2010 – A NEW YEAR BEGINS

Richard Keith

January 11, 2010

Welcome to our updated web site. A message from the President is one of the new features. I’ll be celebrating 32 years with IMT on February 28 and I never thought I would be communicating via a web site.

Last year we recognized 125 years of doing business. IMT insures autos, homes, businesses, etc. in five states – Iowa, Nebraska, South Dakota, Illinois and Wisconsin. We use over 750 independent insurance agencies to write our business.

Last year kept us busy paying claims from the Midwest storms. We processed 20,604 claims in 2009. We paid over $67 million in losses. There is a reason why you buy insurance, you can ask one of our insureds who had one of those claims.

At year-end we had 202,666 policies in force. Personal auto is our largest line of business with over 59,000 policies. Overall IMT grew over 8% in 2009.

2010 is predicted to be another stressful year for the property/casualty industry. Limited growth and increased losses will produce another year of no profits. The good news is our industry is well capitalized and we are prepared to pay losses – that’s why we are in this business and we don’t need bailout money. After all the hurricanes, earthquakes and wildfires over the years we have always taken care of our insureds without help from the government.

That’s all for now, I’ll get off my soapbox.