The National Association of Mutual Insurance Companies (NAMIC) is the only U.S.

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 trade association

Trade association

A trade association, also known as an industry trade group, business association or sector association, is an organization founded and funded by businesses that operate in a specific industry...

 representing mutual

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...

 property

Property insurance

Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main...

/casualty insurance

Casualty insurance

Casualty insurance, often equated to liability insurance, is used to describe an area of insurance not directly concerned with life insurance, health insurance, or property insurance. It is mainly used to describe the liability coverage of an individual or organization's for negligent acts or...

 companies. Since 1895, NAMIC has been serving its U.S. and Canadian

Canada

Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...

 members in areas of advocacy

Advocacy

Advocacy is a political process by an individual or a large group which normally aims to influence public-policy and resource allocation decisions within political, economic, and social systems and institutions; it may be motivated from moral, ethical or faith principles or simply to protect an...

 and education

Education

Education in its broadest, general sense is the means through which the aims and habits of a group of people lives on from one generation to the next. Generally, it occurs through any experience that has a formative effect on the way one thinks, feels, or acts...

.

Today NAMIC’s 1,400 member companies represent 40 percent of the industry market share

Market share

Market share is the percentage of a market accounted for by a specific entity. In a survey of nearly 200 senior marketing managers, 67 percent responded that they found the "dollar market share" metric very useful, while 61% found "unit market share" very useful.Marketers need to be able to...

, accounting for 50 percent of the automobile/homeowners’ market and 31 percent of the business insurance market. Its membership is a diverse group that includes large national companies, including State Farm

State Farm Insurance

State Farm Insurance is a group of insurance and financial services companies in the United States. The company also has operations in Canada....

 and Nationwide

Nationwide Mutual Insurance Company

Nationwide Mutual Insurance Company & Affiliated Companies is a group of large U.S. insurance and financial services companies based in Columbus...

, as well as regional and state-based companies.

The association was incorporated in 1920 in Indianapolis, Indiana

Indianapolis, Indiana

Indianapolis is the capital of the U.S. state of Indiana, and the county seat of Marion County, Indiana. As of the 2010 United States Census, the city's population is 839,489. It is by far Indiana's largest city and, as of the 2010 U.S...

, where it is still located, but it also has a strong presence in Washington, D.C.

Washington, D.C.

Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....

, where its federal affairs office is located just blocks from the Capitol. NAMIC’s lobbyists work on Capitol Hill and in every statehouse in the country, representing the interests of its members and the industry. 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

Insurance

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

and the many contributions the property/casualty insurance industry makes to society.

External links

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