At Frederick Mutual, stewarding relationships within our local community is a core value. This month our staff collected items for Easter Baskets for the Salvation Army for Easter Baskets. Our faithful staff assembled 30 baskets and will be delivering them to the Salvation Army today! We look forward to the smiles on the children’s and family’s faces who will receive these baskets this Easter!
Frederick Mutual Employee Spotlight: Lisa Snowden
This month Frederick Mutual would like to spotlight Lisa Snowden, Office Administrator. Lisa joined Frederick Mutual in March of 2015 after working in the mortgage industry for 20 years.
“Lisa’s daily actions reflect the love of Christ and her devotion to soul care for those around her. She selflessly ensures work priorities are handled with grace, accuracy, and timeliness. Lisa leads the weekly morning prayer time before the workday begins.”
Lisa lives in Frederick Country, MD and is married with three handsome sons, which includes a set of identical twins, and a beautiful daughter. Lisa loves God, her family and helping others.
The Demotech Difference
For five years, Frederick Mutual has partnered with Demotech, Inc. for our annual Financial Stability Rating® (FSR). Frederick Mutual has trusted the reliability of Demotech, Inc. due to its sound and pragmatic rating practices. In 1989, Demotech, Inc. became the first to review and rate independent, regional and specialty insurance companies. Excerpts from an analysis by Michael Cohen, Principal, Cohen Strategic Consulting, previously a vice president at A. M. Best, summarize The Demotech difference:
There are three major factors that differentiate Demotech’s approach to ratings from those of the other rating agencies:
1. Demotech calibrates its opinion to the likelihood of an insurer having positive surplus 18 months out … other agencies use less specific, subjective adjectives to describe claims paying ability (i.e. “strongest”, “very strong”, “strong”, “adequate”, etc.).
2. Demotech does not view an insurer’s size as an explicit rating factor. Their view is based on their research indicating that when insurers with manageable operating leverage and a conservative investment strategy secure appropriate reinsurance, smaller size does not correlate with increased risk of potential impairment.
3. Consistent with its perspective on size, Demotech views an appropriate reinsurance program as an integral component of an insurer’s business model and plan. In contrast to the larger rating agencies which often view reinsurance as the “cession of potential profit,” Demotech views reinsurance and the concurrent protection of carrier surplus as a necessity for independent, regional and specialty insurers to execute their business plans.
With more than 460 insurers reviewed and rated country wide, as of 7/11/2022, Demotech, Inc. is registered with the U.S.Securities and Exchange Commission (SEC) as a national recognized statistical rating organization (NRSRO) in the class of ratings for insurance companies. Visit www.demotech.com for additional information.
With 180 years in business, and an A, Exceptional FSR, Frederick Mutual believes in the robust, thorough and objective review that Demotech, Inc. provides for insurance companies. Frederick Mutual believes in the Demotech difference.
Frederick Mutual Employee Spotlight: Kris Bapistellar
Frederick Mutual Employee Spotlight!
Kristine A. Bapisteller has been in the insurance business for over 18 years. Kris joined Frederick Mutual Insurance Company in December 2004 as a contractor and permanently joined the company in March 2005. Kris assumes the responsibilities of providing support to FMIC employees, agencies and policyholders. She currently serves as FMIC’s primary help desk team member!
Kris lives in Taneytown with her husband where she was born and raised on a farm.
She enjoys vacations, road trips, flower gardening, taking care of her cats, and spending time with her family.
Frederick Mutual's Community Partners in 2022
Frederick Mutual Gives Back in 2022!
Frederick Mutual continues to be committed to the company’s ministry of care.
In 2022, Frederick Mutual donated $33,978!
Below are some of the non-profit organizations that the company donated to:
Frederick Rescue Mission
Heritage Frederick
FCC Foundation
United Way of Frederick County
Purple Heart Foundation
St. Jude’s Children’s Research
East End Pregnancy
Susan G. Komen
Boys & Girls Club of Frederick County
Frederick County Animal Control
Mental Health Association
Frederick Mutual remains dedicated in giving back to non-profit organizations both local and nationwide.
