About Us

In 1898, Al Falkenhainer traveled to Titonka, Iowa, to open a drug store, which became the town's first business. When this store was lost to fire four years later, Falkenhainer came to understand the need for improved loss settlement practices. It was this experience that sparked his ambition to create what is now a thriving and prosperous insurance business. For the past century, Pharmacists Mutual has provided insurance to the health care industry by offering insurance coverages designed to safeguard its members—from pharmacists and dentists to personal care providers.

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 health care industry. In 1909, he obtained a charter for a mutual insurance company and founded Druggists Mutual Insurance Association with the support of his peers. Falkenhainer led that business from its inception through 1932.

In time, Druggists Mutual began its expansion beyond pharmacy into other areas of health care and related businesses, providing protection as either part of a pharmacy policy, or in addition to pharmacy policies. The company now offers coverage for pharmacists and independent pharmacy owners, care facilities, dentists, durable medical equipment providers, home health care operations, gift and card shops, grocery operations, and veterinarians.

In 1992, the company changed its name to Pharmacists Mutual Insurance Company and now operates in all 50 states, the District of Columbia, and Puerto Rico. The company has grown to become a nationally recognized leader in serving insurance and risk management needs of health care professions and related market segments, while still driven by Falkenhainer’s original vision to offer personalized and dedicated service to its members. With an A.M. Best A (Excellent) rating for financial strength, the company writes over 80,000 policies for more than 60,000 members.

Pharmacists Mutual strives to be a single source of insurance protection for its select markets. A broad portfolio of products and services reach members through three companies, Pharmacists Mutual Insurance Company, Chiron Insurance Company, and PMC Advantage Insurance Services, which together, can satisfy all of a member's professional, personal, and business insurance needs. The tradition of excellence and personal attention continues through the support provided by local and in-office professionals.

Based in Algona, Iowa, with an additional office in Austin, Texas, 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.