Louisiana Medical Professional Liability Insurer Announces 10% Dividend

Louisiana Medical Mutual Insurance Co. (LAMMICO), based in Metairie, announced a sixth consecutive dividend for all LAMMICO policyholders in Louisiana and Arkansas. The announcement affects just over 6,000 policyholders, who will receive a 10 percent dividend of a policyholder’s written premium early next year.

The total dividend declared is approximately $5.1 million. LAMMICO’s dividend plan was approved by the Louisiana Department of Insurance on Dec. 6, 2012.

A 10 percent dividend was also declared in 2011, 2010 and 2009, preceded by two separate 20 percent dividends that were declared in 2008.

All LAMMICO policyholders in Louisiana and Arkansas (including individual physicians and other health care professionals, groups and healthcare facilities) holding a LAMMICO policy in force as of Dec. 5, 2012, will receive dividend checks during the first quarter of 2013.

Source: LAMMICO