National Association of Mutual Insurance Companies

The National Association of Mutual Insurance Companies (NAMIC) is the only U.S. trade association representing mutual property/casualty insurance companies. Founded in 1895, NAMIC has been serving its U.S. and Canadian members in areas of advocacy and education.^[1]

NAMIC is the largest and most diverse property/casualty trade association in the country, with 1,400 regional and local mutual insurance member companies serving more than 135 million auto, home, and business policyholders and writing in excess of $196 billion in annual premiums. NAMIC member companies account for 50 percent of the automobile/homeowners market share and 31 percent of the business insurance market share. More than 200,000 people are employed by NAMIC member companies.^[2]

The association was incorporated in 1920 in Indianapolis, Indiana, where its national headquarters is still located. The association also has a Washington, D.C. office located on Capitol Hill. In addition to its advocacy work at the federal level of government, NAMIC also has a network of state managers to represent member companies in every statehouse in the country. NAMIC also provides services that assist member companies, state-based trade associations, and the industry at large through educational programs while increasing public awareness and understanding of the principles of insurance and the many contributions the property/casualty insurance industry makes to society.^[3]

Legislation

Supported

• The NAMIC supported the National Association of Registered Agents and Brokers Reform Act of 2013 (H.R. 1155; 113th Congress), a bill which would reduce the regulatory costs of complying with multiple states' requirements for insurance companies, making it easier for the same company to operate in multiple states.^[4][5]

References

1. Wright, Janet; Virginia Wadsley; Janice Artandi (1994). The History of the National Association of Mutual Insurance Companies, A Century of Commitment, 1895-1995. Indianapolis, IN: National Association of Mutual Insurance Companies. p. 21.
2. "NAMIC Website". NAMIC. Retrieved 28 March 2013.
3. "NAMIC HISTORY". NAMIC. Retrieved 24 February 2011.
4. Kasperowicz, Pete (10 September 2013). "House votes to streamline cross-state insurance sales". The Hill. Retrieved 11 September 2013.
5. Postal, Arthur D. "NARAB II Bill Passes in the House". Property Casualty 360. Retrieved 11 September 2013.

External links

• NAMIC – National Association of Mutual Insurance Companies (NAMIC)