Our History
Saucon Mutual Insurance Company (SMIC) was incorporated in Pennsylvania on May 3, 1832, as the Farmers Fire Insurance Company of Upper and Lower Saucon Townships. The company began business in 1832. The company adopted the current title on January 15, 1960.
Today, SMIC is a highly capitalized mutual insurance company with policyholders throughout the region. Our business operates on a premise of service to our policyholders and to serve our community. We are approved to write the following coverage:
- Homeowners
- Dwelling Property
SMIC maintains both term and perpetual policies for Homeowners and Dwelling Property programs.
AM Best Rating
AM Best has assigned a Financial Strength Rating of A (Excellent) to Saucon Mutual Insurance Company. This rating represents the AM Best opinion Saucon Mutual has an “excellent” ability to meet our ongoing insurance obligations.
Best’s Credit Ratings are independent opinions regard the creditworthiness of insurance entities, issuers, and securities. Best’s Credit ratings are based on a comprehensive quantitative and qualitative evaluation of a company’s balance sheet strength and operating performance.
The board is the focal point of our corporate governance system. Pursuant to state statutes (and corporate charters or articles) it is elected and is charged generally with direction of the affairs of the corporation. The board fulfills its role by delegating managerial authority to the managers, which it hires, monitors incentives (compensation), and replaces when necessary. The board is also charged with oversight of the company’s financial reporting and legal compliance.
| Board of Directors | |
|---|---|
| Chairman
Brian T. Regan bregan@rlbaccountants.com |
Vice Chairman
Susan C. Drabic drabic@moravian.com |
| Member At Large
Bernard (Bernie) J. Story Bernie@lehighvalleyfoundation.org |
|
| Treasurer
Martin C. Gilchrist mgilchrist@urdc.com |
Secretary
Phillip J. (Toby) Bell Tobybell@rcn.com |
| Donna B. Goss
dbgoss@att.net | Rick Santee
rsantee@ssk-esq.com |
| Mike Crofton mcrofton@philadelphiatrust.com | |
| Officers | |
| Sean P. Murray, President/CEO sean.murray@sauconmutual.com |
Our Staff
Sean Murray, President/CEO
Email: sean.murray@sauconmutual.com
Sean is a veteran industry executive specializing in the operation of insurance organizations. He has led Saucon Mutual and Saucon Insurance Agency since November, 2010. Sean has over 25 years of industry experience with an emphasis on protecting the property and casualty assets of his clients. He is a graduate of Marian College in Indianapolis, Indiana. He currently resides in Bethlehem, Pennsylvania.
Susan Bertsch, Office Manager
Email: susan.bertsch@sauconmutual.com
Susan Bertsch is Office Manager for Saucon Mutual. Her responsibilities encompass underwriting, claims and customer service. She has more than 15 years of insurance industry experience working as an adjuster, underwriter and insurance agent. Susan is currently acquiring her Certified Insurance Counselor designation.
Joe Ronco, CIC, Account Executive
Email: joe.ronco@sauconmutual.com
Joe is a life time resident of the Lehigh Valley. He was born, raised and currently resides in Allentown. He is a graduate of East Stroudsburg University with a BS in Business Management. Joe currently holds his LUTCF and his Certified Insurance Counselor (CIC) designation. He is also pursuing his Certified Risk Manager (CRM) designation. Since graduating from ESU, Joe has been involved in the financial services industry in banking, life insurance and, more recently, specializing in property and casualty insurance. When not working Joe enjoys spending time with his wife, reading, golfing and enjoying the outdoors.
Melinda Dalla Piazza, Customer Service
Email: melinda.dallapiazza@sauconmutual.com
Melinda Dalla Piazza is our receptionist. She is the friendly voice you hear on the phone when calling Saucon Mutual Insurance Company. In addition to answering the phones Melinda plays a vital role in processing and rating policies and helping with customer service. Melinda has spent over 20 years in the insurance industry in a variety of customer relationship positions.
Key Financial Highlights
| Financial Summary | ||
|---|---|---|
| Assets | 2011 | 2010 |
| Cash & Invested Assets | $16,724,788 | $17,125,840 |
| Other Assets | $268,320 | $53,446 |
| Total Assets | $16,993,208 | $17,172,409 |
| Liabilities | ||
| Losses and LAE | $90,939 | $19,000 |
| Other Liabilities | $653,127 | $742,348 |
| Perpetual Deposits | $2,355,494 | $2,333,767 |
| Total Liabilities | $3,098,560 | $3,095,115 |
| Unassigned Surplus | $13,894,648 | $14,077,293 |
| Operating Results | ||
|---|---|---|
| Earned Premium | ($89,795) | ($90,904) |
| Incurred Losses | $145,997 | $41,211 |
| Other UW Expenses | $553,929 | $524,529 |
| Underwriting Gain/(Loss) | $789,721 | ($677,644) |
| Investment Income | $327,299 | $338,164 |
| Realized Gains | $738,679 | $730,124 |
| Investment Gain/(Loss) | $1,065,978 | $1,068,288 |
| Net Income before Taxes | $275,227 | $420,133 |
| Federal Income Taxes | $7,426 | $4,000 |
| Net Income | $267,801 | $416,133 |