About Us

Pharmacists Mutual Insurance Group is a nationally recognized leader in providing specialized insurance and risk management solutions for independent community pharmacies and related healthcare risks. Pharmacists Mutual offers dedicated support and claims excellence in all 50 states and the District of Columbia. Our broad portfolio of products and services provides for our members’ professional and business insurance needs. Pharmacists Mutual has a Best's Credit Rating of A- Excellent with Stable Outlook.* We have earned a Financial Strength Rating (FSR) of A- Excellent or higher since 1922.

*Effective January 25, 2024. AM Best Company credit ratings are independent and objective opinion, not a statement of fact. For the latest Best's Credit Rating, access www.ambest.com.

Our Mission

To help our customers attain peace of mind through specialized insurance products, risk management solutions, and superior personal service.

Our Vision

To be the leading provider of insurance and risk management solutions within our select markets by building enduring relationships.

Our Values

Our History

In 1898, young Al Falkenhainer traveled to Titonka, Iowa, to open a drug store, which became the town's first business. When Falkenhainer lost this store to fire four years later, he understood the need for improved loss settlement practices. This experience sparked his ambition to create what is now a thriving and prosperous insurance business.

As a member and officer of the Iowa Pharmaceutical Association, Falkenhainer believed in the value achievable when pharmacists worked together for the good of their profession. He wanted to provide prompt and fair claims support to pharmacy professionals. Beyond this, he sought to establish a company that could evolve and grow with the changing needs of the profession. In 1909, a charter was obtained, and the Druggists Mutual Insurance Association was founded.

In 1992, the company changed its name to Pharmacists Mutual Insurance Company and now operates in all 50 states and the District of Columbia. The company has become a nationally recognized leader in serving healthcare professionals' insurance and risk management needs. Pharmacists Mutual is still driven by Falkenhainer's original vision to offer personalized and dedicated service to its members. The company now writes over 80,000 policies for over 60,000 members.

In time, Pharmacists Mutual expanded beyond pharmacy into other areas of healthcare-related businesses, providing protection as either part of a pharmacy policy or in addition to pharmacy policies. The company now offers coverage for pharmacists, independent pharmacy owners, pharmacy technicians, care facilities, dentists, dental hygienists, durable medical equipment providers, home health care operations, life sciences companies, veterinarians, gift and card shops, and grocery operations.

Pharmacists Mutual strives to provide specialized insurance protection for select markets. A broad portfolio of products and services reach members through Pharmacists Mutual Insurance Group's three companies, Pharmacists Mutual Insurance Company, Chiron Insurance Company, and PMC Advantage Insurance Services, Inc. The tradition of excellence and personal attention continues through the support provided by local and in-office professionals.

Based in Algona, Iowa, Pharmacists Mutual unites insurance professionals with diverse experience and backgrounds, including accounting, actuarial, education, law, medicine, nursing, and pharmacy. Also employed are licensed insurance representatives and professionals holding distinctive insurance designations. The Board of Directors is composed primarily of practicing pharmacists who help provide the strategic direction to carry the company forward into "Tomorrow. Imagine That."

Our Market Segments

Over the past century, Pharmacists Mutual has expanded beyond pharmacy into other areas of healthcare and related businesses, writing policies as either part of pharmacy or in addition to pharmacy policies.

Market Segment Timeline