Amica Insurance Will Pay Dividends on Massachusetts Automobile Policies.LINCOLN, R.I.--(BUSINESS WIRE)--Dec. 1, 1997-- Dividends Totaling $4.4 Million Will be Sent to The Mutual Insurance Company's 77,676 Bay State Automobile Policyholders In addition to mandated rate decreases imposed by the Massachusetts Insurance Commissioner for 1997, the board of directors of Amica Mutual Insurance Amica Mutual Insurance is a mutual insurance company founded in 1907 and located in Lincoln, Rhode Island offering primarily auto, home, and life insurance. The company is licensed in 49 US states with most business concentrated in the Northeastern United States, Florida, Texas, Company has authorized dividends to be paid for its Massachusetts automobile policies. The announcement was made today by Thomas A. Taylor, Amica president and chief executive officer. Dividend checks totaling $4.4 million will be sent to Amica's 77,676 automobile policy holders in Massachusetts as their policies expire in 1998 (dividend checks for any 1997 policies that already have expired or terminated will be mailed between Dec. 19 and Jan. 1). This is the fourth consecutive year that Amica has paid a dividend to its Massachusetts automobile policyholders. "Amica's operating philosophy has been, and will continue to be, to share the financial benefits of a strong performance with our policyholders. We're particularly pleased to be able to pay this dividend in addition to the insurance rate decreases imposed in the Bay State," explained Taylor. "Our goal is to operate in a fiscally responsible manner while providing the best personal service at the lowest cost to our policyholders." For private passenger policies with 1997 inception dates, the dividend represents 30 percent of the earned premium Earned premium is the portion of an insurance written premium which is considered "earned" by the insurer, based on the part of the policy period that the insurance has been in effect, and during which the insurer has been exposed to loss. for "Optional Bodily Injury to Others" coverage. Amica was founded in 1907 and is the nation's oldest mutual insurer of automobiles. The company, with corporate headquarters in Lincoln, Rhode Island Lincoln is a town in Providence County, Rhode Island, United States. The population was 20,898 at the 2000 census. Lincoln is located in northeastern Rhode Island, and is north of Providence. , is a national writer of automobile, homeowners, marine and personal umbrella insurance refers to insuring more than one property as opposed to insuring only one. For example the owner might get a discount for insuring both his house and car rather than insuring them with separate policies because it might cost more. . Amica employs more than 3,000 people in 40 offices across the country. For the past 75 years, Amica has received A.M. Best Company's top rating for financial performance; the company also recently was named to the Ward's 50 Benchmark Group which recognizes the top 50 performing insurance companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . It has been writing insurance in Massachusetts since 1925, and operates branch offices in Wellesley, Raynham, West Springfield West Springfield, town (1990 pop. 27,537), Hampden co., SW Mass., on the Connecticut River opposite Springfield; settled 1654, set off from Springfield and inc. 1774. Light manufactures include paper, chemicals, and ignition systems. and Worcester. CONTACT: Amica Mutual Insurance Company Dale Huff huff - To compress data using a Huffman code. Various programs that use such methods have been called "HUFF" or some variant thereof. Opposite: puff. Compare crunch, compress. , 401/334-6000 x4235 or 1-800-242-6422 |
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