WE ARE A MUTUAL HOLDING COMPANY
Frederick Mutual Holdings Inc., a mutual insurance holding company, empowers its policyholders through shared ownership.
In 2022, Frederick Mutual Insurance Company reorganized from a mutual insurance company to a mutual insurance holding company structure, in accordance with Maryland law and pursuant to policyholder and board approval. Through the reorganization, Frederick Mutual Holdings, Inc., a mutual insurance holding company, and Frederick Mutual Group, Inc., an intermediate holding company, were formed. Frederick Mutual Insurance Company became a direct subsidiary of Frederick Mutual Group and a wholly owned indirect subsidiary of Frederick Mutual Holdings. Under the new mutual insurance holding company structure, all existing and future policyholders of Frederick Mutual Insurance Company retain their mutual ownership rights and automatically become members of Frederick Mutual Holdings.
Frederick Mutual Celebrates 180 years in 2023!
Founded on December 15, 1843, FMIC has continuously operated for 180 years as a mutual insurance company serving policyholders, initially in Maryland; and subsequently expanding the operating territory into Pennsylvania, Virginia, Delaware, D.C., North Carolina and South Carolina. We work with respected local independent agents who share our values.
New products and coverage enhancements accompanied our expansion into new states. We will continue delivering innovative products to our agents and policyholders throughout the year.
What Frederick Mutual Does
We provide competitive coverage for small businesses and homeowners in Maryland, Virginia, Delaware, North Carolina, Washington, D.C. and Pennsylvania.
We aim to provide Peace of Mind to our policyholders through Independent Agents.
How Frederick Mutual Delivers
We have a responsive, knowledgeable team of Underwriters, including Executive Underwriters that work directly with our Agents at their offices to bind business faster. We have a dedicated, onsite Claims Department. We are an Equal Opportunity Employer.
Frederick Mutual’s History
We are the 3rd oldest insurance company in Maryland and the 9th oldest in the United States. Our longevity is attributed to strong financials, derived from safeguarding the interests of our policyholders, and keeping pace with an ever-changing industry.
Early company ledgers recorded increasing values for farmlands and farm equipment as applications for insurance poured in from across Frederick County. Citizens of Frederick indicated investments in education, agriculture, music, and entrepreneurship by requesting insurance coverage for their libraries, stables, pianos, and one-story office buildings.
The first claim payout was $5.83 for damage to the home of Peter Storm on South Market Street in August 1845. Today, this claim would cost approximately $183.
The largest claim payout in the early years of FMIC was for the burning of the mill of Theodore Delaplaine on the Monocacy River. The loss was $7000, which equates to over $188,000 in today's dollars.
