Policyholders of Neena, Wisc.-based Secura Insurance, a mutual company, have voted to approve the company’s plan to restructure to a mutual holding company.
The conversion to a mutual holding company, previously approved by SECURA’s board of directors and the Wisconsin Office of the Commissioner of Insurance (OCI), became effective Jan. 1, 2021.
On the effective date of the restructuring, all policyholders of SECURA, which is now known as “SECURA Insurance Co.,” acquired mutual membership and voting rights in SECURA Insurance Mutual Holding Co. Policyholders of SECURA’s affiliate, SECURA Supreme Insurance Co., will also acquire the same membership and voting rights as policies are issued or renewed after the effective date.
Transitioning to a mutual holding company does not directly impact the company’s board of directors, independent agents, associates, or SECURA’s insurance operations, including policy coverages and rates.
SECURA is represented by than 550 independent insurance agencies in 12 states. The company provides a broad range of competitive commercial, personal, farm, nonprofit, and special events products.
Source: SECURA Insurance Co.
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