Medicus Insurance, providers of liability insurance for medical professionals, has announced that it will be lowering its rates in six states across the country – Arizona, Kansas, Nevada, Ohio, Virginia and its home-state Texas.
The company operates in 24 states throughout the nation. The move to reduce rates is part of an overarching effort to promote their green initiative. In the coming years, Medicus hopes to make each of its offices paper-free, relying on digital mediums to do business.
Each state is subject to its own, specialized rate reductions. In Arizona, Medicus is lowering their rates by 19%. Kansas follows closely behind with a reduction of 15%. Each other state will see lowered rates by an average of 9%.
The company cites its “Go Green” initiative as the primary reason behind the rate decreases. As business transactions move further into the digital realm, office costs are falling, enabling the company to extend some of its savings to its clients. Medicus also announced a new ACH payment option for their clients. The system will allow policyholders to make several large credit or debit transactions at a single time, saving the company time and paper in processing.
Insurance companies around the world are finding that making simple, environmentally friendly changes to their operations is a good way to save a significant amount of money. With environmental issues becoming a major concern, more companies may follow Medicus’ example.