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Is Minnesota Lawyers Mutual a good company?

+4 votes
asked Nov 30, 2017 by anonymous

1 Answer

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Minnesota Lawyers Mutual is a top company in the legal malpractice insurance market. They provide lawyers with liability insurance and risk management. For 35 years they have provided high-quality service. MLM has succeeded in their mission to provide the best insurance policies for lawyers.

Created by lawyers to help lawyers, Minnesota Lawyers Mutual knows what their customers need. A.M Best, a United States rating agency for the insurance industry, gave them a rating of A- for financial stability and an A- for issuer credit.

Minnesota Lawyers Mutual was created to combat the dramatic increase in malpractice claims. Lawyers were getting bombarded with outrageous premium cost and something needed to be done. The Minnesota State Bar created a task force which later formed into a multimillion-dollar business.

Minnesota Lawyers Mutual have excellent financial stability. They currently have over 170 million in assets and over 80 million in surplus. Over the last 30 years, Minnesota Lawyers Mutual has paid over 49 million in dividends to their policyholders. Policyholders have peace of mind knowing their insurance obligations will be met.

Over the years, the company expanded to accommodate fifteen states. These states are Connecticut, Tennessee, Wisconsin, Massachusetts, Nebraska, Ohio, Maryland, Iowa, South Dakota, Virginia, Pennsylvania, Illinois, North Dakota, Minnesota, and Indiana. Coverages vary by state.

Minnesota Lawyers Mutual works with solo-practitioners and small to mid-size businesses. Policy highlights include full prior acts coverage, first dollar defense, innocent insured protection, predecessor firm coverage, and supplementary payments coverage. MLM also offers policies that are geared especially for defense attorneys. Their new lawyers' program offers premiums at an introductory rate for two years.

Minnesota Lawyers Mutual has met and exceeded their goals. This company is financially strong and goes above and beyond for their policyholders. Policyholders are loyal to this company and MLM ensures their policyholder's satisfaction.

answered Dec 5, 2017 by karen (690)
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