Madison, Wis. — Jan. 16, 2025 — Rural Mutual Insurance Company and Badger Mutual Insurance Company, with a combined 227 years of providing farm, commercial, and personal policies, have finalized their affiliation agreement based on regulatory approval from the Wisconsin Office of the Commissioner of Insurance (OCI) as of January 1, 2025.

The two insurance companies announced their intent to affiliate in October 2024.  Rural Mutual and Badger Mutual each bring unique attributes and value to the affiliation, including their industry knowledge, exceptional customer service, and deep community involvement. A shared vision and culture will ensure collaboration while both Rural Mutual and Badger Mutual retain their distinct brand identities. Leaders of both organizations say that there is a shared commitment to working together to achieve long-term growth and stability for employees, agents, and policyholders.

“Our two organizations have been meeting daily to finalize the details to bring together our two reputable brands for mutual growth,” said Dan Merk, Rural Mutual Executive Vice President and CEO. “We are excited about what the future holds as we begin this new affiliation.”

Rural Mutual adds its financial strength and AM Best A+ rating, seasoned staff, local agents, and operational excellence to the relationship. Badger Mutual contributes an experienced management team and independent agents with an expanded sales footprint in six states outside of Wisconsin. The current ratings of each organization will remain under review until AM Best completes its evaluation of the new relationship post transaction.

“After much anticipation, we are thrilled to officially join forces with Rural Mutual,” said Dan Nigro, CEO of Badger Mutual. “The synergy between both organizations has been outstanding, and I have great confidence in our mutual success as we embrace this amazing opportunity.”

About Rural Mutual Insurance Company

Rural Mutual Insurance Company has been protecting Wisconsin for 90 years and is the state’s No. 1 writer of farm insurance and No. 4 writer of commercial insurance. As an AM Best A+ Superior company, Rural Mutual provides a full line of insurance products exclusively to farms, families, and businesses in Wisconsin. The company is headquartered in Madison, Wisconsin with over 150 local agents across the state.

About Badger Mutual Insurance Company

Badger Mutual Insurance Company has been providing a range of property and casualty insurance products since 1887. The company is headquartered in Milwaukee, Wisconsin, and is represented by over 320 local agencies across seven states: Wisconsin, Illinois, Minnesota, Iowa, Michigan, Arizona, and Nevada.

On this week's Big I Buzz, we are discussing our upcoming Agency Leadership Webinar, the second round of We're All In Small Business Grants and how COVID-19 is impacting U.S. homeowners.

Agency Leadership Webinar Series: State and Federal Election Preview

Join us tomorrow at 10 a.m. as IIAW Government Affairs, Misha Lee and IIABA's Charles Symington give us a preview of the state and federal election. You'll get a peek at some of the election predictions and how those may affect the industry. 

We're All In Small Business Grant

Applications are now open through November 2 for the second round of We're All In Small Business Grants. The grants are available to all eligible small businesses, including those who have previously received the first round of We're All In Grants from WEDC. Priority will be given to businesses hardest hit by the pandemic, such as restaurants and taverns, hair and nail salons and barber shops, and other services. 

Eligibility requirements: 

• be a Wisconsin-based, for-profit business; 

• in 2019, have had 75% or more of company labor costs in Wisconsin and 75% of their assets in Wisconsin; 

• earn more than $0 and less than $1 million in annual revenue (gross sales and receipts); 

• have started operating prior to Jan. 1, 2020 (seasonal businesses should use the highest total FTEs employed during the season); and 

• have filed their 2019 taxes.

To apply, visit revenue.wi.gov. Applications will be accepted until 11:59 p.m. on Monday, November 2. 

New Study Reveals COVID-19 Impact on U.S. Homeowners

A new study from Hippo Insurance and SimpliSafe has found that most Americans (78%) feel a deep lack of security concerning their current situation while over a third (39%) are far more insecure about their financial situation than they were at the beginning of the year. 

According to NU Property Casualty 360, "More than half of homeowners in the U.S. (55%) say the importance of protecting their financial value of their home is more pressing today than when they first bought their house. The study also revealed two in five American homeowners (42%) indicate that they will spend more time at home compared to last year, even when economies reopen following the pandemic. With all this time spent at home, it makes sense that 57% of homeowners prioritized home improvement during the first three months of COVID-19 crisis and continue to place an emphasis on making their homes a place where they want to stay."

For more news, check out the Action News section of our weekly e-newsletter   Big I Buzz.   If you aren't subscribed, click    here     to add your email to our emailing list. We hope that everyone has a great rest of their week!