For more than a century, Oxford Mutual has been protecting area residents by providing for their insurance needs. We're right here in your community to serve you as your friends and neighbours.
Whether you're a farmer, homeowner, tenant or small business owner, today, more than ever, people like you appreciate the value of the mutual insurance alternative.
Here's why:
- You share in our success. We are an all-Canadian company, owned by our policyholders. So instead of paying profits to outside shareholders, they are retained for the benefit of policyholders or returned as refunds.
- Staffed by people you know. Oxford Mutual representatives and staff aren't faceless names working in a far-off office tower. They are local residents, caring people who know your name, not just your policy number.
- Directed by fellow policyholders. In fact, even the company's directors are fellow policyholders elected from the local communities. Chances are some are your own friends and neighbours, so you can be sure they'll act in everyone's best interests.
- Prompt, personal and professional service. Our service is more than professional, it's personal, the kind of prompt, professional and friendly attention you'd expect from someone you know. What an advantage when choosing your insurance coverage, managing your insurance risks or using our claims services!
- Cash Flow
Here is a simplistic illustration that demonstrates the principles of a purely mutual insurance company.
Purely mutual companies operate on a non-profit philosophy. There are no payments of dividends to stockholders. Expenses consist of claims payments plus administration expenses to operate the company. There are only two sources of income for a purely mutual insurance company - policyholder premiums and investment income from the investment of surplus funds. The simple goal is to provide for the needs of the owning policyholders while ensuring the mutual remains financially stable.
Can you see how claims costs affect the amount of premium needed?
Can you see how changing the rate of flow of any of these four forces affects the water level?
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