Germania Farm Mutual Insurance Association , organized in 1896, is a farm mutual insurance company operating under Chapter 911 of the Texas Insurance Code. As a farm mutual, GFMIA is owned by its policyholders, who are each members of the Association. Germania Farm Mutual Insurance Association is the parent company and owns the subsidiary Germania companies. The Cabinet and the directors from all the districts shall constitute the Board of Directors. The Cabinet includes the President, 1 st Vice President, 2 nd Vice President and Secretary-Treasurer. The Association is divided into no more than nineteen districts, and each district has one representative known as a director. Officers and directors are elected for a three-year term.
Germania Insurance Company (GIC), Germania Fire & Casualty Company (GF&C) and Germania Select Insurance Company (GSIC) are wholly-owned subsidiaries created to provide members with auto, casualty, boat, and property coverage. GIC, organized in 1978, is a “standard” company that serves as the parent company of GF&C, organized in 1985, and GSIC organized in 2002. All are stock companies subject to strict state regulation of rates, policy forms, accounting methods, and public accountability. A ten-member Board of Directors composed of the four Cabinet officers and six directors elected for a one-year term from the GFM Board of Directors govern these companies.
Germania Life Insurance Company , another wholly-owned subsidiary, was organized in 1983 to provide life insurance products to members and policyholders. Germania Life is also a stock company subject to regulations by the Texas Department of Insurance. The governing body for the Life Company is an eight-member Board of Directors composed of the four Cabinet officers and four directors elected for a one-year term from the GFM Board of Directors.
Texas Heritage Insurance Company was formed in 2006 as the newest subsidiary company of Germania Farm Mutual Insurance Association. Texas Heritage Insurance Company primarily insures urban and rural property located in Brazoria, Chambers, Fort Bend, Galveston, Harris, Matagorda and Montgomery counties. In addition to providing coverage on the dwelling and its contents. Texas Heritage also covers outbuildings, farm equipment and additional items that are on small farms and ranches under the convenience of one policy.
Germania Credit Union , organized in 1986, is a non-profit financial corporation owned by its members. Located at Germania's home office, the credit union offers Germania policyholders, local chapter officials and agents, employees, and their families a place for systematic savings as well as a convenient and economical source for borrowing money. The Credit Union staff includes a president and three staff members. There are nine members on the Board who are elected from the membership for a three-year term.
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