METAIRIE (press release) – 2022 marks the 40th year that Metairie-based LAMMICO has been providing medical professional liability insurance.
Four decades ago, physicians across the nation were faced with a crisis: many commercial insurance carriers were unwilling to provide medical malpractice coverage or would offer it only at exorbitant rates. In response to the crisis, leadership of state medical societies throughout the country founded medical professional liability mutual insurance companies to bring affordability and stability to the insurance marketplace. The leadership of the Louisiana State Medical Society recommended the formation of Louisiana Medical Mutual Insurance Company in August 1981. LAMMICO, a policyholder-owned and governed company, issued its first policy effective Jan. 1, 1982.
In its 40 years, LAMMICO has grown from being an idea in the minds of a progressive group of physicians in Louisiana to a company that now insures more than 8,000 physicians, nurses, healthcare professionals, hospitals and facilities in seven states. LAMMICO is committed to providing unparalleled service to its policyholders while continuing to expand its insurance products and service territories to meet the needs of the regional healthcare industry.
In its early years, LAMMICO had only a handful of full-time employees. Now it has 120, most of whom are based out of LAMMICO’s Louisiana offices with some telecommuters located in other states.
The company’s community development efforts include partnerships with the American Heart Association and the American Cancer Society.
“We are extremely honored to have been an enduring partner to the healthcare community for the past 40 years, and we look forward to serving them for decades to come,” says J. Michael Conerly, the company’s president and CEO. “LAMMICO’s purpose is to protect those who care for others. As we celebrate our 40th anniversary, LAMMICO remains a strong and stable presence so that physicians and healthcare providers can focus on what matters most – patient care.”
