Northeast Mutual Insurance Company is a county mutual property insurance company. NEM, as we are often referred to, is one of 14 North Dakota county mutual companies, which is down from 25 companies in 1980. NEM is the product of a multi-company merger in 1999 between Towner County Mutual of Cando, ND, Cavalier County Mutual of Osnabrock, ND and Pembina County Mutual of Cavalier ND.
A fourth county mutual company, LaMoure-Greenfield, merged with NEM in 2001, making Northeast Mutual one of the largest of the remaining county mutuals. NEM currently maintains two offices, one in Cando, ND and the other in LaMoure, ND.
As of 12-31-05, Northeast Mutual insured 518 million dollars of property in 30 counties in central and eastern North Dakota. The company's surplus to policyholders was 2.3 million dollars and the year 2005 produced in excess of 2.2 million dollars in collected premium.
The company distributes its product through 155 professional independant insurance agents and 90 captive agents in central and eastern North Dakota. To contact a agent in your area, please click on Agents in your area.
Grinnell Reinsurance Company of Grinnell, Iowa, reinsures Northeast Mutual for all excess loss. Grinnell is a 400 million dollar reinsurance company specializing in County Mutual Insurance Companies. Grinnell reinsures all fourteen county mutual insurance companies in North Dakota. Please visit Grinnell's web site at www.gmrc.com for further information.
In 2000, Northeast Mutual started RMS, a sub company performing risk management services for Northeast Mutual and other mutual insurance companies in North Dakota. RMS employs four full-time and two part-time employees.
A twelve member Board of Directors headed by President Gerald Peterson of Langdon, ND, controls our Northeast Mutual. NEM employs thirteen North Dakotans with an annual payroll in excess of $250,000.00.
