Madison Mutual Insurance Company (NY)

‘Madison Mutual Insurance Company is an assessment cooperative property/casualty insurance company located just to the west of the Village of Chittenango, Town of Sullivan, Madison County, New York state. It first began operations doing business as the Madison County Farmers Mutual Fire Insurance Company on February 15, 1882. Then on January 30, 1893, it was formally incorporated by local farmers and business persons as the Madison-Onondaga Mutual Fire Insurance Company. Two families very prominent in the organization of the company were the Gates and the Bulls. Members of these families also served as board members. The Gates family has, for over 100 years, had a family member on the Board of Directors. Descendants still live in the area and are still insured by Madison Mutual Insurance Company. The company was established mainly to insure local farmers and business owners who were interested in protecting their businesses, barns, homes, livestock and equipment from fire and lightning. Coverage for the peril of windstorm was made available later, and in 1976 casualty insurance was written for the first time. The founders wrote insurance for members living in Madison and Onondaga Counties.’