The first voice you likely hear when you contact Lawyers Mutual is that of Joan Stanton, our very able receptionist for the past ten years. The next is likely to be one of our Underwriters. The Underwriting Department is the front line in Lawyers Mutual’s commitment to providing unparalleled service to our policyholders. Without exception, either the Vice President of Underwriting, one of our three Underwriters, or our Relationship Manager will be available to talk to you – whether you want to know the status of your application, need a copy of your declarations page, want to discuss your premium payment, or have a coverage question. We underwrite coverage for approximately 7,400 lawyers each year, but we are never too busy to take your call or answer your email.
The most exciting news this year is that all policyholders of record as of December 31, 2011, will receive a dividend upon expiration of their policy. Returning to this level of profitability was in large part due to the Underwriting Department’s efforts in improving risk assessment and selection, and in implementing a rating plan based on area of practice exposure and claims experience. Premiums are now largely based on our historical experience in each practice area. As a result, we are pleased to offer lower premiums for many policyholders, particularly those in lower risk areas of practice and those with little or no loss history.
Lawyers Mutual will always be here to provide fair, reasonable, and reliable insurance for lawyers in North Carolina. That is all we do, and we do it right. We know that your professional liability insurance is the most important investment you will ever make in your law practice. Our mission is to remain financially strong so that Lawyers Mutual will be here for you when you need us, today and in the future. And when we have a good year, as we did in 2011, we pledge to return capital to you, our valued policyholders, when financially prudent.