By Elisabeth Axiak
Over 155 years ago, a group of farmers decided to pool their money together in case any one of them had an emergency with one of their farms. This way, if there was a barn fire, or weather accident, they could cover the cost for any one or more farmers.
This is how Halwell Mutual started, and we have stayed true to our roots every year along the way, while expanding into home, auto, and commercial insurance.
We are owned by our policyholders and they have the chance to voice their opinions and vote on board membership for the organization at our Annual General Meeting, which is held every Spring.
There are a few fundamental differences between a Mutual Insurance Company and a Stock Insurance company. Since we are owned by our policyholders, we are motivated to make decisions that are in their best interest. Policyholders are the reason we are around, so we look out for them in every way.
Check out our infographic below for all of the perks that go along with being a Mutual Insurance policyholder!
Think you know all about mutuals now?
Take our quiz below to complete the course!
Perks of Mutuals Quiz
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Question 1 of 4
In what decade did Ontario Mutuals start?Correct
Correct! Ontario Mutuals began in the 1860’s, just over 150 years ago.Incorrect
Incorrect. Ontario Mutuals began in the 1860’s, just over 150 years ago.
Question 2 of 4
Which group of people decided to pool their money together in case any one of them had an emergency?Correct
Correct! Farmers decided to pool their money together. This way, if there was a barn fire, they could cover the cost for any one or more farmers.Incorrect
Incorrect. It was farmers who decided to pool their money together. This way, if there was a barn fire, they could cover the cost for any one or more farmers.
Question 3 of 4
What is a benefit of being a policyholder at a mutual insurance company?Correct
Correct! All of these things are perks of being with a mutual.Incorrect
Incorrect – all of the above are perks of being with a mutual!
Question 4 of 4
Who owns stock insurance companies?Correct
Correct! Stockholders own public insurance companies.Incorrect
Incorrect – stockholders are the owners.
If you’d like to be entered into our contest, and get more information about all things Halwell U, please fill out your name and email after you complete the quiz.