"Frederick Mutual goes where the need is greatest for the community supporting their needs through donations, sponsorship, and outreach." ~ Nancy Newmister, CEO & President
Frederick Mutual Celebrates 180 Years in Business!
Founded in 1843, Frederick Mutual is the 3rd oldest insurance company in Maryland, and the 9th oldest in the U.S. We invite you to join in celebrating Frederick Mutual's legacy of Providing Peace of Mind for policyholders in every season!
FMIC Member Approval of Mutual Insurance Holding Company
FREDERICK MUTUAL INSURANCE COMPANY announces member approval of its reorganization to a mutual insurance holding company system
On December 15, 2022, on the company’s 180th anniversary, Frederick Mutual’s members approved the reorganization of Frederick Mutual under Maryland law to a mutual insurance holding company structure. Through the reorganization, Frederick Mutual will become a stock insurer subsidiary of a newly formed mutual insurance holding company, Frederick Mutual Holdings, Inc. As part of the reorganization, Frederick Mutual Group, Inc. will also be formed as an intermediate holding company for Frederick Mutual. The members’ vote to approve the new structure follows approvals by the company’s Board of Directors and the Maryland Insurance Administration.
With this new structure, a Frederick Mutual policyholder’s rights and benefits under their insurance policy will remain the obligations of Frederick Mutual while all existing and future policyholders of Frederick Mutual will retain their mutual ownership rights by automatically becoming members of Frederick Mutual Holdings, Inc. The structure will allow Frederick Mutual to retain its identity and storied history of mutual ownership while providing flexibility to thrive in today’s dynamic and competitive environment.
Frederick Mutual insurance Company was founded in 1843, is the 3rd oldest insurance company in Maryland, and the 9th oldest in U.S.
Celebrating 180 Years!
Frederick Mutual Employee Spotlight: Allie Villatoro
When it comes to settling insurance claims, a friendly and caring face goes a long way. This month Frederick Mutual celebrates our Claims Assistant, Allie Villatoro.
Allie works in building professional relationships with salvage vendors, engineers, auto appraisers, attorneys and independent adjusters. In addition, Allie is bi-lingual and assists Spanish speaking policyholders and agents. We sincerely appreciate Allie’s joyful presence, positive attitude, and collaborative nature at Frederick Mutual!
Frederick Mutual Appoints New Board Member: Karen Furtado
FREDERICK MUTUAL INSURANCE COMPANY announces the appointment of Karen Furtado to the Company’s Board of Directors.
Frederick Mutual Insurance Company is excited to announce the appointment of Karen Furtado to its Board of Directors. For more than 30 years, Karen has held leadership positions across the insurance industry. She was previously the Vice President of CGI's Insurance Practice, where she was responsible for the development and oversight of CGI's insurance software services, hosted software services, and core insurance BPO practice. Karen currently provides insurance technology consultative services as a Partner with Strategy Meets Action, located in Boston, MA. Karen’s overall insurance and information technology background complements the expertise of the FMIC Board of Directors.
Frederick Mutual insurance Company was founded in 1843, 3rd oldest insurance company in Maryland, 9th oldest in U.S.
Celebrating 179 years in 2022!
Frederick Mutual Awarded NUProperty&Casualty Luminaries Technological Innovation Distinction
Under new president and CEO Nancy Newmister, FMIC undertook an aggressive modernization program that spurred the launch of 21 new products by 2021, including the core roll-out, agent app and policyholder app. Thoughtful integration has allowed the company to reorganize products, processes and strategies around the new platform. Cost savings from improved efficiency in risk assessment, underwriting and claims processing have dropped the company’s combined ratio by 11 points below the prior five-year average.
