To Our Policyholders:
We are privileged to have served you, Lawyers Mutual of Kentucky’s (“LMICK”) insureds and the lawyers of the Commonwealth of Kentucky, for another year. In anticipation of the upcoming Annual Meeting (more details below), this is my opportunity each year to tell you about the state of your Company and to reiterate how proud we are to work with you and for you. I decided, however, to take a bit of a different approach. You hear us talk about ourselves - what we do and how we do it - all the time. I thought it might be nice to hear about LMICK from others who know us and can tell you about the Company and how we try to do business in service to you.
LMICK was founded in 1986 by a forward-thinking group of Kentucky lawyers who wanted better for the lawyers of the Commonwealth of Kentucky. In starting LMICK, the goals were 1) to assure availability of professional liability insurance to the lawyers of the Commonwealth of Kentucky; 2) to help the lawyers of Kentucky in meeting their responsibilities to their clients and the public; and 3) to foster competition in the insurance marketplace.
These objectives remain a part of the Company’s mission today. We endeavor to provide quality coverage; claims avoidance advice and counsel; superior service when insureds have claims; risk mitigation and management guidance; free continuing legal education; and other services and resources to assist with the practice of law. The quotes below, from our insureds, Board members and partners in the legal community, demonstrate the ways in which LMICK has succeeded in serving the lawyers of Kentucky.
From Trey Moore, LMICK Insured and Board Member ...
When my firm was faced with a claim, LMICK’s team acted with unparalleled agility and excellence, achieving an excellent result. As a board member, I’ve touted LMICK’s claim handling experience. As an insured, I’ve lived it. I’m proud to be a board member and an insured.
Brian Cole, with Gallagher Re ...
“I have had the pleasure of representing Lawyers Mutual of Kentucky for 25 years. What has always struck me throughout that entire time is that the Staff and Board work tirelessly to ensure that the legal malpractice insurance needs of Kentucky’s attorneys are not just being covered by traditional insurance, but being proactively managed through educational programs and risk management seminars. And should an unfortunate claim arise, I believe Lawyers Mutual’s claims staff has the expertise and local knowledge with which large commercial carriers just can’t compete.”
From Guion Johnstone, Executive Director of Kentucky Bar Foundation and Kentucky IOLTA Fund ...
As Executive Director of the KY IOLTA Fund, I regularly field questions from attorneys about trust accounts. One resource that I refer them to is the Client Trust Account Handbook. The last edition, co-authored by LMICK and the KY IOLTA Fund, was released 13 years ago, and needed some updates. Over the past several months, I have been working with LMICK staff to develop a new edition that not only contains updates on the law, but also is a major rewrite and redesign to make the content more accessible and streamlined. We also were able to partner with UK’s Rosenberg College of Law to have the assistance of a law student intern who worked on the project in exchange for public service credit. This was a valuable learning opportunity for the student and a huge help to us. The new handbook should be released at the end of this summer and has been accepted to be the subject of a CLE at all 9 Kentucky Law Updates this fall. It has been a pleasure collaborating with LMICK on this project that will benefit attorneys across the state.
LMICK is one of the most valuable partners that we have at the Kentucky Bar Foundation and the Kentucky IOLTA Fund. Their financial and in-kind support help us work to make the justice system more accessible to all Kentuckians.
From Whitney J. Denson, an officer with the McCracken County Bar Association ...
I have been an officer with the McCracken County Bar Association for several years. A LMICK representative (Courtney being our favorite!) is always our go-to speaker for the ethics presentation that we offer to our members each summer. Speaking to Courtney specifically, her presentations are always so relatable and practical. She finds a way to make us laugh, even when talking about the dreaded topic of malpractice. No two presentations are the same and the information is always updated. We look forward to having her as our speaker each summer.
From Lee Metzger, insured and KBA Young Lawyers Division Chair ...
The KBA YLD would not be able to offer its annual programming and projects for the benefit of Kentucky’s legal community without the unwavering support we have received from Lawyers Mutual. The longstanding partnership between our organizations has allowed us to provide high-quality CLE to our members, offer networking and social events like the Barrister’s Ball, and supply critical resources to our friends and neighbors in need through projects such as the Legal Food Frenzy.
From Kyle Bunnell, with the KBA Young Lawyers Division ...
LMICK cares about lawyers - and not just the ones to whom it provides its exemplary services. The KBA Young Lawyers Division could not sustain the work it does without LMICK’s support. LMICK is a true partner; from assisting with the New Lawyer Program to supporting the Legal Food Frenzy, as well as promoting mental health and wellness, LMICK goes above and beyond to support the YLD and young lawyers across the Commonwealth.
From Zanda Myers, an officer with the Bowling Green/Warren County Bar Association ...
Lawyers Mutual of Kentucky has provided our organization with ongoing education by presenting at multiple CLE programs. But, even more valuable is how accessible and willing staff, particularly Courtney Risk, has been in helping us design programs to keep lawyers up to date on all matters involving ethics and professional conduct.
From Yvette Hourigan, KYLAP ...
I am invariably moved by the way LMIK supports its insureds when there has been a professional violation that was or may have been the result of a mental health impairment – whatever that impairment may be. The respect and support they show their insured lawyers that we are working with -- who are likely at their lowest and most vulnerable point -- is honorable.
KYLAP exists because many years ago LMIK’s leadership understood that lawyer well-being improves lawyer competence. With their hearts full of compassion but their heads focused on good business, they recognized that supporting a program like KYLAP which assisted impaired lawyers, was not only the right thing to do, but would most assuredly reduce lawyer error. Without that support and understanding, KYLAP would not have evolved into the nationally recognized program it is today.
Thank you to all of these “partners” for taking time to share a bit about their experiences with LMICK. Our success is made possible by the continued loyalty and support of our insureds, volunteer Board members, and legal community collaborators.
To conclude, please know that the state of your Company is strong. Importantly, 2022 marked LMICK’s 16th consecutive profitable year. The financial stability that the Company enjoys allows us to serve the needs of our insureds, specifically, and Kentucky lawyers more broadly. LMICK’s 2022 renewal rates were strong and new business numbers from late 2022 and early 2023 were robust. 2023 is off to a great start as we remained focused on the Company’s mission of service to our insureds and the lawyers of Kentucky.
For more detailed information about LMICK's activities in 2022, please review the following reports:
We look forward to continuing to serve you this year and beyond!
President & CEO