Pharmacists Mutual

OUR MISSION: To help our customers attain financial peace of mind.

The year was 1898 when a young man named Albert Falkenhainer moved west to Titonka, Iowa, to open the town's first business: a drug store. Four years later when that store was destroyed by fire, he learned firsthand about the often painful experiences encountered by druggists seeking insurance: difficulties with loss settlements, poor service, and excessive premiums.

Falkenhainer did rebuild his drug store, and during the process, another new business was born. He obtained a mutual insurance company charter in 1909 and began offering policies to pharmacists that same year. Falkenhainer's philosophy was simple, yet powerful: Be the best at serving your customers. From its earliest days, Druggists Mutual Insurance Company was dedicated to the pharmacy profession and the "mutual" concept.

Since its beginning, Druggists Mutual Insurance, has had a unique understanding of druggists insurance and financial needs. The name changed in 1992 to Pharmacists Mutual but the company continues to evolve with the changing needs of today’s pharmacists. Practicing pharmacists serve on the Board of Directors. Our on-staff pharmacist/attorneys stay in touch with current legislation and litigation trends that affect you. Pharmacists Mutual field representatives serve as your link to the company and have years of experience with your profession.

Our Board of Directors, officers and employees abide by our Code of Ethics and are committed to conducting business in accordance with the highest ethical standards. Pharmacists Mutual is also very active in support of pharmacy. We take pride in supporting state pharmacy associations, College of Pharmacy scholarship programs, awards for outstanding scholastic achievement, the pharmaceutical industry through our Foundation, and providing help for alcohol and drug abuse programs, and research. Pharmacists Mutual Companies are committed to pharmacy--your profession!

Our commitment to quality and outstanding service for your professional, business, and personal insurance coverage shows that we know excellent value is essential. Our competitive rates and dividend payments to policyholders each year since 1909 show we share your concern about cost control.

Pharmacists Mutual Companies
808 Highway 18 West, P.O. Box 370
Algona, Iowa 50511
800-247-5930 •• Fax 515-295-9306

Why Pharmacists Mutual Companies?

Pharmacists Mutual was created by pharmacists and has specialized in insuring members of the pharmacy community for almost 100 years

Financial stability

• A (Excellent) rating by A.M. Best
• Dividends returned every year since 1909

Personal service

• Local representatives call on and service pharmacists in the state
• PMC fully licensed marketing associates are a phone call away
• Large or special accounts are assigned a home office representative

Risk management services

• On-staff risk management specialist to assist policyholders
• All policyholders receive Risk Management in Pharmacy newsletter

Courteous, fast, and fair claims service

• The hallmark of Pharmacists Mutual

Commitment to the profession of pharmacy

• Speakers are provided to colleges of pharmacy and available for state associations presentations
• Scholarships are awarded to pharmacy students each year

Broadest professional liability in the industry

• Coverage is based on NABP definition of pharmacy practice
• PMC staff pharmacist-attorneys constantly monitor legislation and litigation

PHARMACISTS MUTUAL COMPANIES

• Pharmacists Mutual Insurance Company
• Pharmacists Life Insurance Company
• ProAdvantage Services

INSURANCE PRODUCTS AND FINANCIAL SERVICES