Utica Mutual is native to the Mohawk Valley, but has spread its insurance business across the US since its 1914 beginnings. As principal member company of the Utica National Insurance Group, Utica Mutual specializes in commercial and personal property/casualty insurance. Its specialty coverage includes products tailored for such groups as child care centers, printers and other graphic communications businesses, schools, and volunteer fire departments. It operates through Graphic Arts Mutual Insurance, Republic-Franklin Insurance, Utica National Assurance, Utica National Insurance Company of Texas, and other subsidiaries. The group sells its products through some 1,475 independent agents and brokers.
Utica Mutual also dominates in a singular niche: providing Errors and Omissions liability insurance and protection for insurance agents and brokers. Other specialties include coverage for cyber breach and loss or theft of personally identifiable information, bonds (contract and commercial surety bonds and fidelity policies), coverage for auto repair shops, and workers' compensation.
The company grew both its product lines and geographic reach in 2010 when it acquired Nationwide Holdings, Inc., the holding company for Founders Insurance of Des Plaines, Illinois, and Founders Insurance Company of Michigan. Founders specializes in property/casualty insurance, particularly non-standard personal automobile policies for customers in the Midwest. It also writes commercial liability and property lines with an emphasis on liquor liability. Utica operates Founders as a stand-alone business.
Other products added in 2010 included programs for janitorial services, kidnap expense coverage, and personal and commercial green coverage among others. Initiatives in the works include expanding its motorcycle program and a new small contactors product. The company has also made technology investments to improve automation and ease of use for its agents and is upgrading its workers' compensation and commercial auto lines to online policy systems.
Utica National Insurance Group had assets of $2.7 billion in 2010; its policyholders' security fund exceeded $815 million. – less