Lawyers Mutual Liability Insurance Company of North Carolina has declared a $1 million dividend, equal to approximately 6% of the premium charged on insurance policies issued in 2012. This dividend, which will be paid at policy expiration, will represent the ninth time since 1999 that Lawyers Mutual has declared and paid a policyholder dividend.
President Dan Zureich had this to say about the dividend, “Recent years have been difficult for both our insureds and us. However, we are pleased to report a successful year despite these difficulties and to be able to share our success with our loyal policyholders. Sharing in the financial success of Lawyers Mutual is a major benefit of our structure, and this dividend is consistent with our goal to return capital to our policyholders when financially prudent.”
Thirty-five years ago, a group of North Carolina lawyers showed vision in creating Lawyers Mutual. Today, the Company is a stable and secure source of insurance for the attorneys in the state.
Ken McAllister, Chairman of the Lawyers Mutual Board of Directors stated, “We value the loyalty of our insureds. Sharing the Company’s success with our policyholders is one way to reward that loyalty. We are proud to be a mutual company owned by North Carolina lawyers.”
About Lawyers Mutual Liability Insurance Company of North Carolina
Lawyers Mutual, founded in 1977, is the first mutually owned insurance company for lawyers in the country. Lawyers Mutual is the only company that has provided continuous coverage to North Carolina lawyers during that time. Its reputation for leadership, professionalism and commitment to its attorneys has become a standard for other malpractice insurance providers. The mission at Lawyers Mutual is not only to protect North Carolina lawyers with the best possible financial coverage against professional liability, but also to provide education and risk management resources to help them better serve their clients and the public.