Minnesota Lawyers Mutual Insurance Company (MLM)
Company Overview
- Name: Minnesota Lawyers Mutual Insurance Company
- Mission: To provide lawyers’ professional liability insurance and risk management services for the legal community, focusing on quality service and financial stability.
- Founded: Over 40 years ago.
- Founders: No information is available.
- Key People: R. Bertram “Bert” Greener was the Chairman of the Board from MLM's inception in 1981 until September 2019.
- Headquarters: Minneapolis, MN
- Number of Employees: No information is available.
- Revenue: No information is available.
- Known For: Specializing in lawyers’ professional liability insurance and risk management services.
Products and Services
- Products Offered:
- Lawyers’ Professional Liability Insurance
- Risk Management Services
- Defense Program
- ADR Policy
- Judicial Disciplinary Policy
- MLM Surety
- Online Education Programs
- Sample Policies
- High-level Description:
- MLM provides insurance specifically tailored for legal professionals, including various policies, risk management services, and educational resources aimed at supporting the legal community.
- Key Features:
- Ownership: MLM is a policyholder-owned mutual company, returning profits in forms of dividends.
- Stability: Rated as "A" (Excellent) by AM Best with a stable outlook.
- Direct Writer: Direct engagement with clients avoiding intermediaries.
- Expert Claims Handling: Utilizing top local defense counsel for efficient claim processing.
- Risk Management Services: Comprehensive support for preventing and managing claims.
- Expert Service: High-quality customer service and convenient online access for policy management and purchasing.
Recent Developments
- Financial Ratings:
- MLM's financial strength has been affirmed by AM Best as "A" (Excellent) for 2024 with a stable outlook.
- Dividend Payments:
- MLM has announced a $3.5 million dividend to eligible policyholders for 2023. The company has provided consecutive annual dividend payments since 1988, totaling over $80 million.
- Diversity and Inclusion Initiatives:
- MLM has contributed to the ABA Legal Opportunity Scholarship Fund, adding six additional scholarship awards, honoring the legacy of former Chairman R. Bertram “Bert” Greener.
- Geographical Coverage:
- MLM offers its insurance products and services in numerous states including AL, AK, AZ, CO, FL, GA, among others listed in their coverage map.
- Online Services:
- Enhanced online services for policy management, claim reporting, and educational resources to better serve the legal community.
No new product launches or new feature additions to existing products were specified. No details on new partnerships were provided.
