A.I.M. Mutual is the largest writer of workers’ comp. insurance in the Commonwealth
The Massachusetts Insurance Federation has welcomed A.I.M. Mutual Insurance Companies, to its member ranks. The top writer of workers’ compensation insurance in Massachusetts, A.I.M. Mutual joins the Commonwealth’s largest property and casualty insurance trade association as its 27th member.
“The Federation is pleased to have a strong, Massachusetts-based industry leader join our ranks and strengthen our position as the leading voice of the property/casualty and workers compensation insurance industry,” according to MIF Executive Director John Murphy.
Founded in 1989, Burlington-based A.I.M. Mutual has grown over the past 27 years to become the leading workers compensation and employers liability insurance coverage partner in Massachusetts. As the number one writer of workers’ compensation in the state, the insurer maintains a majority share of the marketplace. In joining the MIF, the company looks forward to working with the trade association on issues affecting the workers’ compensation marketplace.
“We are looking forward to working with the Federation on all of the regulatory and legislative challenges our industry currently faces in Massachusetts,” according to A.I.M. Mutual President & CEO Michael Standing. “As leaders in the public policy discussions that affect our industry, MIF will be an effective partner in our ongoing efforts to stabilize worker compensation costs for employers and their employees.”
The workers’ compensation insurer has an A (Excellent) rating from A.M. Best
Sponsored by AIM, A.I.M. Mutual was formed in 1989 as a reciprocal, with only the initial capital being contributed by AIM and the reciprocal’s policyholders. Today, the company is an A-rated insurer with $500 million in assets and $180 million in surplus – the signs of an insurer’s promise to pay. As the largest writer of workers’ compensation insurance in the Commonwealth, A.I.M. Mutual has approximately 160 employees and more than 19,000 policyholders in the three states of Massachusetts, New Hampshire and Connecticut.
Based in the Commonwealth, A.I.M. Mutual has four service offices here in Burlington, Bridgewater, Holyoke and Marlborough. According to the company, it employs one of the largest safety staffs in Massachusetts charged with working closely with policyholders to identify potential safety hazards in the workplace, while helping to keep businesses in compliance with current state and federal law.
More about the Massachusetts Insurance Federation
Founded in 2003, the MIF is the leading public policy trade association for the property/casualty insurance industry in Massachusetts. Over the last decade, the association has grown from six to 27 members. With the addition of its 27th member, the member companies, currently write over $7.5 billion in property and casualty insurance premiums in Massachusetts. They represent three-fourths of private passenger auto insurance premiums in the state, almost two-thirds of both homeowners’ and workers’ compensation business written in Massachusetts, and more than three-fourths of medical malpractice insurance premiums written by licensed insurers.