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Home > Property Insurance Coverage > Home Owners Insurance > McKillop Mutual
McKillop Mutual
The McKillop Mutual Insurance Company is one of the 47 purely mutual insurance companies in the province of Ontario. The company office is located in the town of Seaforth, Ontario which is midpoint between Stratford and Goderich on Highway. This company is community based and is owned by the policyholders. The policyholders select a board of directors to oversee the operation of the farm mutual. McKillop Mutual has been serving the counties of Huron and Perth since 1876, specializing in farm insurance. Their business has expanded into insurance for your homes, automobiles and small businesses such as contractors, churches, retail stores, and apartments.
Farm mutual insurance companies own their own reinsurance company which is called Farm Mutual Reinsurance Plan Inc. Farm Mutuals also participate in the Fire Mutual Guarantee Fund which stands behind all Farm Mutuals guaranteeing that all policyholder claims will be paid in the event of a catastrophe.
1999 was a very good year for them. All aspects of their business have increased. Their number of brokers has increased from 11 to 15. Their customer base has grown from just over 300 to approximately 500. Their assets under management have grown to over $16 million of client’s money. $10 million in Mutual and Segregated Funds, $3.5 million in GICs and $2.5 million in bonds. In 1999 there were 48 Life Insurance policies placed by our brokers. Their largest challenge to date, is still trying to make the connection with policyholders of their shareholder companies. Farm Mutual Financial Services is your financial services company. They look forward to your continuing support in 2000 and future years.
Ontario’s vehicle impoundment program puts greater responsibility on the owner of the vehicle if someone with a suspended license drives their vehicle. Vehicles driven by persons, whose license is suspended for a criminal code conviction, may be impounded for a minimum 45 days, Vehicle owners will be liable for paying all towing and storage costs if the vehicle is impounded.
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