ISBA Mutual Declares Fifth Consecutive Dividend
For the fifth year in a row, ISBA Mutual has declared a policyholder dividend. The Board of Directors of ISBA Mutual Insurance Company voted at their December 2009 meeting to declare a dividend in the amount of ten percent of each policyholder’s earned premium for 2009. For most policyholders, this means a dividend roughly equal to ten percent of the premium they paid during 2009. Over $1.5 million will be distributed. Dividend checks will be mailed during February 2010. All firms insured with ISBA Mutual on December 31, 2009 qualify for a dividend. Firms insured with ISBA Mutual on this date who were not insured by the company for the entire calendar year will receive a prorated dividend. This is the sixth time ISBA Mutual has declared a dividend. ISBA Mutual ended 2009 with approximately $16.9 million in gross written premium and nearly $25 million in policyholders’ surplus.
ISBA Mutual has an A.M. Best rating of A (excellent), and is the endorsed professional liability insurance company of the Illinois State Bar Association.
223 West Ohio Street Chicago IL 60654-4445
Phone (800) 473-4722 or (312) 379-2000