This professional recognition program spotlights innovation in the property & casualty insurance sector. Honorees are companies, people, programs and practices that are modernizing and humanizing P&C insurance. Honorees are selected by a panel of industry experts based on how well they stated and achieved goals with regards to the nomination category; how impactful their work has been; how dedicated the nominee has been to furthering modernization and humanization in the insurance business; and the nominee’s commitment to the highest ethical standards as well as dedication to service and excellence.
“Today’s top insurance organizations recognize the industry’s history and purpose while embodying contemporary processes and services,” says NU Property & Casualty Executive Editor Elana Ashanti Jefferson. “My colleagues and I are thrilled to be able to recognize pace-setting insurance organizations, programs, practices, teams and individuals as part of the annual NU PropertyCasualty360 Luminaries recognition program.”
Inflation and Your Insurance
Frederick Mutual sheds light on inflation factors affecting insurance costs and how Frederick Mutual is coming alongside our policyholders.
Insuring Your Happily Ever After!
Frederick Mutual provides insurance reminders for couples as wedding season approaches!
Frederick Mutual Awarded with Great Place to Work Designation for 2022!
Please read more about this national certificate here.
Electric Vehicles and Your Insurance Policy
Insuring Customers with Solar Panels
Solar panels adorning the tops of roofs are becoming more and more common, especially in the sunniest states in the United States. Frederick Mutual has composed a list of risks to think through when installing solar panels on your home. Read below to make the wisest decision on this innovative energy alternative!
Frederick Mutual Provides Contractor's E&O Coverage
As home and commercial improvement projects ramp up this Spring, contractors may be experiencing an influx of homeowner and commercial project requests. More projects can mean increased chances of overlooking details that could lead to mistakes while on the job. With Frederick Mutual’s Contractor’s E&O coverage you can have peace of mind knowing you are protected from any claims against your work, products, or impaired property while completing projects. Read here to learn more about this coverage offering and contact your agent today to learn more about Contractor’s E&O.
Frederick Mutual Insurance Company Leader Honored with Women In Insurance Award
Award recognizes President & CEO for visionary leadership in driving modernization, accelerating growth, and delighting agents and policyholders
Frederick, MD, March 1, 2022. Frederick Mutual Insurance Company (FMIC) is pleased to announce its president and CEO, Nancy Newmister, has been recently recognized by Digital Insurance with the Women in Insurance Leadership award. Nancy was selected as an honoree for this prestigious recognition based on her resounding success transforming FMIC into a modern, thriving insurance company.
For nearly 20 years, Digital Insurance's Women in Insurance Leadership program has honored women in insurance leadership roles who innovate to propel their companies, industries, and communities forward. When Nancy took the helm as president and CEO of FMIC in 2016, she aimed to break through old notions about insurance by taking a fresh, modern look at insurance products and packages. In less than five years, she transformed FMIC into a well-positioned organization with increased brand awareness and shareholder value, while charting a transformational business and technical roadmap for the company to double its size. She further modernized the company by going fully paperless. As further illustration of Newmister’s leadership, her collaborative management style also helped win FMIC a Frederick County Best Places to Work award in 2020.
Newmister, a consummate team player, said, “I believe our success is in the team’s commitment and their level of consistency and care, they hold themselves accountable. It takes all of us to make these things work.”
"Nancy has been able to bring a century-old insurance company into the modern day with savvy digital investments and decisions," says Nathan Golia, editor in chief of Digital Insurance. "It's an honor to bring her into our Women in Insurance Leadership pantheon."
Nancy was nominated by one of FMIC’s partners, BriteCore, a leading provider of cloud-based core policy administration systems for P&C insurers. Echoing the praise, BriteCore CEO Ray Villeneuve remarked, "Nancy is a transformational leader. She and the Frederick Mutual team are a shining example of the forward-thinking mutual insurers we strive to work with. Her high level of commitment, partnership, and collaboration through Frederick's core system transformation project is a testament to the professional dedication Nancy and her team bring towards leveraging innovation and growing their business. We congratulate Nancy and FMIC on this prestigious Women in Insurance Leadership honor.”
