About Us

Who We Are

At Security Mutual Group we are committed to bringing quality insurance products to market, providing the best customer experience and striving to provide the best working environment for our employees. We are a company with a long history, are flexible and adaptable to address the changing needs of our customers and conduct business with integrity and professionalism. 

Security Mutual Group History

Organized in 1887


Known today as Security Mutual Insurance Company, the Tompkins County Co-operative Fire Insurance Company, was organized on March 21, 1887 through the efforts of Otis E. Wood, the company's first corporate secretary; and was licensed to write fire insurance in the central New York counties of Cayuga, Cortland, Tompkins, and Seneca.

Our first policy was issued April 9, 1887, and provided $500 of coverage on the contents and $500 of coverage on a store owned by George H. Houtz in Etna, New York. The annual premium was $4.50.

Our First Year in Business

During our first year of business, 309 policies were issued with direct written premiums of $1,273.38; and the company paid its first loss in the amount of $219.69 on policy number 41, owned by L. Trembly, covering a hotel on Cayuga Lake. An assessment was declared on all policyholders to cover the loss.


In 1910, the New York State Insurance Department issued a certificate under the provision of Section IX of the Insurance Law allowing the company to continue to issue policies under the "advanced premium" plan in the counties of central and eastern New York.


On June 22, 1920, the company's charter was amended to expand its territory to include all counties of New York, except the five Boroughs of New York City, which were later added on August 12, 1942.


During February 1927, the New York State Insurance Department granted the company permission to write coverage against windstorms, tornadoes, earthquakes, theft of automobiles, as well as, loss by legal liability for property damage resulting from the maintenance and use of automobiles.


In 1955, the company was granted the power to write all coverages necessary to issue Homeowner and Special Multi-Peril Policies. The advanced premium co-operative company could now offer a full-line of policies on a "non-assessable" basis.


Tompkins County Co-operative Fire Insurance Company merged with Security Mutual Fire Insurance Company of Delhi, New York, and the name was changed to Security Mutual Fire Insurance Company of Ithaca, New York.


For nearly 5 decades our company name evolved, until 1982, when the name Security Mutual Insurance Company was officially adopted.


As the sole remaining member of the Joint Underwriting Association known as New York Mutual Underwriters, a branch office known as Security Mutual Albany was formed to serve critical non-standard markets.


Starting out as a small "county cooperative" with $1,273 in premiums, today, Security Mutual Group writes $53 million in premiums. With $143 million in assets; $85 million of policyholder surplus, we provide Property and Casualty Insurance for Home and Business. Security Mutual is represented by a network of more than 400 independent agents throughout New York State.

Community Involvement

Security Mutual Group supports a number of local community and charitable foundations including:

The Company has also donated to over 120 volunteer Fire Departments throughout New York State over the last 3 years.


“We needed to have insurance on our new home we are buying. no place wanted to insure us but this company did and we are very grateful.”
“Professional and courteous!”
“Security Mutual saved me money.”
“They are really there for you and affordable.”
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Company Leadership

Board of Directors

Senior Management

Ron Wilder

President & CEO

Lisa Kanellis

Secretary & Treasurer

Leadership Team

Brad George

Chief Information Security Officer

Chris Dickson

Casualty Claim Manager

Donna Ingalls

Property Claim Manager

Joe Flynn


Kevin Carney

Assistant Treasurer

Paul Ruane

Commercial Lines Underwriting Manager

Ronnie Wade

Personal Lines Underwriting Manager

Steve Crobar

Marketing Director

Tara Vickery

Billing Supervisor

Mindy Dudgeon

Information Systems Supervisor

Lauren Belfiore

Director of Info Systems

Shelley Cullen

Endorsement/Cancellation Supervisor

Alissa Patte

Human Resources Manager

Financial Strength of Security Mutual Group

Financial Statement December 31, 2020.
Assets 2020 2019
Cash and Short-term Investments 12,663,561 11,306,289
U.S. Government Bonds 32,066,003 27,940,317
Miscellaneous Bonds 57,977,000 58,782,239
Stocks 16,622,647 14,642,925
Real Estate 244,178 290,373
Premiums in Course of Collection 2,970,505 3,076,196
Reinsurance Recoverable 101,676 474,624
Interest Due and Accrued 630,847 640,314
All Other Assets 3,881,883 4,680,846
$ 127,158,300 $ 121,834,123
Reserve for Losses 19,228,804 19,464,223
Reserve for Loss Adjustment Expenses 4,542,830 4,464,173
Reserve for Unearned Premiums 22,940,952 22,832,713
Taxes 672,056 440,493
Other Liabilities 4,287,326 4,965,762
$ 51,671,968 $ 52,167,364
Surplus Account    
Special Contingent Surplus 950,000 950,000
Surplus Note 2,000,000 3,500,000
Unassigned Surplus 72,536,332 65,216,759
$ 75,486,332 $ 69,666,759
$ 127,158,300 $ 121,834,123
Income Statement
Description 2023 2022
Premiums Earned $43,592,865 $40,519,166
Losses and LAE Incurred $21,231,735 $23,538,622
Underwriting Expense Incurred $18,493,586 $16,715,276
Net Underwriting (Loss) Income $3,867,544 $265,268
Net Investment Gain $2,865,346 $2,437,784
Other Income $83,237 $221,959
Net Income before Taxes $6,816,127 $2,925,011
Federal Taxes Incurred $1,048,369 $521,099
Net Income $5,767,758 $2,403,912
Balance Sheet
Description 2023 2022
Bonds $103,680,563 $98,687,075
Stocks $17,792,331 $17,744,641
Cash & Short-term investments $9,967,446 $10,968,224
Real Estate $286,026 $259,377
Other assets $11,181,966 $10,629,551
Total Assets $142,908,332 $138,288,868
Reserves for Losses $20,541,776 $23,076,686
Reserves for Loss Adjustment Expense $4,906,205 $4,732,430
Reserve for Unearned Premiums $26,730,427 $24,772,856
Federal Tax $1,242,953 $680,434
Other Liabilities $4,521,838 $4,536,548
Total Liabilities $57,943,199 $57,798,954
Policyholders Surplus $84,965,133 $80,489,914
Total Liabilities and Policyholders Surplus $142,908,332 $138,288,868

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