Amica Insurance
Amica Insurance
100 Amica Way
Lincoln, RI
02865 United States
Phone: 401-334-6000
Fax: 401-334-4241
Rhode Island, 1907. A man named A.T. Vigneron had the foresight that American society will eventually have horseless carriages. Because of this he set up the Automobile Mutual Insurance Company of America or Amica for short. The company sought for policyholders that were responsible and thus reciprocate this by providing responsible service.
The Amica of today is the result of the merging of two sister companies: Automobile Mutual Insurance Company of America and the Factory Mutual Liability Insurance Company of America in 1973.
The company’s business strategy is by training its employees to provide efficient and responsible service by selling policies directly to its customers. What makes this different from all the other companies is that dividends are distributed to the customers and not to its stockholders.
Due to the different market changes that have happened throughout the decades the company was prompted to change its business strategy several times. In 1940 it started opening branches and provided homeowners coverages in the 1950s. It later extended its products to include maritime liability and personal umbrella liability. Amica Life Insurance Company was then founded in 1968 and was brought under Amica Mutual.
The growth of diverse insurance needs prompted the company to establish more subsidiaries which are The Amica General Insurance Agency of California, Inc., Amica Lloyd’s of Texas, The Amica General Agency, Inc., and Amica Property and Casualty Company, Inc.
With 3,000 employees all over the United States, Amica is now known as the oldest insurer of automobiles.
The company has received the highest rating of A++ by A.M. Best Company. This kind of rating is given only to companies that have proven financial strength and market profile which have the capability of meeting obligations to policyholders.
With its mission of enhancing the financial security of its policyholders, the company abides by the principles of offering superior products with the highest quality of service by promoting the professionalism, dedication, and well-being of its employees who in turn adhere to the highest morals and ethical standards of a sound business practice.
Amica’s mission is to enhance the financial security of its customers by offering personal insurance protectionat the lowest reasonable cost. This is being consistent with its aim of exercising sound financial management.
In 2009 the company had a net income of $121,740,013 which already includes capital gains realized.
Its key officers and board of directors are Patricia W. Chadwick (President), Jeffrey P. Aiken, Attorney at Law, Thomas A. Taylor (President and Chief Executive Officer), Andrew M. Erickson (Senior Executive Vice President), Barry G. Hittner, J.D. (Of Counsel), Cheryl W. Snead (President and Chief Executive Officer), Michael D. Jeans (President, New Directions, Inc.), chard A. Plotkin (CPA/PFS Director, CBIZ Tofias & Principal, Mayer Hoffman McCann P.C. – Tofias New England Division), Edward F. DeGraan (Vice Chairman—Gillette), Ronald K. Machtley, Donald Julian Reaves, Ph.D. (Chancellor, Winston-Salem State University), Robert A. DiMuccio (Chairman, President and Chief Executive Officer).
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- Waiting Period
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