Lawyers Mutual is pleased to report that 2011 was another successful year, culminating in declaration of a 6% dividend payable to our policyholders of record as of December 31, 2011. (Please note that the dividend will be paid in 2012 upon expiration of your 2011 policy). We know that recent years have been challenging for our insured lawyers, but sincerely hope that 2011 was also a good year for you and your practice.
We believe that our success is attributable to the fact that we continue to be guided by the principles under which we were founded some 35 years ago:
- To provide a stable and consistent professional liability insurance market for North Carolina attorneys;
- To provide industry-leading service; and
- To provide the best possible coverage for the lowest sustainable cost.
Our mission is not to be the cheapest source of insurance, but to ensure that our rates allow us to remain financially viable. And when we believe we have more capital than necessary to support our operations, we are able to return it to you, our policyholders, in the form of dividends.
What speaks most loudly to me about what Lawyers Mutual stands for are the comments of some insureds who left us for the allure of lower premiums. Many are returning for service-related reasons. One lawyer who recently returned said it very succinctly, “you get what you pay for.” We take great pride in the level of service that we provide, but are committed to you to do even better. We already allocate a greater percentage of our resources to services such as claim prevention and repair than our competitors, but are not stopping there. We continue to search for new and better ways to serve you, our valued policyholders.
Daniel M. Zureich, J.D.
President and CEO