Amica Mutual Insurance
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| Type | Mutual |
|---|---|
| Industry | Insurance |
| Founded | 1907 |
| Headquarters | Lincoln, Rhode Island, United States |
| Key people | Robert A. DiMuccio, President & CEO |
| Revenue | US$ 1,647.9 million (2009) |
| Website | www.Amica.com |
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.[1][2]
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Company history [edit]
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This article needs additional citations for verification. (August 2012) |
Automobile Mutual Insurance Company of America began in 1907 in Providence, Rhode Island, offering auto, fire and theft insurance.[3]
The man behind the company was Adolph T. Vigneron, a prominent Providence businessman. 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.[citation needed] To meet expanding needs, in 1914, the Factory Mutual Liability Insurance Company of America began providing liability insurance to Automobile Mutual policyholders.[3]
In 1941, Amica opened its first branch office in Boston, Massachusetts. The company added homeowners' insurance in 1956 and later added marine and personal excess liability insurance. In 1970, Amica Life Insurance began. In 1973, Automobile Mutual and Factory Mutual became a single company.
In 1994, Amica's corporate offices moved from Providence, Rhode Island, to a much larger campus in nearby Lincoln.[3]
The company celebrated its 100th year in 2007.
Related companies [edit]
- Amica General Agency, Inc
- Amica General Insurance Agency of California, Inc
- Amica Life Insurance Company
- Amica Lloyds of Texas
- Amica Property and Casualty Insurance Company
References [edit]
- ^ "New & Used Car Ratings - Quality, Performance & Reliability Ratings". J.D. Power. Retrieved 2012-09-14.
- ^ "J.D. Power and Associates". Businesscenter.jdpower.com. 2009-08-17. Retrieved 2012-09-14.
- ^ a b c "Amica Insurance: History". Retrieved 2012-08-27.
External links [edit]
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