Amica Mutual Insurance
Encyclopedia
Amica Mutual Insurance Company is an American
mutual insurance
company which sells automobile, homeowners, marine and personal umbrella liability insurance, founded in 1907. It employs 3,234 people in 40 offices across the United States, and is headquartered in Lincoln, Rhode Island
. Amica is one of the few remaining large-scale mutual insurance firms that consistently ranks highly in JD Power and other consumer satisfaction rankings.
The man behind the company was Adolph T. Vigneron, a prominent businessman in Providence, Rhode Island
. At the time he was a vice president of the Associated Factory Mutual Fire Insurance Companies. These companies practiced preferred risk underwriting which provided lower insurance rates for factories in excellent condition. He theorized that the same principles could apply to automobile insurance.
Amica was organized as a mutual company, meaning that the company was owned by policyholders rather than stockholders.
Amica experienced steady growth as the number of automobiles on the road increased. To meet expanding needs, the Factory Mutual Liability Insurance Company of America was chartered in 1914 for the purpose of providing liability insurance to Automobile Mutual policyholders.
In 1941, Amica opened its first branch office in Boston
, Massachusetts
. Today, Amica has 39 offices across the United States. In 1994, Amica's corporate offices moved from Providence, Rhode Island
, to a much larger campus in nearby Lincoln
. The company celebrated its 100th year in 2007.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
mutual insurance
Mutual insurance
A mutual insurance company is an insurance company which has no shareholders but instead is owned entirely by its policyholders. The primary form of financial business set up as a mutual company in the United States has been mutual insurance. Under this idea, what would have been profits are...
company which sells automobile, homeowners, marine and personal umbrella liability insurance, founded in 1907. It employs 3,234 people in 40 offices across the United States, and is headquartered in Lincoln, Rhode Island
Lincoln, Rhode Island
Lincoln is a town in Providence County, Rhode Island, United States. The population was 21,105 at the 2010 census. Lincoln is located in northeastern Rhode Island, north of Providence....
. Amica is one of the few remaining large-scale mutual insurance firms that consistently ranks highly in JD Power and other consumer satisfaction rankings.
Company history
Amica Mutual Insurance Company was founded in 1907.The man behind the company was Adolph T. Vigneron, a prominent businessman in Providence, Rhode Island
Providence, Rhode Island
Providence is the capital and most populous city of Rhode Island and was one of the first cities established in the United States. Located in Providence County, it is the third largest city in the New England region...
. At the time he was a vice president of the Associated Factory Mutual Fire Insurance Companies. These companies practiced preferred risk underwriting which provided lower insurance rates for factories in excellent condition. He theorized that the same principles could apply to automobile insurance.
Amica was organized as a mutual company, meaning that the company was owned by policyholders rather than stockholders.
Amica experienced steady growth as the number of automobiles on the road increased. To meet expanding needs, the Factory Mutual Liability Insurance Company of America was chartered in 1914 for the purpose of providing liability insurance to Automobile Mutual policyholders.
In 1941, Amica opened its first branch office in Boston
Boston
Boston is the capital of and largest city in Massachusetts, and is one of the oldest cities in the United States. The largest city in New England, Boston is regarded as the unofficial "Capital of New England" for its economic and cultural impact on the entire New England region. The city proper had...
, Massachusetts
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
. Today, Amica has 39 offices across the United States. In 1994, Amica's corporate offices moved from Providence, Rhode Island
Providence, Rhode Island
Providence is the capital and most populous city of Rhode Island and was one of the first cities established in the United States. Located in Providence County, it is the third largest city in the New England region...
, to a much larger campus in nearby Lincoln
Lincoln, Rhode Island
Lincoln is a town in Providence County, Rhode Island, United States. The population was 21,105 at the 2010 census. Lincoln is located in northeastern Rhode Island, north of Providence....
. The company celebrated its 100th year in 2007.
Related companies
- Amica Life Insurance Company
- Amica Lloyds of Texas
- Amica Property and Casualty Insurance Company
- Amica General Agency, Inc
- Amica General Insurance Agency of California, Inc