As an honoree, Nancy was recognized in front of her peers at the DIGIN 2021 Digital Insurance conference this past December. With this recognition, Nancy and her team put FMIC, the mighty mutual, on the map of regional insurance carriers.
About Frederick Mutual Insurance Company
Founded on December 15, 1843, FMIC has continuously operated for 179 years as a mutual insurance company that empowers its policyholders through shared ownership and provides peace of mind in the most trying of times. They work with top agents across the Mid-Atlantic and Southeast region to provide policyholders with products that keep their homes, businesses, and communities safe.
FMIC initially served Maryland, then expanded their operating territory into Pennsylvania, Virginia, Delaware, D.C., and North Carolina. As the third oldest insurance company in Maryland and the ninth oldest in the United States, FMIC’s longevity is attributed to strong financials, derived from safeguarding the interests of our policyholders, and keeping pace with an ever-changing industry.
About BriteCore
BriteCore is a cloud-native platform for P&C insurers that unlocks business growth, enhances the customer experience, and delivers great efficiency gains. BriteCore provides end-to-end support for insurance operations that includes policy administration, an agent and policyholder portal, rapid product configuration, underwriting rules and rating, billing management, claims management, document management, and reporting. As a cloud-native solution, BriteCore is continually updated for maximum security, efficiency, and durability at scale.
FREDERICK MUTUAL INSURANCE COMPANY INTRODUCES FREDERICK MUTUAL SECURE® HOME
A new year has brought new personal lines products at Frederick Mutual Insurance Company. The newly released Frederick Mutual Secure® Home and Personal Umbrella policies offer an array of coverage options and extension endorsements, a simple quoting process for agents which incorporates the e2Value dwelling replacement cost estimator, and ISO loss reporting. “Frederick Mutual has transformed its Homeowner product and partnered with PL Rating, a comparative rating platform, that will allow our independent agents to have direct access to the Frederick Mutual quoting platform through the comparative rater process,” says Nancy Newmister, President & CEO of Frederick Mutual Insurance Company, “the brand-new Frederick Mutual Secure® Home policy is available to qualified homeowners in Maryland, Pennsylvania and Virginia”.
“I am very pleased with the new Frederick Mutual Secure Home Product. The coverages and features of the policy are very updated. Our clients like all of the features and extra coverages offered such as the Service Line coverage and Matching Siding and Roofing coverages." - Anne, General Insurance Group (Maryland)
“Our agency is fairly new to Frederick Mutual and the Secure Home product. We find it to be incredibly competitive in our market with additional coverage options that we previously did not have. The UW process is reasonable and the customer service, exceptional" - Jon, Tobash Insurance (Pennsylvania)
“I deal with multiple quoting platforms, and I have found that Fredrick Mutual has one of the most user-friendly systems!” - Kristin, Steve Love Insurance Agency (Virginia)
Founded on December 15, 1843, Frederick Mutual (FMIC) has continuously operated for 179
years as a mutual insurance company serving policyholders in Maryland, Pennsylvania, Virginia, Delaware, D.C., and North Carolina. FMIC works with respected local independent agents who share the company’s values.
For more information on Frederick Mutual visit www.frederickmutual.com.
Frederick Mutual launches all-new digital risk protection service for policyholders
FOR IMMEDIATE RELEASE
Frederick, MD – January 24, 2022
At a time when risk management is more important than ever, Frederick Mutual has introduced a service to protect their policyholders’ most vital interests. Business Risk Protection, a service from Epoq, Inc., is designed to help small businesses stay compliant and reduce legal liability.
“We recognize that the insurance market is changing rapidly and that our products must keep pace with policyholder expectations. Therefore, we are introducing technology-led services that are high quality, accessible and address the needs of our policyholders,” said Nancy Newmister, President and Chief Executive Officer for Frederick Mutual.
