About NAMIC

For more than a century, NAMIC has made a significant and lasting impact on the property/casualty insurance industry.

NAMIC's foundation is built upon its diversity in membership and grassroots strength. Companies range in size from one person operating a small farm mutual company offering property insurance for wind and fire exposures to some of the world's largest insurers providing comprehensive commercial and personal lines coverages. NAMIC benefits member companies through government relations, public affairs, education, arbitration services and insurance programs.

Membership in NAMIC is not restricted to mutual insurance companies. Stock insurance companies, reinsurance companies and industry vendor companies may also apply to become members of the association and enjoy the benefits membership can bring.

NAMIC is the largest and most diverse national property/casualty insurance trade and political advocacy association in the United States. Its 1,400 member companies write all lines of property/casualty insurance business and include small, single-state, regional, and national carriers accounting for 50 percent of the automobile/ homeowners market and 31 percent of the business insurance market. NAMIC has been advocating for a strong and vibrant insurance industry since its inception in 1895.

NAMIC benefits member companies through advocacy, public policy, and member services.

About Mutual Insurance

The mutual insurance concept originated in England in 1696 with the establishment of the first mutual fire insurer. The idea migrated to America with the successful founding of the Philadelphia Contributionship for the Insurance of Houses From Loss by Fire (a NAMIC member), in 1752, by Benjamin Franklin.

Unlike stock insurance companies, which are owned by investors who may have no other connection with the company, mutual insurance companies are owned by their policyholders. Policyholders are entitled to vote for members of the company's board of directors, and may receive special dividends in the form of capital distributions or reductions of policy premiums. Unlike stock companies, mutual companies exist solely to serve the insurance needs of their policyholders, and not to provide investment profits to shareholders.

Mutual insurance companies range in size from small companies operated out of managers' homes - providing insurance to America's farmers to protect the dwellings, buildings and machinery that make farming possible - to some of the largest insurers of homes, automobiles and businesses in the world. Learn more...