Federated Mutual Insurance Company
TypeMutual
IndustryInsurance
Founded1904 (1904)
Owatonna, Minnesota, U.S.
Number of locations
48 states
Area served
United States
Key people
Jeff Fetters (Chairman)
ProductsProperty & Casualty Insurance
Number of employees
About 2,600
Websitefederatedinsurance.com

Federated Mutual Insurance Company ("Federated") is a direct writer of property and casualty insurance products headquartered in Owatonna, Minnesota. The Company has approximately 2,600 employees and operates in 48 states, with several service offices located throughout the country. Federated has an A.M. Best rating of "A+ (Superior)."[1]

History

Entrance to the Federated Mutual Insurance Company Executive Office Building in Owatonna, Minnesota

During the 1890s, the retail implement dealers in Minnesota formed an association, which proved to be very successful. In 1904, these dealers decided to try to reduce their insurance costs by organizing their own insurance company.[2]

Initially, the company was known as the Minnesota Implement Mutual Fire Insurance Company, and retained this name for many years. They would later become the Mutual Implement and Hardware Insurance Company, then Federated Mutual Implement and Hardware Insurance Company and, finally, Federated Mutual Insurance Company ("Federated Mutual").

On January 1, 1948, Federated Mutual entered the casualty insurance field, and was one of the first major insurance companies to write both fire and casualty insurance. In November 1949, accident and health coverage was added, with group accident and health insurance being written for various trade associations and employer groups. Federated Life Insurance Company (or "Federated Life") was organized in January 1959.

Products and Services

List of products and services offered by Federated Mutual Insurance Company:

Federated Mutual once offered group health insurance, but ceased this offering at the end of 2017.

Industries

List of industries Federated Mutual Insurance Company insures:[4]

  • Auto dealers and auto parts wholesalers
  • Contractors (building materials, hardware, electrical, plumbing-heating-cooling, specialized)
  • Equipment dealers (agricultural, lawn and garden, construction)
  • Funeral services
  • Jewelry retailers
  • Machining, plastics, and tooling shops
  • Petroleum marketers and convenience stores
  • Printers
  • Tire dealers
  • Custom cabinet and woodworkers

Philanthropy

Federated Challenge

Federated Mutual Insurance Company hosts an annual two-day fundraising event in St. Paul, Minnesota, for Big Brothers Big Sisters organizations. The event, in its 18th year, has raised over $47 million to support mentoring programs.[5]

Gala

The gala, held on the first night of the Challenge, features live entertainment, a silent auction and a live auction.

Golf Event

The golf event, held on the second day of the Challenge at Interlachen Country Club in Edina, Minnesota, features a four-person scramble and various smaller contests.

Canadian History

Federated Mutual is not associated with Federated Insurance Company of Canada

References

  1. ↑ A. M. Best's Rating & Analysis Center - Company Information for Federated Mutual Insurance Company
  2. ↑ "About Federated - Federated Insurance". www.federatedinsurance.com. Retrieved 2019-05-31.
  3. ↑ "Products - Federated Insurance". www.federatedinsurance.com. Retrieved 2019-05-31.
  4. ↑ "Industries - Federated Insurance". www.federatedinsurance.com. Retrieved 2019-05-31.
  5. ↑ "Home". www.federatedchallenge.org. Retrieved 2019-05-31.
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