Business Moves

Motorists Insurance Group

American Hardware Mutual Insurance Co. has been renamed Motorists Commercial Mutual Insurance Co. (MCM). The move is part of the restructuring of American Hardware, which began March 1, 2011.

MCM is a commercial lines insurer that offers the broadest coverage in the niche commercial markets it serves. The company is backed by Columbus, Ohio-based The Motorists Insurance Group. MCM’s distribution system has been changed to one based solely on independent agents in a market defined by the 17 states stretching from the Midwest to the Northeast and South Carolina in which Motorists Insurance companies operate.

Arthur J. Gallagher, Mortgage Insurance Agency

Itasca, Ill.-based Arthur J. Gallagher & Co., acquired Mortgage Insurance Agency Ltd. in Crystal Lake, Ill.

Founded in 1993, Mortgage Insurance Agency is a retail insurance broker providing commercial property/casualty and risk management services to clients throughout the United States. The firm specializes in state licensed surety bonds, errors and omissions, and fidelity bond coverages for mortgage broker and mortgage banker clients.

David J. Jackson and his associates will continue to operate in the Crystal Lake location under the direction of Thomas J. Gallagher, Midwest Regional manager of Gallagher’s retail property/casualty brokerage operation.

Hastings Mutual, Olivet College

Michigan-based Hastings Mutual Insurance Co. has committed $100,000 over four years towards an endowed scholarship fund for Olivet College insurance students. To date, $75,000 has been contributed to the fund with the remaining $25,000 installment to be completed in February 2012. In the past two years, Olivet College has awarded four scholarships to students in varying amounts from the fund.

The relationship between Hastings Mutual Insurance Company and Olivet College has existed for more than 30 years, starting when the college began its Insurance and Risk Management program in the early 1980s. Hastings Mutual has taken a special interest in Olivet College and is committed to supporting its mission of insurance education.

Hastings Mutual partners with the college by covering the cost of students’ fees associated with national insurance tests from the American Institute for Chartered Property Casualty Underwriters, informally known as The Institutes. More than 300 students have benefited from this commitment.

Hastings Mutual recently sponsored the complete renovation of one Olivet classroom that seats about 120 students. The company also participates in practice interviews, career fairs and internship programs with Olivet College students.