To mark its 125th Anniversary Peel Maryborough Mutual Insurance (PMMI) erected a new digital sign.
The official unveiling of the sign was held on July 20, but officials say it has already proven to be beneficial, as a county-wide fire ban and Mapleton watering restrictions were declared the week prior.
Board chair Jan Dadson said at the unveiling that PMMI wanted to celebrate its 125th anniversary with a “low key approach which would benefit the community and a new sign seemed like a great idea.”
The insurance company has been a key supporter of the Mapleton community. It has been a sponsor of the Drayton Festival Theatre, the Palmerston and District Hospital Foundation and the Mapleton Fire Department.
Expanding the company’s ongoing support to local charities, Dadson announced all non-profit Mapleton organizations can advertise community events and notices on the new sign for free.
To do so, contact Kevin Prong at 519-638-3304 ext. 232, fax 519-638-3521, email KProng@pmmutual.com or in writing to Peel Maryborough Mutual Insurance Company, Box 190, 103 Wellington Street South, Drayton ON, N0G 1P0.
125 years and counting
On April 28, 1887 the very first board meeting of The Peel Maryborough Mural Farmers Insurance Company was called to order with a meeting at the Temperance Hall in Drayton with 27 people in attendance.
It has been 125 years since that first meeting, which saw John Paterson as acting president; Caleb Lowes as vice president and W.H. Stubbs as secretary-treasurer.
A lot has changed over the years in Drayton, but Peel Maryborough Mutual Insurance Company continues to have a strong presence throughout Mapleton Township.
Gathering from the company’s first minutes, insurance rates have undoubtedly changed – in fact, the average rate for property coverage was a mere $3 per $100 of property value (for a three-year term).
By 1887 the company appointed its first agents: George Green as the Maryborough agent and Jas (James) Slemmon at the agent for Peel.
Early start-up costs included the cost of printing, which was provided by A.L. Lown, editor of the local paper The Vidette.
The first reported claim also occurred in 1887 due to loss to a dwelling on the 15th Concession of Peel (the minutes don’t indicate the amount of the claim).
In 1888 the company board voted to become members of the Purely Mutual Underwriters Association of Ontario. As it still does today, the company saw steady growth and addressed safety concerns within the township – such as ensuring steam threshers were operated well away from barn structures and that operators procured a certificate of qualification to operate.
In 1888 Peel Maryborough Mutual Insurance Company added two new agents, as the company expanded its coverage territory to Wallace and Arthur. By June 1892, the company’s net gain was $33,955 in the first six months (a hefty sum for that time), with 72 policies issued and 51 cancelled policies.
In 1903 the company purchased property and built an office building and, though at the time the board decided against installing electric lights, a mere 10 years later they added electricity and telephones. By 1920 Auto Coverage was introduced at the rate of $1.50 per hundred for a twol-year term yet the company suspended that decision twoyears later-horses were still widely in use and to remained profitable-the valuation of a horse was set at $200. Also of note: in 1938 the company offered its first reward of $200 to any person giving information leading to the arrest and conviction of the persons responsible for three Maryborough fires that were considered to be arson. It is humorous to note that the company’s minutes included a notation that in 1939 it was voted to purchase lead pencils with an eraser and to purchase one line of advertising. Previous boards had rejected the notion of advertising via print and/or radio. The company has always maintained a community minded attitude, so it’s not surprising that a $500 donation was made to British War victims in 1942. Perhaps due to the war time era there is a gap in the minutes, which don’t resume till February 1954, but of course much had changed. In 1955 it was decided that coverage for any one television set damaged by lightning or fire would be limited to no more than $50 unless the set was completely destroyed. 1955 also saw the appointment of a building inspector whose job was to eliminate fire hazards such as faulty wiring, overloaded fuses, plugged chimneys and stove pipes etc.. By 1968 the company net gains had dropped dramatically since the turn of the century to a mere $5,710.65 yet it needs to be pointed out that the company’s assets totaled $232,723.53. The 1970’s proved to be challenging for mutual companies, yet the government was soon to allow farm mutual companies to write auto insurance. At the recommendation of their agents, the 1976 Board proceeded with caution to “perhaps only offer auto insurance to existing farm policy holders,” but records indicate that by the 1980 full auto coverage openly offered. A new facility was constructed and opened by June 26 1979 on Wood St. Drayton. In an interesting side note, in 1984 the Board voted to allow smoking in the Board room yet at the company’s inception some 100yrs prior it was established that all facilities would be smoke free; however by 1989 the non smoking policy was reinstated. Ever innovative, in 1981 Company President, George Douglas pressed the “accept” bar, thus printing the first computer printed policy for The Peel and Maryborough Mutual Fire Insurance Company (one of a handful of insurance companies using computer systems at that time). The company also kept current by appointing their first woman director, Jean Campbell in 1985. The company also faced a financial review/audit by Clarkson Gordon Accounting that included 10 recommendations to increase the company’s profitability. Apparently those steps proved to be beneficial since in 1987 the company broke its 1 million dollar mark, in fact in the early 90’s a report from the Department of Insurance audit listed concerns that Peel Maryborough Insurance might be growing too fast to ensure long term sustainability. The 1990s started off with expansion for the Company and after investigations the Board voted to purchased land on Wellington St. S Drayton for the purpose of a building a brand new office space. This is their current location to date, which boasts state of the art facilities. The grand opening was held on October 17, 1991, however Peel Maryborough would not be immune to the 1990’s recession which resulted in staff layoffs by the mid 90’s. Surviving the recession Peel Maryborough marched into the new millennium by launching it first website www.pmmutual2on.ca and proved that the Mutual concept was alive and well, registering a 4% profit increase at the close of 1999 and leapt to a 11.4% increase by 2002. 2002 also marked a year where the Mutual company incurred property damage to their office, when it was struck by lightning. Total damages was estimated at$85,000.00 but came in at under $60,000.00. In 2004 the company hit a new milestone reaching $10,000,000.00 in member surplus, maintaining a very stable solvency ratio of close to 1:1; a ratio that they maintain today. From the decision whether to purchase lead pencil with eraser to the decision to expand their internet services to offer web portals and upload capabilities, Peel MaryboroughMutual Insurance has seen many changes over the last 125 years but their focus remains much the same: A commitment to community, safety and economic growth for the mutual benefit of everyone.
