Wisconsin-based insurance provider Rural Mutual Insurance has declared a 5% dividend on all eligible farm policies for 2021 farm policyholders, the company has announced. Since establishing its Farm Dividend Program six years ago, Rural Mutual has paid out more than $15 million to Wisconsin farmers.
Based on the company’s positive operating results, an estimated $2.8 million will be paid out this year upon farm policy renewal. Farmers will start to receive dividend checks this month, Rural Mutual said.
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“We are grateful to be in a strong financial position that we are able to give back to our Wisconsin farmers,” said Dan Merk, executive vice president and CEO of Rural Mutual. “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.”
Rural Mutual is the number-one underwriter of farm insurance in Wisconsin. The company was founded by farmers and is a single-state insurer, so local agents’ knowledge is specific to Wisconsin.
