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Strong ethics and sound governance are at Amica’s core. For over 100 years, we’ve built a resilient organization through conservative business practices and careful management. As a mutual company, we’re accountable to our policyholders instead of outside investors. Our primary focus is on keeping the promise to customers that we’ll be there for them when they need us most. We’ve developed a reputation for excellent customer service one human interaction at a time, strengthened through collaboration with preeminent technology partners.

Board Oversight

We’re led by an active Board of Directors who bring diverse backgrounds, qualifications and skills that support our operations. Click here to meet them.

These stewards of the company continually assess our business and performance, and provide guidance in many areas, including:

  • Corporate strategy 
  • Diversity, equity and inclusion
  • Corporate social responsibility
  • Environmental impact
  • Ethics and compliance
  • Legislative, regulatory and legal initiatives
  • Risk management
  • Technology
  • Cybersecurity

Their insights and experience assist us in making decisions in the best interests of our customers, employees and communities.

Ethical Business Practices

To deliver on our promise to policyholders, we hold ourselves and each other to the highest ethical standards. We always aim to do what’s right, operate with the utmost integrity and take the high road.

  • Click here to learn more about our commitment to ethics.
  • Amica employees put ethics into action. Interactions with customers, business partners and the general public reflect who we are. Required annual training and certification help preserve our strong business culture.

    Our Ethics Committee is comprised of management-level employees throughout the organization. The committee supports and empowers employees by:
    • Promoting ethical behavior through quarterly articles in our employee newsletter
    • Leading by example
    • Serving as a resource for ethics questions
    • Providing educational materials
    • Reviewing and updating the Amica Code of Ethics to remain consistent with best practices

Responsible Advocacy

Protecting the important parts of our customers’ lives involves more than providing coverage and assistance when the unexpected happens. It also means advocating for issues that impact our policyholders and the insurance industry. We do this through active engagement with organizations that align with our values on public safety and protection, including:

  • Insurance Institute for Business & Home Safety (IBHS): An independent, nonprofit scientific research and communications organization dedicated to mitigating the effects of natural disasters for home and business owners, particularly by recommending Fortified construction methods.
  • Insurance Institute for Highway Safety (IIHS): An independent, nonprofit scientific and educational organization dedicated to reducing deaths, injuries and property damage from motor vehicle crashes.
  • Mothers Against Drunk Driving (MADD): A nonprofit whose mission is to end drunk driving, help fight drugged driving, support the victims of these violent crimes, and prevent underage drinking.
  • Advocates for Highway and Auto Safety: An alliance of consumer, medical, public health, law enforcement, safety groups, and insurance companies and agents working together to improve road safety in the U.S.
  • National Insurance Crime Bureau (NICB): A national not-for-profit organization dedicated to fighting insurance fraud and crime.
  • Coalition Against Insurance Fraud: A national alliance of consumers, insurers, government agencies, legislators, prosecutors and other partners to fight all forms of insurance scams.

Risk Management

Risk Management is the process of identifying, assessing and managing threats to the organization. Amica follows the “three lines of defense” risk governance model, which includes robust internal controls, risk and compliance oversight, and an independent audit function. Led by our Chief Financial Officer, our Risk Management and Operational Risk Management teams work collaboratively with business partners to manage risk. They do this by promoting risk awareness, building a strong controls assurance program and utilizing technology to enable operational efficiencies. Ultimately, it’s everyone's responsibility at Amica to identify and mitigate risks to avoid disruptions to the business.

Information Security: Protecting Amica data, both company and policyholder nonpublic information, is a top priority. We have a robust Enterprise Cybersecurity Program and a team comprised of expertly trained professionals who are charged with preserving the confidentiality, integrity and accessibility of Amica data and systems. This team also provides administrative and technical safeguards, risk processes and comprehensive security awareness training to secure Amica data against real and anticipated threats or hazards.

Compliance and Ethics: We have vigorous enterprisewide compliance and ethics programs that reflect our values of integrity and ethical conduct. Hallmarks of our programs include clear policies, healthy communication between employees and those who oversee the programs, and a willingness to take corrective action when necessary.

Our programs rely on the engagement of employees at all levels of the organization. We provide them with compliance and ethics training regularly, and we create an atmosphere where they’re comfortable seeking guidance about potential issues. Employees can contact a member of management to discuss a matter of concern or report a concern anonymously. All reports are reviewed and investigated.

In the end, strong compliance and ethics allow us to stay focused on our primary goal of servicing our policyholders.

Third-Party Risk Management: Like many companies, Amica relies on goods and services provided by third parties. We strive to ensure that companies we do business with are reputable and trustworthy. To that end, we assess potential business partners by asking about things such as litigation trends, risk management processes and data management. In addition, vendors undergo a cybersecurity assessment commensurate with the level of risk they present. Our goal is to partner with financially stable and ethical companies.

Business Resilience

The insurance industry has changed significantly in more than the 100 years Amica has been in business. Our focus on maintaining long-term financial stability has enabled us to adapt to evolving financial, legal and regulatory environments over the years. Through a conservative business philosophy and a well-managed investment portfolio, we’ve built a surplus of over $3 billion. This surplus ensures our ability to provide peace of mind when our customers need us most.

Financial stability: A company’s financial strength rating is an indicator of its ability to pay claims and remain solvent even when faced with widespread or catastrophic losses. AM Best is the longest-standing rating agency in the world − and the only one that specializes in the insurance industry. It analyzes and reviews financial and credit information to help consumers determine whether a particular insurer can make them whole again after a loss. AM Best consistently rates Amica Mutual and Amica Life A+ (Superior).*

Reinsurance: Amica purchases reinsurance as part of our overall loss mitigation and financial operating plan, to protect against significant catastrophic property loss events. The key focus of our reinsurance program is reducing exposure to our policyholder surplus. Through prudent underwriting and risk management, and with no claims filed against our reinsurance program in 30 years, we’re able to carefully vet and choose our reinsurance partners. Our thoughtful approach to reinsurance provides an extra layer of protection and additional peace of mind for our policyholders.

Business Recovery and Continuity: We’ve adopted business recovery plans for all of our critical functions. Overall, our business continuity plan enables us to maintain operations in the face of a crisis, disaster or other emergency. This allows us to protect our financial standing, public image and the safety of our employees. The strategies we’ve developed will minimize the effects of such events, helping us to quickly resume key operations.

* A+ (Superior) is the second highest of 13 company ratings. Ratings range from A++ (Superior) to D (Poor). AM Best's ratings measure an insurer’s financial strength.