On February 20, 2009, following more than 30 years of service to the attorneys of Texas, Mr. James R. Lovell of Dumas, Texas, decided it was time to step down as Chairman of the Board of Texas Lawyers’ Insurance Exchange. Mr. Thomas L. Hanna, a long time Board Member and former Executive Director of the State Bar, was elected by the Board as the new Chairman. Mr. Lovell’s involvement with TLIE actually began more than 30 years ago as one of the Trustees of the State Bar Insurance Trust. In June, 1976 Jim initiated the concept of a Bar-sponsored company dedicated to providing professional liability insurance to Texas attorneys which was introduced at a meeting of the Trustees. In January 1977, the Bar Board of Directors endorsed Jim’s idea of creating a reciprocal or inter-insurance exchange. For the next 18 months the Trustees met almost monthly to work out the plans for TLIE. On June 27, 1978, the initial organizational meeting of TLIE was held. The initial problem to be resolved was how to capitalize the Company. It took almost one year to raise $1,854,600 through the sale of Surplus Debentures to members of the State Bar. On May 1, 1979, TLIE issued the first of 56,000 policies. Under Jim’s careful direction the Company grew very rapidly and by 1986, thanks to another period when coverage for most attorneys was not available at any price, insured more attorneys than any other carrier in the State. Unfortunately, it was about this time that the Savings and Loan Crisis began and new and innovative theories of attorney malpractice emerged that severely impacted TLIE. Through force of will and great resolve Jim guided the Company through these turbulent times and the subsequent recovery. He was determined that, despite the numerous problems that arose during this period, TLIE would retain an operating philosophy focused on service, consistent availability, and, if possible, price stability in all types of market conditions. This was Jim’s philosophy which will continue into the future. It is impossible to put into words the emotional impact of Jim’s decision on those of us who have been with the Company for many years. His original idea led to the Company’s birth and he skillfully guided us through infancy, childhood, adolescence and now into adulthood. Over the years Jim has been honored with numerous awards and I know he is proud of each and every one, but I have to also believe that the success TLIE has attained and its continued dedication to serving the attorneys of Texas has to rank high on his list of accomplishments. Jim has not only been my boss for 23 years, he has been a significant force as both a mentor and as a friend. Although Jim’s departure from the Board brings an end to his formal relationship with TLIE, except as an insured, his guiding principles will remain with us forever. The attorneys of Texas, past, present and future owe Jim a well deserved thank you for his dedication and service.
