Medical Malpractice Insurance News

MLMIC policyholders and their staff have exclusive access to the MLMIC Resource Center, which can access a wide variety of current healthcare reference materials on your behalf and promptly provide these research findings to you.

1099-B tax forms for recipients of cash consideration from MLMIC’s acquisition by National Indemnity Company will be sent on February 25 via Computershare. The mailing will contain an explanatory insert and a 1099-B tax statement required by the IRS.

MLMIC asks any objectors or Eligible Policyholders currently involved in an unresolved dispute over cash consideration to read the recent Order from the Superintendent of the New York State Department of Financial Services and review your obligations, available options and the future status of the cash consideration held in escrow.

MLMIC’s Q3 financials show continued strength and stability for New York’s leading medical liability insurer. In a consistently challenging insurance marketplace, it is reassuring to know that MLMIC is sound and ready to serve its policyholders.

MLMIC will provide and pay for a voluntary dispute resolution process to address any cash consideration in dispute between eligible policyholders and objectors following the closing of the Berkshire Hathaway transaction.

MLMIC announces the official completion of its conversion from a mutual company to a stock company and its acquisition by National Indemnity Company, a subsidiary of Berkshire Hathaway. The cash consideration resulting from the conversion will be paid out to eligible policyholders as promptly as practicable.

By a vote of 6,635 out of 6,979, the Plan of Conversion and Amended and Restated Charter were approved by the Record Date Policyholders in accordance with Section 7307 of the New York Insurance Law.

MLMIC’s Q2 financials show continued strength and stability for New York’s leading medical liability insurer. In a consistently challenging insurance marketplace, it is reassuring to know that MLMIC is sound and ready to serve its policyholders.

MLMIC has always recognized that eligible policyholders have the right outside the plan of conversion to assign their right to receive their allocable share of the cash consideration. MLMIC will honor any properly drafted and signed assignments that it receives from eligible policyholders on a timely basis.

In the proposed transaction with Berkshire Hathaway, MLMIC announces an important clarification on the description of the extraordinary dividend to NICO.