In 1987, our founders envisioned a company owned totally by Kentucky lawyers, dedicated to service, and committed to providing Kentucky lawyers with a stable malpractice insurance environment. We've worked hard to develop a strong financial base and have remained true to our motto: By Kentucky Lawyers; For Kentucky Lawyers. Here's how we started:
- A need was recognized in the mid-'80s when malpractice insurance premiums skyrocketed. Many commercial insurers stopped offering coverage in Kentucky.
- In 1986 the Kentucky Bar Association's Legal Malpractice Insurance Committee formed a sub-committee to study the feasibility of forming a domestic mutual insurance company to provide malpractice coverage to Kentucky attorneys. Lawyers Mutual, incorporated on September 3, 1986, evolved from that study.
- To obtain the necessary start-up capital, the company offered subscriptions for surplus certificates to attorneys licensed to practice in Kentucky. Completed in August 1987, the initial subscription period resulted in a little more than $3,000,000 of capital. Lawyers Mutual opened its doors for business on November 1, 1987.
Lawyers Mutual was established, with the help of the Kentucky Bar Association, to:
- Assure availability of professional liability insurance
- Meet Kentucky lawyers' responsibility to the public
- Foster competition in the insurance marketplace
Since our inception, Lawyers Mutual has been approved by the Kentucky Bar Association as the bar-related provider of professional liability insurance in Kentucky. We are also approved by the Louisville Bar Association and the Kentucky Academy of Trial Attorneys.
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