Louisiana-based medical professional liability insurer, LAMMICO, announced that its board of directors’ Dec. 10 declaration of a dividend has been approved by the Louisiana Department of Insurance. This marks the eighth time since 2008 that LAMMICO has authorized the payment of a dividend to its policyholders, the mutual owners of the company.
This dividend will equal 5 percent of the LAMMICO premium to policyholders of record (excluding medical student and tail policies) as of Dec. 10, 2014. This totals approximately $2.6 million and will be paid to individuals, groups and healthcare facilities holding a LAMMICO policy in force as of Dec. 10, 2014.
Including this year’s dividend, LAMMICO will have returned a total of over $45 million to our insureds.
Dividend checks will be distributed during the first quarter of 2015.
LAMMICO is licensed in Louisiana, Arkansas, Mississippi and Texas.
Source: LAMMICO
Topics Louisiana
Was this article valuable?
Here are more articles you may enjoy.
Georgia Teacher Killed When Toilet Paper Prank by Students Goes Wrong 
Chubb to Serve as Lead US Insurer for Gulf Shipping Amid Iran War 
Travelers Stranded by War Learn Insurance Won’t Cover Flight Cancellations 
Prices for New Cars Have Soared. Here’s One Big Reason Why 
