Favorable loss experience has enabled M.U.S.I.C. to use equity to generate investment income to help offset premiums and losses. Each university has two principle members who actually participate in the operation of M.U.S.I.C. and represent their university. These participants serve on various committees, such as Underwriting, Finance, Legal, Strategic Planning, Claims and Loss Control, and they serve as officers of the corporation. M.U.S.I.C. also uses service providers to handle the day to day administrative issues, such as claims handling, corporate counsel, brokers, financial management, and actuarial services. Since M.U.S.I.C. was formed only for the benefit of Michigan s participating four-year universities, its coverage is designed specifically to meet their unique needs.
Coverage is much more broad and prices are more stable than what is available commercially.
Another benefit derived is that M.U.S.I.C. provides a mechanism for identifying problems and solutions unique to the university setting.