Business spotlight - A new name, the same faces: Security Mutual Insurance Association

A Butler County business founded 143 years ago—in February 1876—has expanded its services this year and taken on a new name. Butler County Mutual Insurance in Allison (originally Farmers’ Mutual Fire and Lightning Insurance) is now the Security Mutual Insurance Association.

     Policyholders met on Nov. 15 and voted in favor of a merger with Readlyn Mutual Insurance, taking over that business, and changing the name of the company, effective January 1.

     With the merger, the company, which provides property and casualty insurance protection for homes, farms and farm equipment, has expanded to serve 26 counties—most of Northeast Iowa.  They have also increased their policy offerings to include policies with expanded coverage for newer homes at a cheaper premium.

     “We have become financially stronger and a more diversified company. … Through the merger process, we’ve taken a long look at ourselves internally with the goal of becoming a better company,” said President/Treasurer Brian Dix. “We’ve taken the best practices of their company and ours as we merged together. We’ve listened to what agents and customers are asking for with coverages and have actually restructured our pricing and underwriting to offer more products going forward as well as expanded our availability of insurance to our customer base to make a bigger, stronger company going forward.”

 

Read more in the February 7 edition of the TRIBUNE.

 

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