The National Association of Mutual Insurance Companies (NAMIC) is the only
U.S.
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...
trade association
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...
representing
mutual property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...
/
casualty insurance Casualty insurance is a defined term which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance.
Casualty insurance is mainly liability coverage of an individual or organization for ne ...
companies. Founded in 1895, NAMIC has been serving its U.S. and
Canadian
Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of ...
members in areas of
advocacy and
education
Education is a purposeful activity directed at achieving certain aims, such as transmitting knowledge or fostering skills and character traits. These aims may include the development of understanding, rationality, kindness, and honesty ...
.
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.
The association was incorporated in 1920 in
Indianapolis, Indiana
Indianapolis (), colloquially known as Indy, is the state capital and most populous city of the U.S. state of Indiana and the seat of Marion County. According to the U.S. Census Bureau, the consolidated population of Indianapolis and Mari ...
, where its national headquarters is still located. It also has a
Washington, D.C.
)
, image_skyline =
, image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...
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
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
and the many contributions the property/casualty insurance industry makes to society.
References
External links
NAMIC– National Association of Mutual Insurance Companies (NAMIC)
{{business-org-stub
Financial services companies established in 1895
Insurance companies of the United States