Our Claims Department always looks forward to providing outstanding service to our insureds. The attorneys in the department are all lawyers who were formerly in private practice. They are there for our insureds when things go wrong.

In reviewing our claims experience for 2019, increased claims severity was our primary concern. Across the board, insurance companies are experiencing a significant increase in severe losses with large firms. Here, the higher severity was driven by claims in general business litigation and general business commercial. Although claims severity increased in 2019, claims frequency remained steady. Residential real estate and plaintiff’s personal injury were the two practice areas in which we received the most claims in 2019, followed by family law and estates and trusts.

This year, the Claims Department looks forward to continuing to serve and be a resource for our insureds.

Protection that counts involves more than issuing a policy to a single policyholder. Protection that counts is providing stability to all our policyholders. The underwriting department maintains the Company’s stability for all policyholders by responsibly accepting risk and pricing the risk.

In order to do better, we have to stand out and interact. The Underwriting Department worked with Client Services to launch the LM Value Campaign to highlight the services that we provide our policyholders and the value of coverage with a mutual insurance company.

In 2019, we distributed surveys to a random selection of policyholders to see what we are doing well and what we can do better. One thing we learned: our insureds would like an online platform to improve their ability to conduct business with us.

Our Client Services Team brings value to our policyholders every day.

From traveling across the state with the CLE Roadshow to generating alerts on developing legal trends to answering risk management questions by phone, we are responsive to the needs of our insureds and meet them in their communities. We guide them through the challenges of running a law practice in today’s complex world. We share our risk management expertise. We help keep them safe and successful.

In 2019, we placed special emphasis on digital marketing communications. Through platforms like LinkedIn, Twitter, Facebook and Instagram, our strategic messaging is reaching a new generation of lawyers in addition to our valued insureds.

For 2020, the Client Services Department looks forward to executing our mission of providing education and resources to help our insureds better serve their clients and the public.

Our Accounting and Finance Team strives to make efficient use of policyholders’ premiums and to timely administer claims payments when needed. When prudent, and with the Board of Directors declaration, it is the Accounting team’s pleasure to return funds to policyholders in the form of policyholder dividends.

Going forward, the Accounting and Finance Team will continue to fulfill the daily requirements of cash disbursements, receipts, tax returns, supplying analytical analysis and financial statements while always looking for better more efficient ways to accomplish them.

Our Enterprise and Operational Risk Management Team operates largely in the background with tasks such as maintaining the technology and security programs, supporting other departments through business analytics, and developing and testing policies and procedures to maintain operations through unexpected events.

In 2018 we focused on presenting information in newsletters, blogs, and CLEs about the emerging cybersecurity threats faced by law firms. Building on that during the past year we presented additional programs about how to begin addressing cybersecurity and decrease your potential for becoming a victim – all without spending a lot of money.

By continuing these discussions together, we create a culture of security and preparedness - giving us all protection that counts.