The History

In response to a nation-wide withdrawal of commercial medical liability insurers in 1978, the Utah State Medical Association leadership provided the structure and auspices leading to the formation of a reciprocal insurance exchange for its members under the laws of the State of Utah. Formation of the Exchange enabled physicians to provide a source of stable, physician-owned and directed liability coverage sensitive to the needs of its members. The Utah Medical Insurance Association (UMIA) legally began operations in December, 1978 with approximately 800 Utah physicians participating through payment of a subordinated loan and occurrence premiums. The Exchange is operated by USMA-IMC, an insurance management company directed by a CEO and a physician Board of Directors. The insured physicians of UMIA provide oversight and direction through the UMIA Board of Governors, physicians elected by the policyholders. The UMA Board of Trustees provides oversight and approval of the USMA-IMC Board of Directors.

In 1985, UMIA converted all policies from occurrence to claims-made. In recent years, UMIA added additional policy enhancements to meet the needs of the current practice environment. These additions include Medical Defense coverage, Employment Practices Liability coverage, e-MD coverage and a $5,000 No Fault coverage. Currently, UMIA insures 2,200 physicians in Utah, 620 in Montana, 335 in Wyoming and 40 in Idaho.