About North Fork Mutual
The following information from the
company's archives outlines how North Fork Mutual was
established and has progressed to be the fine company it
is today.
In 1874 the Minnesota Legislature
passed laws to permit Township Mutual Fire Insurance Companies
to write fire insurance policies. This was done because
fire insurance was extremely expensive and very difficult, if not impossible, to obtain in rural Minnesota. It
is reported that the Minnesota Commissioner of insurance at the time said he doubted any company organized
under the new law would succeed, but they must be
allowed to try, and no doubt fail.
Undaunted by the insurance commissioner's sentiments, North
Fork Mutual was founded by
Norwegian
settlers, on February 11, 1882, in North Fork Township, Stearns
County, Minnesota. The meeting
was held at the Big Grove Store in
North Fork Township. The company was initially named Svea Norden
Mutual Assurance Company. A
second organizational meeting was held on February 25, 1882, for
some reason, not
indicated in the meeting minutes, the company's name was changed to
Farmers Gjensidige Assurance
Seiskab (Farmers Mutual
Assurance Company). The constitution and bylaws were drafted,
printed and insurance
forms were authorized. All insurance forms and the constitution &
bylaws were written in Norwegian.
Among the earliest company rules
that were established were the prospective insured had to have a
minimum of $400.00 of insurable property to become a member.
The premium rates were a policyholder membership fee of $1.50 and 20
cents per 100 for each $100 dollars of insurance coverage.
No insurance policies were issued in 1882, apparently
there was a problem getting the insurance
forms
processed. The company's first annual meeting was held in North Fork
Township, on January 2, 1883,
at the home of
T.J. Anderson. The initial operating territory of the company
authorized was Crow Lake, Crow
River, Lake George and North Fork
Townships in Stearns County. The company constitution and bylaws
were
translated to the English language and published. Meeting
minutes, insurance policies and forms continued to be written in
Norwegian. By 1884, the company records indicate there were 50
policyholders and a treasury
balance of $66.51.
The company was incorporated in 1905. The corporation was made perpetual in 1934. The name of the company evolved to be Farmers Mutual Insurance Company of North Fork. In 1957 the company was renamed North Fork Mutual Fire Insurance Company. In 1985 the company built and occupied the company's office building on main street (401 Washburn Ave) in Belgrade, Minnesota.
North Fork Mutual has survived and grown over the years for several reasons. Some of those reasons are providing superior service and quality insurance coverage to our policyholders, providing claims service that is prompt and fair, sound underwriting, property safety survey services, responsible investment policies and adequate reinsurance programs. The main reason our company has succeeded is that North Fork Mutual strives to keep the best interest of our policyholders as our guiding business principle. North Fork's continuing business philosophy is reflected in the company's Mission Statement: North Fork Mutual Fire Insurance Company is committed to providing member policyholders with quality insurance protection and customer service at the most competitive premium cost possible.