Awards & Recognition
AM Best Awards LAMMICO an "A" Rating
LAMMICO's financial strength rating is"A" (Excellent) by AM Best Company after 20 consecutive years of maintaining an "A-" (Excellent) rating. The world’s oldest and most authoritative source of insurer financial performance assigns the "A" rating to companies that have, in Best's opinion, an excellent ability to meet their ongoing insurance obligations.
The ratings also apply to LAMMICO's sponsored LAMMICO Risk Retention Group Inc. The outlook for all ratings is currently stable.
What does this mean for policyholders?
LAMMICO insureds can continue to practice with confidence – confidence that coverage is stable, that legal defense is aggressive, and that reputations will be upheld with a long-standing medical professional liability insurance partner like LAMMICO.
An "A" rating is reflective of LAMMICO’s steady surplus growth, strong capitalization, strong operating results and conservative loss reserving philosophy. This recognition reflects the continued commitment of your Company’s Board of Directors, management and staff to be a financially strong and stable medical professional liability insurance carrier.
The Significance of Financial Ratings
LAMMICO received its first A- (Excellent) rating from Best in 1994 based on the company's financial results in 1993. At that time, it was a remarkable achievement for an insurance carrier to receive such a high grade on its very first rating. In 2014, Best revised our rating outlook to positive from stable while affirming LAMMICO's financial strength rating of A- (Excellent). The revision of the rating outlook was a necessary first step in order for LAMMICO to receive an upgraded rating from Best.
LAMMICO’s financial picture shows we are achieving exactly what we believe our insureds should expect from Louisiana’s oldest - and largest - provider of medical professional liability insurance. And we will continue our focus on providing the same security to our insureds in Arkansas and other neighboring states. As fellow colleagues, you have our commitment to remain efficient and effective, while being flexible to meet your evolving needs.
Learn More About "A" Rated LAMMICO
Healthcare providers, hospitals, and facilities interested in applying for LAMMICO coverage can contact a regional Marketing Representative at 800.452.2120.