The board of directors of medical professional liability insurer, LAMMICO, has declared another dividend for all policyholders in Louisiana and Arkansas, marking the seventh time since 2008 the company has authorized the payment of a dividend to its insureds.
The dividend, which was approved by the Louisiana Department of Insurance, affects more than 6,000 insureds who will receive a 10.5 percent dividend of a policyholder’s written premium during the first quarter of 2014.
The 10.5 percent dividend declared totals approximately $5-million. A 10 percent dividend was also declared each year from 2009 through 2012, preceded by two separate 20 percent dividend declared in 2008.
All LAMMICO policyholders in Louisiana and Arkansas (including individual physicians and other healthcare professionals, groups and healthcare facilities) holding a LAMMICO policy in force as of Dec. 11, 2013 (with the exclusion of medical student and tail policies) will receive a dividend check early next year.
LAMMICO is a Louisiana-based company, owned by its policyholders.
Source: LAMMICO
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