FLMIC declares a dividend for the fourth consecutive year
Florida Lawyers Mutual Insurance Company (FLMIC) has declared a dividend to be paid to qualifying policyholders during 2025.
FLMIC was created by The Florida Bar during the professional liability insurance crisis of the 1980s. After creating the mutual company entity, assembling a board of directors, and hiring the staff, The Florida Bar unconditionally divested its ownership and terminated all operational management and control of the company.
This marks the fourth consecutive year with a dividend declared for qualifying Florida Lawyers Mutual members.
With this year’s dividend declaration, FLMIC is continuing its tradition of offering professional liability insurance, service by underwriters and claims specialists, and risk management resources — such as 30+ hours of CLE videos, including 20+ hours of board certification CLE — in the Member-Exclusive Portal at www.flmic.com.
“Thanks to your sound practices as lawyers,” the company told its members in an email announcement released last month, “favorable claims experience for the Company, and your loyalty as Florida Lawyers Mutual members, your Board of Directors has declared a dividend for qualifying members.”
The dividend, which is 5% of the premium paid to the company during the prior policy year, is paid to those members who hold an active policy on April 1, 2025, and who paid a full year premium for that prior policy. Dividends are issued to the named insured and distributed to qualifying recipients by midyear 2025. Last year’s dividend was 8% of the premium paid to the company during the prior policy year.
The company notes that dividends are paid at the sole discretion of FLMIC’s board and a past dividend does not guarantee the payment or amount of future dividends.
“Declaring this fourth annual dividend for our loyal members further emphasizes the factors that set our company apart in the eyes of the Florida Lawyers Mutual Board of Directors — our enduring financial strength and our commitment to serving all of our members.” said Board Chair Ray Ferrero, Jr., a former president of The Florida Bar who was instrumental in the creation of the company.
Florida Lawyers Mutual plans to make this latest member dividend a key component of the exhibition at this year’s 2025 Annual Florida Bar Convention in Boca Raton, where the company will return as the convention’s exclusive Diamond Sponsor.
During the professional liability insurance crisis of the 1980s, many Florida lawyers found themselves without professional liability insurance or faced rate hikes as high as 70%. Leadership at The Florida Bar answered the crisis by forming the captive insurance company “for lawyers, by lawyers.” FLMIC’s primary objective is to provide to qualified attorneys practicing in Florida a financially sound, stable, and perpetual source of attorney professional liability insurance.
