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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SPRHMn57n0maZ3ENQV/g+I9fuM3ACf3LxdgcWrUYAQF7azoNGrJzovlFd0l+sQpw
 +gnas5sfX1o+sN6D9MiW9g==

<SEC-DOCUMENT>0001017626-03-000004.txt : 20031112
<SEC-HEADER>0001017626-03-000004.hdr.sgml : 20031111
<ACCEPTANCE-DATETIME>20031112112436
ACCESSION NUMBER:		0001017626-03-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031110
FILED AS OF DATE:		20031112

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BALDWIN & LYONS INC
		CENTRAL INDEX KEY:			0000009346
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		IRS NUMBER:				350160330
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1099 N MERIDIAN ST
		STREET 2:		STE 700
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46204
		BUSINESS PHONE:		3176369800

	MAIL ADDRESS:	
		STREET 1:		1099 NORTH MERIDIAN ST
		STREET 2:		STE 700
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BALDWIN H C AGENCY INC
		DATE OF NAME CHANGE:	19720309

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GOOD JAMES W
		CENTRAL INDEX KEY:			0001017626

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-05534
		FILM NUMBER:		03991788

	BUSINESS ADDRESS:	
		STREET 1:		C/O BALDWIN & LYONS INC
		STREET 2:		1099 NORTH MERIDIAN STREET
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46204
		BUSINESS PHONE:		1376369800

	MAIL ADDRESS:	
		STREET 1:		C/O BALDWIN & LYONS INC
		STREET 2:		1099 NORTH MERIDIAN STREET
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46204
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-11-10</periodOfReport>
    <issuer>
        <issuerCik>0000009346</issuerCik>
        <issuerName>BALDWIN &amp; LYONS INC</issuerName>
        <issuerTradingSymbol>BWINA / B</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001017626</rptOwnerCik>
            <rptOwnerName>GOOD JAMES W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1099 NORTH MERIDIAN STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>INDIANAPOLIS</rptOwnerCity>
            <rptOwnerState>IN</rptOwnerState>
            <rptOwnerZipCode>46204</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Executive Vice President</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Class B Common</value></securityTitle><transactionDate><value>2003-11-10</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>8750</value></transactionShares><transactionPricePerShare><value>25.50</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>96875</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureO
fOwnership><value/></natureOfOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeHolding><securityTitle><value>Class A Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>17250</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value/></natureOfOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Right to buy (option)</value></securityTitle><conversionOrExercisePrice><value>.80</value></conversionOrExercisePrice><transactionDate><value>2003-11-10</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>X</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>4375</value></transactionShares><transactionPricePerShare><value>25.50<
/value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1995-12-29</value></exerciseDate><expirationDate><value>2005-12-29</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class B  Common</value></underlyingSecurityTitle><underlyingSecurityShares><value>4375</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value/></natureOfOwnership></ownershipNature></derivativeTransaction><derivativeTransaction><securityTitle><value>Right to buy (option)</value></securityTitle><conversionOrExercisePrice><value>.80</value></conversionOrExercisePrice><transactionDate><value>2003-11-10</value></transactionDate><transactionCoding><transactionFormType>4</tran
sactionFormType><transactionCode>X</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>4375</value></transactionShares><transactionPricePerShare><value>25.50</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>1996-12-23</value></exerciseDate><expirationDate><value>2006-12-23</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class B  Common</value></underlyingSecurityTitle><underlyingSecurityShares><value>4375</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value/></natureOfOwnership></ownershipNature></derivativeTransaction><derivativeHolding><securityTitle><valu
e>Right to buy (option)</value></securityTitle><conversionOrExercisePrice><value>20.60</value></conversionOrExercisePrice><exerciseDate><value>2000-12-18</value></exerciseDate><expirationDate><value>2007-12-18</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class B  Common</value></underlyingSecurityTitle><underlyingSecurityShares><value>93750</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>93750</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value/></natureOfOwnership></ownershipNature></derivativeHolding></derivativeTable><footnotes/><remarks/><ownerSignature><signatureName>James W. Good</signatureName><signatureDate>2003-11-12</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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