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Home > Property Insurance Coverage > Home Owners Insurance > Wisconsin Reinsurance Corporation
Wisconsin Reinsurance Corporation
Wisconsin Reinsurance Corporation was formed in 1931 by a dozen Town Mutual insurance companies in Wisconsin who were interested in protecting each other against fire losses. The risks the Mutuals insured quickly grew in size and WRC responded by increasing the capacity of the risks that could be insured. This pooling concept was later formalized into reinsurance arrangements. Over the years, as the Mutuals were able to write new lines of business, WRC added reinsurance protection for windstorm, liability, umbrella, workers compensation and commercial property and liability. WRC continues to meet the reinsurance needs of the Mutuals through innovative reinsurance agreements and increased reinsurance capacity.
WRC recognized that its reinsured mutuals needed additional services and support, so in 1984, WRC began the WRC Agency to provide an outlet for the lines of the business the Mutuals could not write. Another member of the WRC Group, the Wisconsin Adjusting Service, Inc. was incorporated in 1986 to assist client mutuals in the adjustment of liability claims. WRC Systems was incorporated from two software companies to provide computer systems customized for the Mutual insurance industry.
Wisconsin Reinsurance Corporation was demutualized and became a stock corporation in 1991. This enabled it to obtain additional capital and increase its financial strength in order to reinsure the larger, more complex risks that the Mutuals were insuring. In the same year, 1st Auto & Casualty Insurance Company was formed to provide automobile and umbrella insurance protection to the policyholders of the Mutuals.
The WRC Group continued its service to the Mutual industry by becoming admitted and reinsuring companies in the additional states of Arkansas, Iowa and South Dakota. The Group will continue to adapt to the changing needs of the Mutuals that it serves.
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