Policyholder ownership not only drives LAMMICO’s operating principles, but it also results in financial returns on our insureds’ partnerships with the Company. On December 1, 2021, the LAMMICO Board of Directors declared a 3.5% dividend, marking the 15th consecutive dividend since 2008.
This dividend will equal 3.5% of the LAMMICO written premium to policyholders of record as of December 1, 2021*. This totals approximately $1.83 million and brings the total amount of dividends returned since 2008 to more than $63 million. The dividend will be paid to individuals, groups and healthcare facilities holding a LAMMICO policy in force as of December 1, 2021. Dividend checks will be distributed during the first quarter of 2022.
Important Note: Changing the Recipient of the Dividend Check
LAMMICO will make all dividend checks payable to the policyholder unless LAMMICO is otherwise notified. Some insureds request that dividend checks be made payable to entities other than the named policyholder; in these situations, legal written documentation is required.
If this dividend check should be issued payable to a group / hospital / employer / corporation / individual other than the named policyholder, please download the 2021 Dividend Payee Form. It is important that this form be completed and submitted to LAMMICO no later than February 1, 2022 (prior to the checks being issued). If, however, you need to make a request subsequent to receiving your check, the form must be submitted prior to the negotiation of the check. Once the check is negotiated, LAMMICO can make no further corrections to the payee. Please return the form to LAMMICO via email to Sherri Pitre at firstname.lastname@example.org (preferred), fax to 504.841.5301 or mail to LAMMICO, attention: Sherri Pitre.
*Excluding medical student and tail policies, and is not applicable to the insureds or clients of LAMMICO subsidiary or affiliate companies