Cooperative Mutual Insurance Company

Celebrating 75 Years of Service

A lot has happened in the agricultural industry since 1935. Tractors overtook horses and biotechnology became commonplace—causing an explosion in crop yields and disease control. One thing hasn’t changed, though. Cooperative Mutual Insurance Company (CMIC) has been steadfast in its focus on providing solutions for agri-business.

CMIC is celebrating its 75th year in 2010. Its story began in Nebraska during the financially challenging times of the mid-1930s when a group of agricultural cooperatives formed a cooperative to provide an alternative to high-priced property insurance.

Since then, CMIC has evolved to meet the expanding needs of its policyholders across 12 Midwestern states. Casualty lines were added to its coverage package in the early 1990s, and today the company offers comprehensive commercial coverage and a staff of specialists to help agri-businesses manage their risks.

The company will be acknowledging its legacy of service at the company’s February 26 annual meeting in Omaha, NE. Click here to discover more about CMIC’s 75 years of service.

News

Cooperative Mutual Joins the Austin Group
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01.15.2010

Minneapolis, MN - Austin Mutual announced today that it has entered into an affiliation agreement with Cooperative Mutual of Omaha Nebraska. Under the terms of the agreement, Austin Mutual will provide capital support to Cooperative Mutual. In addition, Austin Mutual will assume governance and management authority of Cooperative subject to regulatory and policyholder approval.

"We are excited to add such a quality company to the Austin Group. I am confident that the similar, service oriented, cultures within each company will allow for an easy transition. Cooperative will add diversification and resources that will serve to further strengthen the Austin Group," stated Jeffrey Kusch, Chairman, President and CEO of Austin Mutual.

"Our affiliation with Austin is essential for Cooperative Mutual to continue its long standing mission of providing superior service and innovative products," commented Doug Derscheid, Chairman of Cooperative Mutual. "In addition this will allow us to expand our territories and enhance our products to better serve our policyholders," added Derscheid.

Cooperative Mutual was founded in Nebraska in 1935 by agricultural cooperatives for agricultural cooperatives. The Company continues to provide solutions for agribusiness community across twelve Midwestern states through comprehensive commercial insurance coverage and superior loss control services.

Austin Mutual Insurance Company is a regional property casualty insurer with premium writings in excess of $75 million. Austin Mutual is headquartered in Maple Grove, Minnesota and currently operates in thirty-three states throughout the country.