BETA Risk Management Authority Declares Another $10 Million Special Dividend

BETA Risk Management Authority’s (BETARMA) governing board, the BETA Council, has approved its fourth special dividend in the past 36 months bringing the total to over $43 million. “BETA Risk Management Authority continues to demonstrate its commitment to its mission by returning surplus funds to its current members,” said Tom Wander, BETA Healthcare Group’s (BETA) CEO. “Unlike commercial insurers, if BETARMA collects more contributions than we need to pay claims and fund operations, we return monies over time in an equitable manner. These dividends, coupled with our broad coverages and leading-edge services, make us the preferred risk financing solution for California healthcare facilities and physicians.”

Mr. Wander added that “this most recent special dividend will result in a payment of $10 million to our current members beginning in August 2014, to be paid out in four equal quarterly installments. These payments are in addition to the renewal dividend BETARMA has returned to current members for the past 21 consecutive years, which in 2013 will total $6.8 million. When you combine both dividends, the average BETARMA member saves an additional 33%. Thanks to outstanding financial results, the impact of our patient safety initiatives and the continuation of positive claim trends, BETARMA has an additional $44 million on its balance sheet designated for future dividends so current members can expect to be the beneficiaries of dividend payouts in the years beyond 2014.”

About BETA Healthcare Group

BETA Healthcare Group provides healthcare professional liability coverage to more than 150 hospitals and healthcare facilities in California. As the leading choice of liability insurers for California hospitals, BETA’s long-established commitment to California physicians continues to grow with more than 5,000 insured physicians and over 50 medical groups. Whether its hospitals, medical groups, clinics or hospices, 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.