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Merchants Insurance Group was founded on March 5, 1918, the day Merchants Mutual Liability Company opened for business with Urban F. Jehle as President. Mr. Jehle, owner and operator of a grocery store in Buffalo, returned from a grocers’ convention with the idea of bringing merchants together for the mutual protection of their delivery vehicles.
The company was established as America's first auto insurance company for nondrinkers. Dec. 26, 1946 – Preferred Risk Mutual Insurance Company (PRM) was organized in Des Moines, Iowa, with $30,000 capital contributed by Plymat, J.J. Mallon and Reverend Sam Morris. Morris, a popular radio host, was elected the first president of the company.
On October 9, 1917 the Mutual Auto Theft Insurance Company and the Mutual Auto Fire Insurance Company were chartered. [citation needed] In 1922 after changes in state regulations and increased business by automobile owners the Harleysville Mutual Casualty Company was formed. [citation needed] In 1933 they merged with the Auto Theft Company.
The company was founded in 1925 when a group of Illinois Agricultural Association members developed an organization to provide fire and lightning insurance for farmers. [ 4 ] In the company's first year of operation, more than 385 Illinois farmers worked part-time, offering insurance services to their friends and neighbors.
A mutual insurance company is an insurance company owned entirely by its policyholders. It is a form of consumers' co-operative . Any profits earned by a mutual insurance company are either retained within the company or rebated to policyholders in the form of dividend distributions or reduced future premiums.
FM (formerly FM Global) is an American mutual insurance company based in Johnston, Rhode Island, United States, with offices worldwide, that specializes in loss prevention services primarily to large corporations throughout the world in the Highly Protected Risk (HPR) property insurance market sector.
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