The Business Risk Protection bolt-on service protects small businesses from liability and legal threats by offering real-time drafting of smart documents, such as construction contracts, subcontractor agreements, non-disclosure agreements, formal notices, and leases. For insurers, the service helps them differentiate by providing value that goes beyond coverage. This helps them engage policyholders with high-value digital services they can benefit from immediately and throughout their policy term.
These innovative online services are powered by Epoq, a pioneer in the development of real-time, intuitive legal document drafting services. The Epoq platform uses unrivalled technology that is smart, affordable, and available 24/7. Depending on the complexity of a policyholder’s needs, it could take just twenty minutes to create a valid business agreement that is tailored to their unique circumstances.
Founder of Epoq, Grahame Cohen, says, “Legal is an important part of the life cycle of needs for every business and can be used to innovate insurance products to give an extra layer of protection to the insured and mitigate risk for the insurer.”
For more information on Business Risk Protection visit www.businessriskprotection.com.
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Editor’s Notes:
About Fredrick Mutual Insurance Company
Founded on December 15, 1843, Frederick Mutual (FMIC) has continuously operated for 179 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. FMIC works with respected local independent agents who share the company’s values.
For more information on Frederick Mutual visit www.frederickmutual.com.
About Epoq
Formed in 1994, Epoq (www.epoqtech.com) works with insurers and financial institutions to help them innovate, differentiate, and give greater value to their customers. The company achieves this by offering pioneering digital legal and regulatory document preparation services as an enhancement to its clients' services. With offices in Massachusetts and in London, England, Epoq is respected globally and provides its unique services to over 60 major brands.
For more information on Epoq Inc. and its services visit www.epoqtech.com or connect on Twitter @epoqtech and LinkedIn @EpoqInc.
Winter Weather Tips
As winter storms and low, freezing temperatures batter our region, homeowners and businessowners should prepare themselves for these winter woes:
· Frozen pipes
· Fires
· Power outage
· Slip and falls of others’ on their premises
Frederick Mutual has created a list of tips on prevention for each hazard to help you avoid damages and costly experiences that can arise from improper preparation.
Frozen Pipes
Identifying a Problem
If a faucet is turned on, but no water flows, this can be a sign of frozen pipes!
If a faucet is off, but there exists the sound of running water, this can be a sign of a plumbing leak!
Important Tips
Residents occupying a home or employees in a business must know where the main waterline shut-off is located. Common locations include: inside a garage, basement, laundry room, utility room, or underground in a front or back yard.
Keep the phone number of a licensed plumbing contractor and your local utility company in a visible and accessible location within the home or business.
Prevention – Interior & Exterior
Run a trickle or slow drip of warm water at night from a faucet on an exterior wall.
Drain pipes in seasonal, vacant, or infrequently visited residential or commercial properties.
Close crawl space vents and place insulation over the openings.
Keep garage doors closed to maintain maximum heat (especially when a laundry or bathroom is adjacent).
Open bathroom vanity doors to allow more heat inside, if pipes run along an outside exterior wall.
Leave the heat on, even when the home or business is unoccupied. Set temperatures no lower than 60 degrees Fahrenheit on all thermostats across multiple heat zones.
Caulk gaps around doors and windows or repair weather stripping.
Check the attic, walls, electrical outlets, switch-plates and basement areas for adequate insulation.
Disconnect and store all garden hoses.
Turn off and drain external faucets and sprinkler systems. You may need to call your sprinkler company to blow out any leftover water in the underground lines.
What To Do If Pipes Freeze or Burst
If pipes are frozen, leave the faucets on and immediately call a plumber.
If pipes have burst, turn off water at main valve shut-off.
Turn off electrical appliances near any standing water.
NEVER attempt to heat a frozen pipe with an open flame of any kind!
It’s possible to warm a smaller, frozen pipe with a blow dryer by using a low, warm setting close to the faucet and very slowly working your way out to the most frozen section.
Fire Prevention
Identifying a Problem
If you smell or see smoke, this may signal the start of a fire or one igniting soon!
Important Tips
Make sure your house number or business unit is easily readable from the street for Fire & Rescue staff.
