The N&D Group is a

mutual insurance A mutual insurance company is an insurance company owned entirely by its policyholders. 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 re ...

carrier based in

Dedham, Massachusetts Dedham ( ) is a town in and the county seat of Norfolk County, Massachusetts, United States. The population was 25,364 at the 2020 census. It is located on Boston's southwest border. On the northwest it is bordered by Needham, on the southwest b ...

, comprising three regional

property and casualty General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determine ...

insurance companies which market personal and commercial insurance product lines through independent insurance agents. The group conducts business in

Massachusetts Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut assachusett writing systems, məhswatʃəwiːsət'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England ...

New Hampshire New Hampshire is a U.S. state, state in the New England region of the northeastern United States. It is bordered by Massachusetts to the south, Vermont to the west, Maine and the Gulf of Maine to the east, and the Canadian province of Quebec t ...

, and

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...

, and wrote about $267 million in annual

insurance premium 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 ...

in 2021. Founded as The Norfolk Mutual Fire Insurance Company in 1825, The N&D Group is one of the oldest mutual insurance companies in the

United States 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 territorie ...

History

As early

residents were establishing new farms and businesses, it became apparent that the community needed financial protection against various risks such as fire. As a result, The Norfolk Mutual Fire Insurance Company was established by a group of prominent citizens, electing

John Endicott John Endecott (also spelled Endicott; before 1600 – 15 March 1664/1665), regarded as one of the Fathers of New England, was the longest-serving governor of the Massachusetts Bay Colony, which became the Commonwealth of Massachusetts. He ser ...

as the company's first president. In 1847, Norfolk built an office building at 4 Pearl Street in Dedham Square. For the next 40 years, the building also housed the

Dedham Institution for Savings Dedham Savings is one of the oldest American banks still in operation and one of the oldest banks in the state of Massachusetts still doing business under its original charter. Deposits at Dedham Savings are insured up to current limits of the ...

, the

Dedham Bank The Dedham Bank was a bank in Dedham, Massachusetts. It was located on the corner of High and Pearl Streets. Those involved with the establishment of the bank in 1814 include Elijah Crane, Willard Gay, Samuel Haven, John Guild, Jabez Chickerin ...

, and served as a home for the Norfolk County grand jury. Throughout the early to mid 1900s, the company quickly grew and expanded to various states in the Northeast. In the 1950s, doing business in 26 states, the group constructed its headquarters building at their current address along the

Charles River The Charles River ( Massachusett: ''Quinobequin)'' (sometimes called the River Charles or simply the Charles) is an river in eastern Massachusetts. It flows northeast from Hopkinton to Boston along a highly meandering route, that doubles b ...

. After catastrophic events such as

Hurricane Andrew Hurricane Andrew was a very powerful and destructive Category 5 Atlantic hurricane that struck the Bahamas, Florida, and Louisiana in August 1992. It is the most destructive hurricane to ever hit Florida in terms of structures damaged ...

, N&D eventually retrenched on its core business and now focuses on general P&C insurance in

, and

. About 400 independent agencies sell Norfolk & Dedham insurance products. The company employs about 150 people and manages roughly $800 million in assets. In 2020, the company announced it would be reconstructing its corporate headquarters in Dedham, with demolition of their building in the summer of 2020. The project, which is being constructed on top of the footprint of the old building, is expected to be complete in the summer of 2022. In June of 2022, the construction project was completed. The companies that make up The Norfolk & Dedham Insurance Group are: * Norfolk & Dedham Mutual Fire Insurance Company – Established 1825 * Fitchburg Mutual Insurance Company – Established 1847 * Dorchester Mutual Insurance Company – Established 1855

Charity and local service

Through The Norfolk & Dedham Foundation (established in 2017), The N&D Group has supported over 50 local organizations, including the Dedham Community House, Boston Food Bank, Pine Street Inn and the

Cristo Rey Network The Cristo Rey Network is a not-for-profit organization founded in 2000 to increase the number of schools modeled after Cristo Rey Jesuit High School in Chicago, which was founded in 1996 to prepare youth from low-income families for post-seconda ...

. Throughout each year, the company conducts volunteer days in support of charitable organizations working locally to the areas the company services.

References

Works cited

* {{DEFAULTSORT:Norfolk and Dedham Group Financial services companies established in 1825 Mutual insurance companies of the United States Companies based in Dedham, Massachusetts