Overview
What is National Association Of Mutual Insurance Companies Inc?
The National Association of Mutual Insurance Companies Inc, based in Indianapolis, Indiana, is a leading property-casualty insurance trade association. With a mission to enhance the health and performance of the industry, they focus on advocacy, education, and association services. Their government affairs unit engages in advocacy, lobbying, issue management, and public affairs, influencing policy at the federal and state levels. Additionally, NAMIC offers education and certification programs for boards, executives, management, and technical staff. They also provide insurance business support services, including professional liability insurance, compliance, and employee benefit programs. These efforts are carried out through their 501(c)6 parent organization and related subsidiaries.
Official website here: www.namic.org
Is National Association Of Mutual Insurance Companies Inc legitimate?
National Association Of Mutual Insurance Companies Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. National Association Of Mutual Insurance Companies Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $3,220,017
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,351,408
For more financial information, click here
Official website here: www.namic.org
What is the mission statement of National Association Of Mutual Insurance Companies Inc?
The National Association of Mutual Insurance Companies Inc (NAMIC) functions as a trade association in the property-casualty insurance sector, spearheading initiatives in advocacy, education, and association services. NAMIC's mission is geared towards enhancing the health and performance of the property-casualty insurance industry. They accomplish this through various channels, including advocacy and lobbying efforts at the government level, public affairs, issue management, and federal and state grassroots initiatives. Additionally, NAMIC offers educational and certification programs for boards, executives, managers, and technical professionals. Furthermore, they provide business support services, such as professional liability insurance, compliance, and employee benefit programs.
Official website here: www.namic.org
Who is the CEO of National Association Of Mutual Insurance Companies Inc?
Jennifer Hamilton is the CEO of National Association Of Mutual Insurance Companies Inc The CEO's salary of National Association Of Mutual Insurance Companies Inc is $0 and their total compensation is $360,399.
Official website here: www.namic.org
What is the revenue of National Association Of Mutual Insurance Companies Inc?
National Association Of Mutual Insurance Companies Inc's revenue in 2023 was $22,628,366.
Official website here: www.namic.org
Who are the executives of National Association Of Mutual Insurance Companies Inc and what are their salaries?
The average compensation at National Association Of Mutual Insurance Companies Inc during 2023 was $96,104. There are 110 employees and 27 volunteers at National Association Of Mutual Insurance Companies Inc.
Here are 38 key members and their salaries (National Association Of Mutual Insurance Companies Inc's CEO's salary is $0 and their total compensation is $360,399):
- Compensation: $744,027
- Related: $400,630
- Other: $59,725
- Compensation: $527,048
- Related: $0
- Other: $44,061
- Compensation: $319,351
- Related: $106,450
- Other: $43,262
- Compensation: $261,542
- Related: $140,830
- Other: $35,283
- Compensation: $346,297
- Related: $0
- Other: $39,080
- Compensation: $339,325
- Related: $0
- Other: $41,231
- Compensation: $0
- Related: $338,841
- Other: $21,558
- Compensation: $187,189
- Related: $100,794
- Other: $23,822
- Compensation: $235,555
- Related: $0
- Other: $13,758
- Compensation: $223,757
- Related: $0
- Other: $21,672
- Compensation: $94,514
- Related: $50,893
- Other: $32,003
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Official website here: www.namic.org
Where can I find the form 990 for National Association Of Mutual Insurance Companies Inc?
National Association Of Mutual Insurance Companies Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.namic.org
Learn more at the official website: www.namic.org
Mission Statement of National Association Of Mutual Insurance Companies Inc
The National Association of Mutual Insurance Companies Inc (NAMIC) assumes a pivotal role in the property-casualty insurance sector, championing advancements through advocacy, education, and association services. Established as a trade association, NAMIC heads its members' initiatives to fortify the insurance industry's health and effectiveness.
NAMIC's primary focus lies in government affairs, encompassing lobbying, advocacy, issue management, public affairs, and both federal and state grassroots efforts. These efforts, as described in their mission, aim to enhance the property-casualty insurance industry, ensuring it remains robust and responsive to the ever-evolving landscape. They achieve this through their parent organization, as well as subsidiaries and other related entities.
Additionally, NAMIC is dedicated to education and certification, offering programs for boards, executives, management, and technical professionals. These initiatives provide industry expertise and knowledge, enabling members to excel in their respective roles. Furthermore, NAMIC offers insurance business support services, including professional liability insurance, compliance, and employee benefit programs, catering to the diverse needs of its membership.
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Impact
October, 2024
The National Association of Mutual Insurance Companies Inc (NAMIC) plays a significant role in the property-casualty insurance sector by providing essential leadership in advocacy, education, and association services. Its impact is evident through a range of initiatives designed to enhance the industry's overall health and performance.
Through active government affairs, NAMIC leads member efforts in advocacy and lobbying, addressing critical public policy issues that affect insurers at federal, state, and international levels. This includes conducting issue research, managing advocacy efforts, maintaining congressional contacts, and coordinating political action programs. Such activities ensure that the voices of mutual insurers are heard in legislative discussions and that their interests are represented effectively.
Moreover, NAMIC focuses on education and certification for professionals within the industry, offering programs for boards, executives, and management personnel. This emphasis on education helps to elevate industry standards and practices, ultimately contributing to better service delivery and operational excellence among member companies.
In addition to advocacy and education, NAMIC provides valuable business support services, including professional liability insurance, compliance assistance, and employee benefit programs. These services empower member companies to navigate industry challenges more effectively and maintain a competitive edge.
Overall, NAMIC's comprehensive approach to advocacy, education, and support fosters a stronger and more resilient property-casualty insurance landscape, benefiting both the industry and the communities it serves.
This information is meant to be a general summary of National Association Of Mutual Insurance Companies Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $171,962
- Program Service Revenue: $22,377,993
- Gross Receipts: $22,629,248
Assets and Liabilities:
- Total Assets: $22,000,768
- Total Liabilities: $4,428,423
- Net Assets: $17,572,345
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$14,547,000
EDUCATIONAL MEETINGS/SEMINARS
Revenue
$7,675,893
PUBLICATIONS
Revenue
$155,100
Organization Details
Founding Year
1919
Principal Officer
Neil Alldredge
Website
www.namic.orgNTEE Category
Code: S41 - Community improvement
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