HUFL to pay its second consecutive annual cash dividend to its policyholders/owners

Oct 20 2009

In the midst of a global economic tsunami, a Florida based medical malpractice insurance company is demonstrating that conservative management, excellent sales delivery, aggressive defense of its insureds and strict underwriting can provide outstanding results even in the most difficult of times (and without government subsidies).

Healthcare Underwriters Group of Florida (HUFL), a medical liability insurance company licensed and operating in Florida that is owned and governed exclusively by Florida physicians, announced today that it will pay its second consecutive annual cash dividend to its policyholders/owners. This action was approved by HUFL’s Board after the company achieved outstanding loss results for the 2005 and 2006 report years due in part to very good loss experience.

According to HUFL’s Chairperson, Steven D. Shapiro, MD: “This dividend to our policyholders/owners is once again proof that that in 2009 great doctors produce great results and also reflects HUFL’s strong financial position and confidence in the company’s future.”

The Company is financially strong and committed to keeping Florida doctors in control of their professional liability insurance. Insuring the right doctors, fighting claims aggressively and managing conservatively is what continues to give HUFL the results that deliver rate stability to its policyholders and provides predictability in a time of uncertain market conditions and challenges.

“Most of HU’s competitors made big bets with their investments placing their doctors’ money at considerable risk. Our Company invested its doctors’ hard earned dollars conservatively so that those dollars will be there for the purpose intended – to protect our physician insureds,” HUFL’s President, Edward Feller, MD., observed.

Currently, HUFL is having an excellent year despite a continuing soft market. Losses that remain consistently lower than actuarially projected can be attributed mainly to the company’s exceptional policyholders, who are practicing excellent medicine and referring quality physicians to their company.

Source: Healthcare Underwriters Group of Florida