WHO WE ARE

THE COOPERATIVE AND MUTUAL INSURANCE ADVANTAGE

Driven by both economic and social concerns, cooperative and mutual insurers are member-owned organizations that care not only about the bottom lines of their businesses, but also about the quality of life of their members in their communities. Cooperative and mutual insurers differ from other kinds of insurers in 3 main ways:

• Ownership by their individual policyholders (mutuals) or by cooperatives and other group-based organizations, rather than by external investors;
• A democratically governed structure ensuring that people, not capital, control the organization and focus on serving the common need of their members;
• Equitable sharing of both gains and losses, with profits being either equitably distributed to members, added to reserves or share capital, invested in improving services or lowering premiums, and promoting the well-being of members' communities.

Historically, cooperative and mutual insurers were created to provide access to insurance protections to underserved populations. Today, an important focus of ICMIF/Americas is to help people-based organizations reach and serve populations who currently have no access to insurance protections. In both developed and developing countries, people who are most in need of insurance are those least able to afford it.

Formed by credit unions, cooperatives, associations, mutual organizations and farmers groups to serve low income populations without access to insurance protections, ICMIF/Americas member companies are a sustainable and highly effective way to develop appropriate and affordable insurance products to reduce the personal and business risks of low-income rural/urban households and microenterprises.

ICMIF/Americas offers technical assistance and educational opportunities to new and emerging cooperative and mutual insurers based on the principle of mutual self-help. ICMIF/Americas responds to requests from cooperatives, credit unions, trade unions and other people-based groups throughout the hemisphere that ask for assistance in forming their own insurance agency, department or company. Over the past 25 years, ICMIF/Americas has played a leading role in the creation and expansion of eight insurers throughout the Americas.

ICMIF/Americas also fosters the professional development of members through an annual conference as well as periodic seminars and workshops. These meetings provide opportunities for executives, managers and board leaders of member companies to share ideas and experiences to better equip themselves to provide modern and competitive insurance protection.

ICMIF/Americas
The International Cooperative and Mutual Insurance Federation (ICMIF)/
Regional Association for the Americas
formerly The Americas Association of Cooperative/Mutual Insurance Societies (AAC/MIS)
8400 Westpark Drive, Second Floor, McLean, Virginia, 22102-5116 USA
Telephone: +1 703-245-8077; Fax: +1 703-610-0211; E-mail: info@icmifamericas.org