Create a fire escape plan with your family and coworkers. This drill should be practiced once a year.
Test smoke/carbon monoxide detectors once a year for battery life and proper operation.
The List of Nevers
Never leave a fire in a fireplace or in an outside fire pit unattended!
Never leave a burning candle or burner on a stove unattended!
Never smoke in bed!
Never pour water on a grease fire in the kitchen!
Never leave a space or kerosene heater on in an unoccupied home or business!
Never store flammable liquids near a heat source!
Never allow children to play with matches or lighters!
Prevention – Interior & Exterior
Put out cigarette butts completely before dumping into a trash can or flicking in a grassy area.
Do not smoke cigarettes in a home or business where an individual is using medical oxygen.
Leave at least 3-5 feet of area around a space heater away from curtains, plastics or other flammables.
Maintain & clean furnaces, fireplaces and chimneys by hiring qualified and insured contractors.
Check fireplace flue for a tight seal when closed.
Keep flammable liquids sealed and stored properly in areas like garages or storage sheds.
Fix or replace exposed electrical wiring, loose outlet plugs, or frayed extension cords.
Install dual smoke/carbon monoxide alarms on all floors of your home or business.
What To Do If Your Home or Business Has A Fire
Evacuate immediately to an area which is at least a football field length away.
Call 911!
If clothing is on fire – STOP, DROP & ROLL.
If a fire starts in a cooking pan, place a lid over the fire and turn off the burner.
Power Outages
Identifying a Problem
If you are unable to turn on the lights, your appliances have gone out, and the circuit breaker does not work to restore the power you may have a power outage.
Important Tips
Keep flashlights, radios and other necessary equipment.
Keep your phone at a high battery charge so that you are able to call emergency help.
Get a portable generator.
Unplug all appliances.
Winterize your home. Weather-stripping around doors and entryways can prevent cold weather from seeping. Insulate your pipes per the tips mentioned above. In colder areas it is recommend to add insulation to the attic and walls and to replace your front door with an energy efficient door.
How to Stay Safe During a Winter Outage
Notify your locality utility provider of the outage.
Keep yourself warm with layers of clothes. Start with thermal layers and preferably wool socks then overtop a looser knit or water repellant layer, then finally insulated pants and a jacket over top. Remember to also wear a hat, gloves, and boots as a lot of heat escapes from your extremities.
Condense your living space. Try to isolate bodies in your home to a small area, especially if that area of your home has a fireplace. The heat will be able to be retained better in a condensed space.
Cover windows and keep the blinds closed. Windows can be a huge loss of warm air so blocking heat from exiting with heavy drapes or blankets could save a lot of heat.
Keep doors to the outside closed as well as the door to your basement (if you have one) as warmer air can escape to the cool basement.
Slips and Falls
Identifying a Problem
If winter temperatures bottom out and precipitation or water is present, ice, especially black ice, is at risk of forming. Proceed with caution when walking outside and when entering homes or businesses and execute the following tips to prevent costly slips and falls from occurring.
Prevention – Interior & Exterior
Make sure your home or business has installed handrails on stairways and ramps and that they are securely fastened.
Turn off your lawn sprinkler system because if the pipes freeze and create leaks it can create icy patches.
Make sure there is adequate lighting around the premises to see walkways, parking areas, and stairways.
Inspect your gutters and downspouts to make sure they do not drain onto walkways or into parking areas where the water can freeze on the path.
Use nonslip surfaces, such as carpet, on stairs.
Have a plan for removal of snow and ice on sidewalks, stairs, and parking areas.
In entry ways quickly clean up any spills and water that may enter the premises so that visitors will not slip and fall. Post and signs that areas are slippery and are being cleaned.
What to do if someone slips at your home or business
Keep a record of the incident, including who was involved, dates, and circumstances.
If the injury is serious bring the person to the ER or to a walk-in medical clinic or call an ambulance if there is a head or neck injury.
Keep the area the slip occurred blocked off until the problem is resolved.