Poweshiek Mutual’s History
Here for our members for 146 years
Poweshiek County Farmers Mutual Insurance Company was formed January of 1875 when a group of local farmers agreed to insure each others property. If any member of the group experienced loss due to fire or lightning, the rest of the members would equally split the expense. They could not have imagined their meeting would one day serve thousands of farmers and homeowners across the state of Iowa.
“Insurance is part charity and part business, but all common sense.”
- Calvin Coolidge
1875
The first record of minutes from the Poweshiek County Farmers Mutual Insurance Company was on January 28, 1875. The initial policies provided coverage only for losses by fire and fightning.
1884
The early leaders of the County Mutual movement recognized a need for windstorm and hail coverage. A change in the state law was recommended which would permit the formation of a Statewide Windstorm Company.
Led by J.B. Herriman, the Iowa Mutual Tornado and Windstorm Insurance Association (now known as IMT Insurance Co) was formed in 1884 in West Union, Iowa. A separate policy was now available to insure against wind and hail.
1909
Farmers Mutual Reinsurance Company (now Grinnell Mutual Reinsurance Company) was organized to write larger risks and protect policyholders from extraordinarily large assessments in any single year.
The first office of Grinnell Mutual was located in Greenfield, Iowa before being moved to Grinnell in 1934 and managed by the Secretary of Poweshiek Mutual, John Evans.
2010
Poweshiek Mutual expanded from a 518 county mutual that was writing in eight counties in Iowa to a 518A statewide mutual with a 22 county territory in east-central Iowa
2021
Poweshiek Mutual expanded territory, broadened coverages, and increased number of agency partners. Poweshiek Mutual continues to operate as one of the most financially stable mutual insurance companies in the Midwest. The company developed several new partnerships with incredibly strong independent insurance agencies across the state of Iowa.
2022
On January 1st, Poweshiek Mutual merged with Bohemian Mutual Insurance Association. This strategic decision was made as Poweshiek Mutual prioritized stability and sustainability to meet the needs of current and future generations of policyholders.
