Policyholder Dividend Approved for Louisiana’s LAMMICO
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
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