A brief look at our history
All commercial “for profit” insurance providers discontinue medical liability coverage in Utah. Subsequently, approximately 800 physicians across the state form an insurance exchange to provide liability coverage sensitive to the needs of its members. This is the beginning of UMIA (Utah Medical Insurance Association).
Minnesota Medical Insurance Exchange (MMIE), the precursor to Midwest Medical Insurance Company (MMIC), begins in response to the medical professional liability insurance (MPLI) crisis of the mid-1970s. At that time, MPLI was only available through commercial insurers. With rising premiums and shrinking availability, a concerned group of Minnesota physicians and the Minnesota Medical Association joins together to establish and fund a Minnesota-based, physician-owned MPLI company—MMIE.
MMIE becomes Midwest Medical Insurance Company (MMIC), and a holding company, Midwest Medical Insurance Holding Company, is created. MMIC receives its first A.M. Best rating, “B+.” The company is becoming a well-known and respected member of the MPLI community.
MMIC earns its first A.M. Best “A” rating.
Arkansas Mutual is founded, again out of the need to support physicians as other large carriers exit the state.
The holding company is renamed MMIC Group, Inc., and the insurance company is renamed MMIC Insurance, Inc. Planning begins to change the corporate structure to a mutual insurance holding company.
Approval from members and the board is granted to reorganize the existing company into a mutual insurance holding company, MMIC Group, Inc.
MMIC RRG, Inc. is created.
Utah Medical Insurance Association (UMIA) joins with MMIC to become a member of the Constellation mutual holding company and is renamed UMIA Insurance, Inc.
MMIC RRG, Inc. changes its name to MMIC Risk Retention Group, Inc.
The mutual insurance holding company, MMIC Group, Inc., is rebranded to Constellation®.
Arkansas Mutual Insurance Company joins MMIC and UMIA as a member of the Constellation mutual holding company. Arkansas Mutual also receives “A” rating from A.M. Best.
UMIA receives “A” rating from A.M. Best.
InsureCAREteams™ is formed to provide digital delivery of MPL insurance to dentists.
The Constellation Aligned Performance Initiative (CAPI) launches, welcoming the Baldrige organization as its first strategic collaborator.