Indiana Insurance: protecting Hoosiers for more than 150 years.

• Author: Beck, Bill
• Position: Centennial Business

Indiana Insurance entered the 21st century with a 151-year tradition of protecting Hoosier families and businesses as well as offering quality customer service to its policyholders. Since its inception, the company has remained committed to the Independent Agency System. The company's history of solid growth and reputation for high-quality products and services have allowed it to become one of the region's leading carriers.

Rick Bell, president and CEO of Indiana Insurance, says the company strongly believes that "independent agents bring significant value to individuals and businesses that are looking for the right insurance coverage to protect them and their property in the event of a loss.

"Today's independent agents are highly skilled, dedicated professionals who can analyze the risks facing individuals and businesses and recommend the right coverage essential to minimizing the financial risk to their clients in the event of a loss."

Indiana Insurance began business as Indiana Fire & Marine Insurance in 1851 after procurement of a charter from the Indiana Legislature by a group of progressive Hoosiers. Because shipping in the 1850s was often done by way of canals and rivers, marine insurance was available to cover cargo during transportation. With the coming of the railroads in the years following the Civil War, however, Indiana Fire & Marine's principal business became fire insurance.

Indiana Fire & Marine Insurance assumed the name Indiana Insurance Co. on March 5, 1875, by an act of the Indiana Legislature. Indiana Insurance Co. established a reputation for good policy service and prompt, fair claim settlement.

The Great Depression and World War II did not present obstacles to Indiana Insurance's growth. The company opened its first field claim office in 1929 in Hammond. Indiana Insurance surpassed the $1 million mark for premium writings in 1940, a figure that quintupled to $5 million by 1950.

The Consolidated Insurance Co., a subsidiary of Indiana Insurance, began operations in 1956. Five years later, in 1961, Indiana Insurance offered shares to the public for the first time. Indiana Insurance and its subsidiaries created a holding company in 1972--Indiana Group Inc.

In March 1979, Indiana Group became a wholly owned subsidiary of the National Distillers Chemical Co. During this time, the company began a program of decentralization in order to offer high-quality service to customers and agents.

Indiana Insurance in May 1985 became...