Posted on 17 Sep 2012 by Neilson
Six mutual insurance companies have been inducted into the National Association of Mutual Insurance Companies' (NAMIC) Century Club in recognition of 100 years of serving their policyholders. The six companies will receive special recognition at the 117th Annual Convention of NAMIC members meeting Sept. 16-19 in Grapevine, Texas.
With these new Century Club members, NAMIC now has nearly 670 member companies that have met or have exceeded the 100-year milestone. NAMIC's oldest member, the Philadelphia Contributionship, was founded in 1752.
"There are those companies that are managed with such superior skill, remarkable acumen, and deep respect for fiscal health that they have been able to enjoy a century of success," said Charles M. Chamness, president/CEO of NAMIC. "It's a tough world out there, but despite the challenges of the last few years, NAMIC's newest members of the Century Club - and, in fact, all of NAMIC's member companies - have flourished and adapted to meet the demands of a new paradigm."
The Century Club's Class of 2012:
- Employers Mutual Casualty Company, Des Moines, Iowa. EMC ranks among the top 60 insurance organizations in the United States and is one of the largest property/casualty companies in Iowa, based on net written premium. EMC is financially solid, built on 100 years of serving policyholders and independent insurance agents. Today, EMC employs more than 2,100 employees in 16 locations across the country and sells its products in more than 40 states solely through independent insurance agencies.
- Grange Mutual Insurance Company of Custer County, Broken Bow, Neb. Grange Mutual was incorporated in 1912 as a fire, lightning, windstorm, and tornado company operating on an assessment plan in Custer Counter, Neb.
- Harding & Perkins Farm Mutual, Prairie City, S.D. Harding & Perkins was originally organized in 1912 as the Harding County Farmers Mutual Fire and Lightning Insurance Company of Ralph, South Dakota for property owners who needed protection against fire and lightening. Seventy-five years later, the company changed to its present name, Harding & Perkins Farm Mutual Insurance Company. The change allowed the company to grow in members and broaden its risk base.
- Laclede Mutual Insurance Company, Lebanon, Mo. Laclede Mutual Insurance Company's first policy was written on Feb. 7, 1912, for the sum of $1,000; today, the company boasts more than $3 million in premium. With more than 3,700 policyholders, Laclede Mutual continues to meet the needs of its customers by providing property/casualty coverage to its insureds throughout Missouri.
- Liberty Mutual Insurance Company, Boston, Mass. Founded in 1912 as the Massachusetts Employees' Insurance Association following the 1911 passage of a state law requiring employers to protect their employees with workers' compensation insurance. Liberty Mutual today is a diversified global insurance company and the third largest property/casualty insurer in the United States. With more than 45,000 employees in more than 900 locations throughout the world, it offers a wide range of insurance products and services, including personal automobile, homeowners, workers' compensation, commercial multiple peril, commercial automobile, general liability, global specialty, group disability, fire, and surety.
- Palo Mutual Fire Insurance Association, Aurora, Minn. Palo Mutual was established in 1912 by a group of farmers unable to find insurance from other insurance companies. Founded on the premise of neighbor helping neighbor, Palo Mutual is a community-based company led by a board of directors elected from among the policyholders to serve policyholders in northeastern Minnesota. It offers coverage for homes, farms, cabins, and personal property.