Lawyers Mutual Liability Insurance Company of N.C.
Lawyers Mutual Liability Insurance Company of N.C. is a small insurance company based in Cary, North Carolina, specializing in malpractice and professional liability insurance for lawyers. Founded in 1977, it serves over 8,000 attorneys and emphasizes mutual support and risk management education within the legal community.
Company Overview
Lawyers Mutual Liability Insurance Company of N.C. is a small business located in Cary, North Carolina. Founded in 1977, the company specializes in providing malpractice and professional liability insurance exclusively for North Carolina lawyers. With a team size of 30, it serves over 8,000 attorneys, emphasizing a community-oriented approach with the mission 'Lawyers Helping Lawyers.' The company focuses on mutual support among attorneys and aims to enhance the legal profession through education and risk management resources.
Specialties
The company offers a range of specialties including Claims Repair, Risk Management, Legal Education, and various forms of liability insurance such as Malpractice Insurance, Professional Liability, and Counselor Liability. It also provides services tailored to North Carolina Legal Claims and Real Estate Attorneys. Additionally, the company emphasizes claims prevention education and offers resources to help lawyers manage their practices effectively.
Services Offered
Lawyers Mutual provides a variety of services aimed at supporting legal professionals. These include free risk management resources, a lending library, and practice guides. The company offers Continuing Legal Education (CLE) as a member benefit and provides law practice management consulting services. It also features a Claims Repair program to address errors and mitigate damages, as well as a HELP Team for emergency legal issues.
Financial Stability
Lawyers Mutual maintains a strong capital base and financial stability, which allows it to return significant dividends to policyholders. Since 2011, the company has returned nearly $12.3 million in dividends and declared a policyholder dividend for the thirteenth consecutive year. The policyholder retention rate stands at 90.5 percent, reflecting the company's commitment to its clients.
Technology and Resources
The company has developed various technological resources to enhance policyholder experience. This includes the LM Portal for accessing policy information and forms, as well as a new LM Web Portal for viewing policy details, downloading documents, and making payments online. Additionally, Lawyers Mutual offers cybersecurity risk assessments and heatmap monitoring to help lawyers protect their practices.