Utah Medical Insurance Association Revenue

About Utah Medical Insurance Association

UMIA is a physician owned and directed medical liability insurance company. Practicing physicians are its foundation and strength. As UMIA enters its 28th year of service of the physicians of the Intermountain area, the vision of the future includes a dedication to: •Maximizing the value of the insured’s premium dollar •Reducing patient injury by improving patient care •Providing innovative leadership in fair patient compensation for culpable liability claims •Developing effective practice and risk management programs The Utah Medical Association started UMIA in response to a loss of affordable and available medical liability insurance because the commercial multi-line insurers providing coverage at that time withdrew from the market or raised rates astronomically. UMIA is a reciprocal inter-insurance exchange providing liability insurance in Idaho, Montana, Utah, and Wyoming. UMIA is financially strong with assets at 185.9 million and 43.1 million in surplus. The Company is rated (A-) Excellent by the AM Best Company and has held this rating for many years. A major strength is the leadership provided by the Board of Directors and Board of Governors, both comprised of practicing physicians who understand the needs, trends, concerns, and pressures of current medical practice. Competent and responsive service to policyholders had been and remains the essential element of the Association’s mission and success. Risk management and loss prevention activities remain a high priority.

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