MADISON, Wis. – February 7, 2022 – For the sixth year in a row since Rural Mutual Insurance established the first-of-its-kind Farm Dividend Program, the company’s Board of Directors declared a 5% dividend on all eligible farm policies for 2021 farm policyholders. Over the past six years, Rural Mutual has paid out over $15 million to Wisconsin farmers as part of this program.
Based on the company’s positive operating results, an estimated $2.8 million will be paid out in 2022 upon the farm policy renewal. Farmers will start to receive dividend checks in early February.
“We are grateful to be in a strong financial position that we are able to give back to our Wisconsin farmers. We recognize their dedication to agriculture and their loyalty to Rural Mutual. We wouldn’t be who we are today without them, and this is one way we can show our appreciation,” said Dan Merk, Executive Vice President and CEO of Rural Mutual Insurance.
In 2017, Rural Mutual Insurance became the first Wisconsin based insurance company to offer its farm policyholders a dividend. The Farm Dividend is one of the ways Rural Mutual continues to support their farm policyholders. It also reinforces their strong relationship with the Wisconsin Farm Bureau.
Rural Mutual is the number one writer of farm insurance in Wisconsin. The company was founded by farmers to better understand farmers’ unique insurance needs, no matter the size of the farm operation. Rural Mutual is a single-state insurer, so local agents’ knowledge is specific to Wisconsin. Its farm coverage options include home and personal items, farm buildings, vehicles, farm personal property and workers’ compensation for farm employees.
About Rural Mutual Insurance
Rural Mutual Insurance Company has been protecting Wisconsin for over 85 years. As an AM Best A+ Superior company, Rural Mutual provides a full line of insurance products exclusively to families, businesses and farms in Wisconsin. The company is headquartered in Madison, WI with over 150 local agents across the state. For more information about Rural Mutual Insurance Company, click here.