders up to date on the Berkshire Hathaway transaction, and to address questions we often get on our hotline, we have updated the information on the FAQs, which you can find here.*
Specifically, we have updated the following:
- Question 5: We responded to the commonly asked question of who receives cash consideration if the eligible policyholder designates a Policy Administrator, or is a designated Employer on an Employee Professional Liability Insurance Policy.
- Question 13: Also, we now expect the transaction to close in the first quarter of 2018, due to ongoing, diligent review by DFS of the information required under NYIL 7307, which is designed to protect the interests of the policyholders and the public.
As always, if you have additional questions, please call 1-888-998-7871 from 9 a.m. to 4 p.m. on weekdays.
*MLMIC is no longer updating the FAQs for the Berkshire Hathaway Transaction. Please click here for the most current information.