Policyholder-ownership not only drives LAMMICO’s operating principles, but it also results in financial returns on our insureds’ partnership with the company. On December 7, 2016, the LAMMICO Board of Directors declared a 5% dividend, marking the 10th consecutive dividend since 2008.
In 2016, it was determined that the company’s loss experience for prior years was more favorable than originally estimated, which resulted in a reduction to the company’s claim reserves. LAMMICO is passing these savings on to policyholders in the form of a dividend which totals approximating $2.6 million. This brings the total dividends returned since 2008 to almost $54 million. The recently declared dividend will be paid to individuals, groups and healthcare facilities holding a LAMMICO policy in force as of December 7, 2016 (excluding medical student and tail policies).
Dividend checks will be distributed during the first quarter of 2017. If your check should be made payable to a recipient(s) other than the named policyholder, please call Sherri Pitre in the LAMMICO Finance Department at 800.452.2120. Learn more at www.lammico.com/dividend.