History of N.C. Grange Mutual Insurance
Company
“After
many long and difficult meetings, on September 15, 1934, a
certificate of incorporation was filed for the Grange Mutual
Fire Insurance Association of North Carolina, Inc. This was a
time when county mutuals were experiencing real financial
difficulties and going under. Two weeks later, on September
27, the 1934 Convention of the North Carolina State Grange
adopted a resolution to give full support to the statewide
mutual fire insurance association.”
“On
February 15, 1935 the first policies were officially issued. A
total of 113 policies were issued as of that date.” We still
insure several of those properties including the very first
policy issued. In that same year, we paid our first
claim.
“The
charter was amended in 1947 to change the name of the company
to "N.C. Grange Mutual Insurance Company," which has been the
name ever since.”
“Premiums
collected by N.C. Grange Mutual exceeded $1 million in 1978
for the first time. Policies issued and premiums collected
continued to increase. In 1982, premiums exceeded $2 million
dollars.”
“The N.C.
Grange Mutual Insurance Company celebrated its 50th or golden
anniversary September 28, 1984 with Governor James B. Hunt, as
special guest.”
“This
comment was placed in the record in 1984 on the occasion of
the companies 50th Anniversary: ‘It is obvious from the long
years of support that N.C. Grange Mutual is more than just an
insurance company. It is people of a kindred mind and spirit
coming together, working together, and insuring their property
in a mutual, cooperative manner.’”
In 1991,
N.C. Grange Mutual contracted with General Reinsurance (now
GeneralCologne Re) to provide our reinsurance protection. One
of the largest reinsurers in the world, they have worked with
the company through two of the worst catastrophes to hit the
state of North Carolina - Hurricane Fran in 1996 and Hurricane
Floyd in 1999.
During the
year 2000, N.C. Grange Mutual reached a milestone in the
company’s history. In 1978, the company wrote $1 million in
premium during the year for the very first time. In 2000, the
company wrote $1 million per month. The company was able to
translate this increase in premium to the largest increase in
surplus in the company’s history.
Niles A.
Whittaker, Retired Vice President and current Board member
says: “We are small compared to many companies, but we are
flexible and able to meet your needs in a prompt and courteous
manner.”
Humphries,
Bill. The Grange in North Carolina 1954-1989. (Greensboro, NC
1990) pp. 100-105.
Catastrophic Events that have affected North Carolina
during our history:
1954 - Hurricane Hazel
1984 -
Tornado March 28, Robeson and Hoke counties
1989 -
Hurricane Hugo losses exceeded $4 million.
1993 - Winter
Storm Josh
1996 - Hurricane Bertha in July
Hurricane
Fran in September (losses from Fran exceed $18
million)
1998 - Hurricane Bonnie
1999 - Hurricane
Floyd
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