Headquarters: 1 Preferred Way, New Berlin, NY 13411
http://www.pminsco.com

2009 Direct Written Premiums: $216.2 million

Key Officers: Christopher Taft, President and Chief Executive Officer; Aaron Valentine, Chief Financial Officer; Gary Strong, Vice President and Secretary

Preferred Mutual was first known as the Preferred Mutual Fire Insurance Company of Chenango County, a company founded in 1896 and modeled after the first insurance company in the United States, the Philadelphia Contributionship for Insurance of Houses from Loss by Fire, which was founded by Ben Franklin in 1752.

The company was a mutual fire insurance company owned by the policyholders, giving more coverage at a lower cost than other companies charged at the time, which were operating for the profit of stockholders. The first company employees, founder Frank E. Holmes, his wife, and an office clerk, developed a new format that sold policies through a network of agencies.

Today, Preferred Mutual Insurance Company has more than 200 employees and nearly 400 agents. The company offers a variety of personal and commercial product lines.

Sources: pminsco.com, Hoover’s

Compiled by Life Quotes, Inc. staff