Liberty Mutual Insurance of Boston, Mass., which was founded in 1912, is joining the National Association of Mutual Insurance Companies' (NAMIC) "Century Club" in recognition of 100 years of serving their policyholders.
Liberty Mutual got its start 100 years ago as the Massachusetts Employees' Insurance Association following the 1911 passage of a state law requiring employers to protect their employees with workers' comp 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.
Five other NAMIC member companies are also joining the club this year. They are: Employers Mutual Casualty Company of Des Moines, Iowa; Grange Mutual Insurance Company of Custer County, Broken Bow, Neb.; Harding & Perkins Farm Mutual of Prairie City, S.D.; Laclede Mutual Insurance Company, Lebanon, Mo.; and Palo Mutual Fire Insurance Association of Aurora, Minn.
The six companies will receive special recognition at the 117th annual convention of NAMIC members meeting Sept. 16-19 in Grapevine, Texas.
"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 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."
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.
admin 19 Sep, 2012
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Source: http://www.insurancejournal.com/news/east/2012/09/18/263418.htm
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