Over a Century of Success
Federated was formed in 1904 by a group of business people who were seeking better value for their insurance premium dollar.
In those early years, equipment dealer Charles I. Buxton was virtually a one-man company. With one assistant, he issued policies, handled correspondence, kept the books, and paid claims. When he wasn’t in the office, he took to the road to sell.
Even then, safety standards were adopted and only businesses that adhered to those practices were accepted as clients. This emphasis on safety resulted in fewer losses, which led to substantial savings, allowing the Company to expand its services. The concept of insuring select businesses remains a part of Federated’s business strategy today.
For Federated, mid-century meant the beginning for a spirited new Chairman, John A. Buxton. Under his leadership, Federated became one of the first insurers to provide coverage for property, liability, and health insurance. During his tenure, many new employee training programs were implemented. These measures laid the foundation for a culture that today assures quality insurance products and professional service.
Under its next Chairman, Charles I. Buxton II, Federated entered a period of accelerated growth and substantial financial progress. A new life insurance affiliate was formed, which put the Company in a position to handle virtually all of its clients’ insurance needs. The Company’s market plan was fully developed and led to an even greater emphasis on providing the highest quality, best-value insurance service available to selected businesses.
During the tenure of Chairman Al Annexstad, the Company enhanced its focus on state trade associations and national industry organizations who, in turn, recommend Federated’s products and services to their members. Most importantly, the Company solidified its financial standing in the industry.
Current Chairman, President and CEO Jeffrey E. Fetters began his leadership term in December 2012, and continues Federated’s commitments to clients and trade association partners.
“Our mission at Federated Insurance Companies is to provide superior risk management services for those business owners and affinity groups who need and value our:
- specialized coverages
- risk management resources
- informative counsel
- prompt and fair claims service
Through interdependence with all stakeholders, we will be cost-effective and financially sound. Utilizing our unique distribution system, Business Plan, mutual company structure, and commitment to affinity group relationships, we will enhance the well-being of our policyowners, employees, and the society we serve.”