Company Overview of Employers Mutual Casualty Company
Employers Mutual Casualty Company, doing business as EMC Insurance Companies, provides property and casualty insurance products and services in the United States. It offers business insurance products, including property, liability, auto, crime, errors and omissions, and workers' compensation insurances; and personal insurance products, such as homeowners’, auto, motorcycle, umbrella excess liability, and life insurances. The company also offers group programs; excess and surplus lines; surety and fidelity bonds; third party administration services; workplace life insurance services; and claim services, including local claim services, claims cost management, medical management services, phys...
717 Mulberry Street
Des Moines, IA 50309
Founded in 1911
Key Executives for Employers Mutual Casualty Company
Chief Executive Officer, President, Treasurer and Director
Chief Financial Officer and Senior Vice President
Chief Operating Officer and Executive Vice President
Vice President and President of EMC Reinsurance Company
Vice President and General Counsel
Compensation as of Fiscal Year 2015.
Employers Mutual Casualty Company Key Developments
EMC Insurance Group Inc. and Employers Mutual Casualty Co. Approve Change in the Inter-Company Reinsurance Program Between EMC Insurance's Reinsurance Unit and Employers Mutual for 2016
Nov 4 15
The boards of EMC Insurance Group Inc. and Employers Mutual Casualty Co. approved a change in the inter-company reinsurance program between EMC Insurance's reinsurance unit and Employers Mutual for 2016. The companies' boards also approved a new inter-company reinsurance program between EMC Insurance's three insurance units in the P&C insurance segment and Employers Mutual for 2016. The reinsurance programs are intended to reduce the volatility of EMC Insurance's quarterly results caused by catastrophe and storm losses, and will provide protection from the frequency and severity of such losses. The programs must be approved by regulatory authorities before they become effective. The reinsurance program for EMC Insurance's reinsurance subsidiary will consist of two treaties. The first is a per-occurrence catastrophe excess of loss treaty with a retention of $10 million, a limit of $10 million, 20% co-participation and no reinstatement. The cost of this treaty will be about $2.0 million. The second treaty is an annual aggregate catastrophe excess of loss treaty with a $20 million retention, a limit of $100 million and 20% co-participation. The cost of this treaty will be about $3.1 million. Losses retained under the per-occurrence treaty will inure to the benefit of the aggregate treaty. Only catastrophic events with total losses greater than $500,000 will be subject to the terms of the aggregate treaty. EMC Insurance's reinsurance unit will buy additional reinsurance protections in peak exposure territories from external parties in which coverage is triggered when losses experienced by the insurance industry from a catastrophic event exceed a specified threshold. Any recoveries received from external parties will reduce the amount of losses ceded to Employers Mutual. The net cost of the external reinsurance protection is estimated to be about $4 million. Two semiannual aggregate catastrophe excess of loss treaties will cover the reinsurance program for EMC Insurance's P&C insurance units. The first treaty will be effective from Jan. 1, 2016, through June 30, 2016, and will have a retention of $20 million, a limit of $24 million and a cost of about $6.3 million. The second treaty will be effective from July 1, 2016, through Dec. 31, 2016, and will have a retention of $15 million, a limit of $12 million and a cost of about $1.5 million. All catastrophe and storm losses assumed by the P&C insurance units will be subject to the terms of these treaties, and there is no co-participation provision.
Employers Mutual Casualty Company to Report Q4, 2013 Results on Feb 20, 2014
Jan 27 14
Employers Mutual Casualty Company announced that they will report Q4, 2013 results Pre-Market on Feb 20, 2014
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