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MLMIC’s 2016 Annual Report Now Available

In the opening letter to the 2016 Annual Report – which is available now on our website – MLMIC President Dr. Robert Menotti shared summary financial information with policyholders and highlighted some of the Company’s accomplishments. In 2016, for example, MLMIC:

  • provided meaningful financial relief to policyholders by offering a 20% dividend in 2016, the largest in MLMIC’s 40+ year history;
  • worked with our partners to educate elected officials about the adverse consequences of an expanded statute of limitations;
  • announced the intention to be acquired by Berkshire Hathaway, which will deliver a significant financial benefit to approximately 30,000 policyholders and enable us to continue to protect them with the high quality insurance they rely on; and

In addition, Dr. Menotti shared news of his pending retirement, noting he’d served as president for 10 years “relishing every minute of it.” Dr. Menotti will remain on the Board.

To read the letter in its entirety and access the full annual report with summary financial information, please click here.

Posted in Dentists, Hospitals, Physicians

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2 thoughts on “MLMIC’s 2016 Annual Report Now Available

  1. Alan Seltzer says:

    Below is the advice given to dentists by NYSDA and MLMIC. So why should I, a policy holder, be expected to vote for this business to be sold and converted from a mutual company to a stock company?

    xxxxxxx

    “MLMIC is the only dental malpractice insurer exclusively endorsed by the New York State Dental Association (NYSDA). As a mutual company, we understand and proudly serve the unique needs of dentists.”

    1. The transaction will convert MLMIC from a mutual to a stock company, but will not change its operating principles as it relates to its policyholder services, and that includes the operating principles of the NYSDA-MLMIC Program for Dentists. The transaction will also deliver a significant financial payout to policyholders beyond what MLMIC could do as a mutual company. For more information about the transaction, please visit: https://www.mlmic.com/mlmic-joins-berkshire-hathaway-faq/.

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