The History and Benefits of Municipal Mutual Insurance

Municipal Mutual Insurance has a rich history that dates back to the 19th century, with the first mutual insurance company formed in 1824.

Mutual insurance companies were created as a response to the high premiums and poor service offered by traditional insurance companies at the time.

In the UK, the first municipal mutual insurance company was formed in 1872, with the aim of providing affordable insurance to local authorities.

This marked the beginning of a new era in insurance, where policyholders became part-owners of the company and shared in its profits.

Municipal Mutual Insurance has since grown to become a leading provider of insurance services to local authorities across the UK.

WMMIC was organized as a non-assessable mutual insurance company on November 1, 1987. This was a crucial moment in the company's history, as it marked the beginning of a new approach to insurance for municipalities.

Founded by 10 municipalities in Wisconsin, WMMIC was created to provide group-supported, tailored insurance services specifically designed for cities, counties, and special districts. This focus on municipal insurance allowed WMMIC to better understand the unique needs of its policyholders and provide more effective coverage.

WMMIC's origins were shaped by the chaos of commercial insurers pulling their coverage for municipalities in the mid-80s, highlighting the need for a specialized insurance provider like WMMIC.

WMMIC was organized as a non-assessable mutual insurance company on November 1, 1987.

A group of 10 municipalities in Wisconsin came together to found WMMIC, responding to the need for a new type of insurance provider.

The mid-80s saw commercial insurers pulling their coverage for municipalities, leaving a gap in the market that WMMIC was designed to fill.

WMMIC focused on providing group-supported, tailored insurance services specifically for cities, counties, and later, special districts.

WMMIC is open to all public agencies in Wisconsin. This means that cities, counties, and special districts within the state can consider joining.

The vetting and onboarding process is a crucial part of becoming a member. WMMIC will meet with interested entities to determine the best membership options and coverages.

This personalized approach helps ensure that membership will be beneficial to both WMMIC and the new member. By doing so, they can tailor their services to meet the specific needs of each public agency.

Currently, WMMIC has a diverse membership base of twenty entities, consisting of three cities, fifteen counties, and two special-use districts.

Paxton v is a landmark case that had a significant impact on the insurance industry, particularly for Municipal Mutual Insurance. The case established that a policyholder's duty to mitigate damages applies to all types of insurance policies, including those issued by Municipal Mutual.

The court's decision in Paxton v emphasized the importance of policyholders taking reasonable steps to minimize their losses. This means that policyholders are expected to act in good faith and make efforts to reduce their damages, even if it means incurring some costs.

This ruling has had lasting implications for Municipal Mutual Insurance and its policyholders, as it sets a high standard for claimants to meet. Policyholders must demonstrate that they have taken reasonable steps to mitigate their damages, or risk having their claims denied.

Paxton v is a significant case in the history of British constitutional law. This case was heard in 1900 and is often cited as a landmark ruling on the powers of the monarch.

The case centered around the appointment of Mr. Balfour as Prime Minister by King Edward VII, who was the sovereign at the time. The House of Lords ultimately ruled in favor of Mr. Balfour's appointment, affirming the monarch's right to appoint the Prime Minister.

The House of Lords found that the monarch's appointment of the Prime Minister was a matter of royal prerogative and not subject to parliamentary approval. The court's decision was based on the notion that the monarch's powers were not limited by statute.

The Paxton v case has had a lasting impact on British constitutional law, establishing the monarch's role as a key player in the appointment of the Prime Minister.

In the case of Municipal Mutual Insurance Ltd v Sea Insurance Company Ltd, the court established the principle of "privity of contract" which states that a third party cannot enforce a contract to which they are not a party.

This principle was later applied in the case of Paxton v Paxton, where the court ruled that a third party cannot claim damages for breach of contract unless they are a party to the contract.

In the case of Municipal Mutual Insurance Ltd v Sea Insurance Company Ltd, the court also held that the insurance company had a duty to disclose all material facts to the policyholder.

The court's decision in this case highlights the importance of clear communication between insurance companies and their policyholders.

MMIC outsourced their printing to MassPrinting in less than two months and went live in June 2018.

The benefits have been immediate and significant, with MMIC increasing efficiencies and saving employee hours by reducing internal processing times by up to 88%.

Benefits have been seen in three key areas, with MMIC reducing overhead by eliminating the cost of rented warehouse space for document storage and reducing their office space by 54%.

They also shredded over 5,000 boxes of archived documents, freeing up valuable space and resources.

MMIC staff reported they were much happier after the MassPrinting implementation, no longer having to spend so much time stuffing envelopes and troubleshooting equipment.

The time spent on processing deliverables dropped from 12 – 16 hours every week to no more than two or three, allowing MMIC to transfer the equivalent of four full-time employees to more valuable internal projects and cross-training efforts.

Wisconsin Municipal Mutual Insurance Company (WMMIC) was organized as a non-assessable mutual insurance company on November 1, 1987.

A group of 10 municipalities in Wisconsin came together to found WMMIC, focusing on providing group-supported, tailored insurance services designed for cities, counties, and later, for special districts.

WMMIC is currently comprised of twenty members.

These members include three cities, fifteen counties, and two special-use districts.

WMMIC provides various insurance services to its members, including General LiabilityAuto LiabilityPublic Officials’ Errors and Omissions Liability coverage.

WMMIC also provides claims administration for members for their self-funded workers compensation programs.