FAQ - ISMIE Mutual Dividend Plan
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How will the individual amounts for a physician be determined?
- The amount in the dividend pool will be distributed to all eligible insureds and will be applied as a credit to each policyholder’s renewal premium. The dividend amount will be calculated from the policyholder’s “adjusted base premium” for the first million in coverage for the applicable policy year. “Adjusted base premium” is the manual rate adjusted for the insured’s claims-made maturity year factor, less any newly practicing discount, part-time discount or suspended coverage. It does not include any credits (such as loss-free, schedule rating, or Risk Rewards) or debits.
- The dividend will not cover allied health professionals sharing limits of liability with their employer.
- The dividend will include corporate and clinic entity policies as eligible insureds.
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