Low rates by design

"Nose" | "Tail" | New Physicians | Part-Time | Group Practices

Our rates are based on analysis by our consulting actuaries. The actuaries recommend rate changes to our all-physician Board of Governors, based on prior years' claims experience, industry trends, administrative and reinsurance costs and premium taxes applicable in each state where we provide coverage . In most states, rates must be submitted to the Insurance Commissioner for approval before they can be used.

For our current rates, use our Premium Calculator. Remember: while the premium figure is likely to be the amount we charge, the offer of coverage is only possible after we review and approve your application.

NOTE: While the following insurance terminology is important, we understand it can be confusing. Email or call us at 800-227-4527 and we’ll be glad to answer your questions.

“Nose”/ Prior Acts: If you are joining MIEC and are currently insured by another claims-made carrier, we offer “prior acts” coverage as an option that will provide you insurance for previously unknown and unreported claims arising from your practice while insured with the other company.

“Tail”/Extended Reporting: The alternative is to purchase “tail” coverage. In this instance, in return for an additional premium payment, your current insurance carrier will continue to be responsible for unknown and unreported claims and your premiums with us will be much reduced.

In our experience, it is usually less expensive to purchase prior acts from us rather than purchase tail coverage from your previous carrier. As with all insurance, the offer of prior acts coverage is subject to our underwriting review and approval.

To determine your premium with prior acts on our Premium Calculator, click “prior acts” and select the date you first began claims-made coverage with your previous or current carrier. The program will work out the rest based on the number of years that you have been continuously insured by the other claims-made company.

NOTE: If you are insured on an “occurrence form”, you will not need to worry about Tail/Prior Acts because that form of coverage already protects you from unknown claims .

New Physicians: Just out of residency, fellowship or military service? MIEC offers you three years of discounted rates as you begin to establish your practice. Under our current program we reduce rates 50% in your first year of private practice, 30% in your second year, and 15% in your third. Go to the Premium Calculator or fill out an application.

Group Practices: Groups of at least 20 MIEC insured physicians or with at least $150,000 in annual premium and who have excellent claims experience over the past five consecutive years may qualify for a discount of up to 25%. All rates are subject to our review and approval. Request a group estimate.


25% Physicians in Class 1 (psychiatrists and allergists) who practice less than 20 hours per week.
50% Physicians who do not perform or assist at surgery and practice under 20 hours per week with commensurate reduction in patient volume and practice activity.
60% Physicians in Class 1 (psychiatrists and allergists) who practice less than 10 hours per week.
Up to 75% Physicians who practice less than 10 hours per week.


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