On March 3rd, 1890, Farmers Fire Insurance Association of Norfolk, Nebraska was formed by a group of Madison County farmers.
Fire was the only peril covered by the policy – lightning was added later.
In March of 1905, North Nebraska Mutual Tornado Insurance Company became a partnered policy with the Farmers Fire policy. In 1915, the name was changed to “Farmers Storm and Tornado Assessment Insurance Association of Madison, Pierce, Wayne, Stanton and Adjoining Counties, State of Nebraska.” In 1926, this partnered policy was changed to Farmers Tornado Insurance Association of Norfolk, Nebraska.
In 1956, Farmers Fire Insurance Association of Norfolk, Nebraska and Farmers Tornado Insurance Association of Norfolk, Nebraska merged to become Norfolk Mutual Insurance Company of Norfolk, Nebraska. Over the next several years, Norfolk Mutual Insurance merged with other mutual companies including Farmers Mutual Insurance Company of Madison, Nebraska in 1959 and Elkhorn Mutual Insurance Company of Norfolk, Nebraska in 1963. Among some of the more recent mergers were Cedar County German Farmers Mutual Insurance Company of Hartington, Nebraska in 1993 and Antelope County Mutual Insurance Company of Neligh, Nebraska in 1997.
For decades, Norfolk Mutual Insurance operated in a small building at 603 Madison Avenue in Norfolk with a staff of one part time person who held the position of Secretary/Treasurer and took care of daily business. Operating decisions, including expenditures and claim payment approval were conducted by the officers and board of directors during special and regular meetings. Agents, who were often directors, not only sold and serviced the policies, but adjusted the claims as well and submitted the claim information to the board for approval.
In 1994, Norfolk Mutual Insurance moved into a new office building located at 300 Benjamin Avenue, in Norfolk. The Board of Directors is made up of local area farmers and business professionals. As a mutual assessment association, there are no stockholders or owners of the company. Profits are retained as surplus reserved to pay policyholder claims.
Through the evolution of 125 years, Norfolk Mutual Insurance has maintained the concept of neighbor helping neighbor, while at the same time growing into a financially strong company providing quality insurance products offered through over 55 independent insurance agencies across Nebraska.