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Florida Lawyers Mutual Insurance Company

Florida Lawyers Mutual Insurance Company became operational in 1989.The Company joined together with other Bar related insurance companies to form Lawyers Reinsurance Company, a Vermont captive reinsurance company. The formation of this company is the logical extension of the vision all the Bar related companies had when they were formed, also in 1997 the company was able to suspend the requirement that lawyers purchase surplus certificates as a condition of insurance.
Florida's Lawyers Mutual Insurance Company was faced with a real dilemma. The insurance market saw a sharp rise in premiums for professional liability protection; and even worse, some attorneys were unable to find a carrier that would provide coverage for their area of practice. Most hard hit were those lawyers or firms practicing in the areas of personal injury plaintiff, real estate, and securities. With carriers refusing to write, or leaving the state, The Florida Bar, followed the lead of other states by creating its own carrier, Florida Lawyers Mutual Insurance Company Florida Lawyers.
The company's primary objective is to provide to qualified Florida lawyers a financially sound, stable and long term alternative to that offered in the commercial professional liability market. The company is owned by its insured Florida lawyers. And by limiting its business to the writing of professional liability insurance for Florida lawyers, only claims against attorneys in Florida will affect the company's loss experience.
The mutual form of organization was chosen for the company because the policyholders elect the board of directors. It should be emphasized that the underwriting standards for the company are consistent with sound insurance practices that rates charged by the company are established to ensure the company's long term viability, and that claims are administered in accordance with accepted insurance claims standards.

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