BUCYRUS, OH (CRAWFORD COUNTY NOW)—In a recent podcast, Randy sat down with Todd Boyer from Ohio Mutual Insurance to discuss the company’s history, current challenges, and future prospects. Ohio Mutual, headquartered in Bucyrus since 1909, was founded in 1901 and has grown steadily over the years, thanks to its stable leadership and long-term vision.
The conversation highlighted the recent appointment of Ohio Mutual’s President and CEO, Mark Russell, as the Chair of the National Association of Mutual Insurance Companies (NAMIC) for 2025. This prestigious role allows Russell to influence key discussions and testify before Congress on behalf of the property and casualty insurance industry. Notably, this is the second time an Ohio Mutual leader has held this esteemed position, following former CEO Jim Kennedy’s tenure in 2011-2012.
Boyer discussed the significant challenges the insurance industry has faced in recent years, including extraordinary weather losses and high inflation. Ohio Mutual experienced its largest one-day loss in March 2024, with nearly $25 million in claims due to tornadoes in Ohio. Despite these setbacks, the company maintained its financial strength, earning an “A” rating from A.M. Best for the 32nd consecutive year.
The podcast also touched on the impact of the recent Los Angeles wildfires, which could result in up to $50 billion in insured losses. Additionally, Boyer shared insights on how Ohio Mutual is leveraging artificial intelligence to improve efficiency and enhance operations.
Looking ahead to 2025, Boyer expressed optimism about the future, emphasizing the company’s commitment to serving its members and navigating the evolving landscape of the insurance industry.
For more information about Ohio Mutual Insurance Group, visit their website at omig.com.
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