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.
Two Years in, Ortiz Steps Down as CEO of Florida Re 
Q2 Net Income at Travelers Soars 46% on Less Catastrophes, Favorable Reserves 
Florida Regulators Mulling New Rules on Market Conduct Exams, Reporting 
Air Taxi Service Across Parts of Florida Moving Closer to Reality 
