This page is introduced with the purpose of informing
present and potential policy holders on some of the happenings
that affect Albany Mutual Insurance Company.
Your directors are currently taking training toward receiving certification by NAMIC (National Association of Mutual Insurance Companies). Certification simply means that a director has become knowledgeable regarding the many issues that confront a board. Examples might be: Duties of directors of a corporation, state statutes, Department of Commerce rules, reinsurance, articles and by-laws, investment policy, hiring of managers, etc.
This training improves the efficiency of all directors and reduces the ‘break in time’ that is needed by new directors. This is especially important now since few directors being seated on our insurance boards today have experience in the insurance industry — as opposed to the distant past when many directors were agents. And of course, the insurance industry is becoming more complicated than it was in the past.
Your board has been considering the use of mail ballots for the election of directors. The system would be similar to those used by many agencies such as credit unions and fraternal organizations and would include a short biography of the individuals running for office. The advantage of using mail ballots is that it would allow members who find it difficult to attend meetings because of problems such as work schedules, parenting conflicts and distance constraints to vote in our elections. When Albany Mutual started, it involved five townships in the immediate area. Now we serve 125 townships in eight counties. To give all members in this far-flung business territory an equal opportunity to vote would be desireable and democratic.
The down side of mail balloting would be a little more work for our manager and a moderate cost in printing and mailing.
With the high cost of fuels and the sad state of the economy, wood burning is becoming more popular again. This has a cost advantage for financially pressed citizens, but it is also a cause for concern among insurance companies, especially our reinsurance companies. The problem is not necessarilly that solid fuel burning is more dangerous than gas or oil when properly used. But rather, there are still solid fuel heating systems that are not properly constructed, installed or used.
If you are currently using or intend to use wood or other solid fuels to heat your home or other buildings, please check with your agent or our office to be sure that your system is safe. There is a booklet that is available at our office that goes into detail on the installation and use of solid fuel burning systems.
Fires caused by wood burning generally fall into these categories:
Improper installation of or an improperly designed unit. (No barrel stoves, please. Clearances between the heating unit or smoke pipe and flamable surfaces must be according to code and must be served by a proper chimney.)
Improper maintenance such as a creosote laden chimney or rusted stove pipes.
Trash or fuel near the heating unit.
Improper removal and disposal of ash. (Use covered metal containers away from buildings or flamables.)
Overloading or leaving a stove or fireplace burning without attention.
The Minnesota Association of Farm Mutual Insurance Companies (MAFMIC) and the Minnesota Department of Commerce are working on proposals to update Minnesota Statute 67A which governs insurance companies such as ours. A major change would be to establish sales territories on a county-wide basis rather than townships. This would allow a company to provide insurance in an entire county rather than just selected townships. It would greatly simplify an agents work, since borders of townships are not always well defined. It also would increase the sales area in companies such as Albany Mutual — a good thing.
We are initiating a list of members who would be interested in
serving their company either as a board member or as a volunteer
on committees or at functions. From time to time the board of directors
must appoint a director from the membership to fill an unexpired
term and it would be useful to know of people who are willing to
serve. If you are interested in being considered for a board position
or as a volunteer, please let us know. And ladies, remember that
you too are members who are eligible to serve. Many companies are
benefitting from the perspective of women on their boards - we
can also. Contact me at rmgrabmeier@albanytel.com for information or inquire
at the corporate office.
Wondering about something regarding the company?
Contact a board member for an accurate answer. They can give you
the information you want unless it is business confidential or
it violates personal privacy.
