Paul Stueven, chief operating officer and treasurer of Fairmont Farmers Mutual Insurance Co. of Fairmont, Minn., today assumed the chairmanship of the National Association of Mutual Insurance Companies (NAMIC) at the organization’s annual meeting in San Diego.
Stueven has worked in the insurance industry 35 years and has managed Fairmont Farmers Mutual since 2002. In addition to his board chairmanship of NAMIC, he serves on several Minnesota Association of Farm Mutual Insurance Companies’ committees and serves as a director for Grinnell Mutual Reinsurance Co. in Grinnell, Iowa.
Stueven will serve one year as chairman. He succeeds Stuart C. Henderson, president and CEO of Western National of Minneapolis as chairman.
Speaking to 1,500 insurance company representatives, Stueven stressed the importance of trust between insurance company and policyholder and between NAMIC member company and the association.
“The mutual insurance industry itself is built on trust,” he said. “People have to put their trust in us because we sell them something that isn’t tangible. They cannot show it to their friends or brag about it to their neighbors,”he said.
At the same time, he said, members of NAMIC trust that the organization will spread the word about the benefits of mutual insurance to the regulatory and political arenas. “We trust that it will give us a strong voice that will be heard, and that it will give us the deserved reputation of doing the right thing,” he said.
NAMIC has more than 1,300 property/casualty insurance company members.
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