Company Profile
Pharmacists Mutual Companies
Company Overview
Pharmacists Mutual Companies (PMC) prides itself on being your single source for insurance protection and providing superior personal service. The wide array and expanding portfolio of products and services is offered through the three PMC companies – Pharmacists Mutual Insurance Company, The Pharmacists Life Insurance Company and PMC Advantage Insurance Services, Inc. Together, these companies satisfy the professional, personal, and business insurance needs of health professionals. Full-time sales representatives, and our professionally-trained home office staff provide exceptional personal contact and service.
Company History
In 1898, a young Albert Falkenhainer “went west” to Titonka, Iowa, to open the town’s first business – a drug store. Four years later, a fire destroyed Al Falkenhainer’s drug store. Frustrated by loss settlement practices, Falkenhainer set out to build a better insurance company. What appeared to be a bleak end, is today a thriving, prosperous insurance company.
As a member and officer of the Iowa Pharmacists Association, Falkenhainer believed in druggists working together for the good of the profession. In 1909, Falkenhainer obtained a charter for a mutual insurance company. He founded Druggists Mutual Insurance Company with the support of his peers and led the organization from 1909 to 1920.
Following the direction set by Falkenhainer, Pharmacists Mutual (formerly Druggists Mutual) continues its dedicated service to its members and the professions in which they work. As an A.M. Best Excellent rated property and casualty insurance provider, the company writes over 90,000 policies for 50,000 customers in 49 states. The majority of policyholders are pharmacists and independent pharmacy owners, although the market share of dentists, home health care operations, durable medical equipment providers and gift and card shops is on the rise.