ALAMO, Calif.--(BUSINESS WIRE)--BETA Risk Management Authority (BETARMA) announces that the BETA Council has approved member dividends of $15.7 million for the 2021/2022 contract year, to be paid in two installments as part of the July 1, 2021 renewals. This year’s dividend is the result of BETARMA’s strong financial performance in 2020. Since 1992, BETARMA has cumulatively returned $210 million in dividends to its eligible healthcare facility members, an amount unsurpassed by any hospital professional liability insurer doing business on the West Coast.
“True to our organization’s mission, BETA Risk Management Authority continues to share a substantial portion of our financial upside with members in the form of dividends,” said Corey Grove, BETA Healthcare Group’s CEO. “Dividends have been a consistent benefit of buying coverage through our member-governed program and we are pleased to distribute dividends to our members for the 29th consecutive year.”
Members qualify for annual dividends based on premiums paid during the contract year and favorable claims experience. A multi-line dividend is paid to members who purchase both the Healthcare Entity Comprehensive Liability and Workers’ Compensation Coverage Contracts and renew both lines of coverage on July 1, 2021.
BETA Healthcare Group
BETA Healthcare Group (BETA) is the largest professional liability insurer of hospitals on the West Coast and provides a host of liability and workers’ compensation coverages to protect hospitals, health centers, clinics, hospices, medical groups, aging services, and physicians and other healthcare workers. Rated “A” (Excellent) by A.M. Best, BETA has earned a reputation for financial strength, rate stability, quality service and breadth of coverage that is unparalleled in the industry. For more information, please visit www.betahg.com.