Texas Lawyers' Insurance Exchange · Austin, TX United States
Company Description
Phone: 512-480-9074
Fax: 512-482-8738
Toll Free: 800-252-9332
View Texas Lawyers' Insurance Exchange Locations On A US Map
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This link will open in a new window Texas Lawyers' Insurance Exchange (TLIE) provides liability and malpractice coverage for lawyers and law firms throughout the state of Texas. It offers underwriting as well as risk management services. The organization covers about 3,500 attorneys in some 1,200 member firms. Subsidiary Texas Lawyers' Professional Insurance Agency, a managing general agent, contracts with independent agency Texas Associates to market liability, property, automobile, workers' compensation, and other insurance products. The company is owned by its members who also elect the board. TLIE was founded in 1979. To read the full description, subscribe now.
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Key Texas Lawyers' Insurance Exchange Financials
| Company Type | Private Single Location |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $14.5 |
| Employees | 20 |
Texas Lawyers' Insurance Exchange Executives
28 executives listed for Texas Lawyers' Insurance Exchange's Austin, TX location.
| Title | Name & Bio | Contact |
| Chairman | James Lovell | Network |
| President | John Randolph | Network |
| Accounting Supervisor | Dennis Haney | Network |
Competition
Competitive Landscape for Texas Lawyers' Insurance Exchange
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Texas Lawyers' Insurance Exchange Competitors
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