Pharmacists Mutual Insurance Group


Our Mission:  To help our customers attain peace of mind through specialized insurance products, risk management solutions, and superior personal service.

Our Vision:  To be the leading provider of insurance and risk management solutions within our select markets by building enduring relationships.

Our Values:

  • Relationships - We are dedicated to being a successful, mutual insurance company, accountable to and supported by our policy owners. We offer a diverse and rewarding work environment founded on respect, trust, and teamwork. We establish mutually beneficial relationships with associations that support the professional well-being of our customers. We choose business partners who share our core values.
  • Integrity - We are honest in everything we do. We are committed to high standards of ethical conduct.
  • Citizenship - We support our communities and professional associations. We advocate for the interests we share with our customers.
  • Excellence -Our success depends on the talents, skills, and knowledge of our employees. Our products, expertise, and service deliver value to our customers. We are committed to continuous improvement. We manage the company's resources to ensure its profitability and independence in order to honor the promises we have made.



In 1898, Al Falkenhainer traveled to Titonka, Iowa, to open a drug store, which became the town's first business. When this store was lost to fire four years later, Falkenhainer came to understand the need for improved loss settlement practices. It was this experience that sparked his ambition to create what is now a thriving and prosperous insurance business. For the past century, Pharmacists Mutual has provided insurance to the health care industry by offering insurance coverages designed to safeguard its members—from pharmacists and dentists to personal care providers.

As a member and officer of the Iowa Pharmaceutical Association, Falkenhainer believed in the value achievable when pharmacists worked together for the good of their profession. He wanted to provide prompt and fair claims support to pharmacy professionals. Beyond this, he sought to establish a company that could evolve and grow with the changing needs of the health care industry. In 1909, he obtained a charter for a mutual insurance company and founded Druggists Mutual Insurance Association with the support of his peers. Falkenhainer led that business from its inception through 1932.

In time, Druggists Mutual began its expansion beyond pharmacy into other areas of health care and related businesses, providing protection as either part of a pharmacy policy, or in addition to pharmacy policies. The company now offers coverage for pharmacists and independent pharmacy owners, care facilities, dentists, durable medical equipment providers, home health care operations, gift and card shops, grocery operations, and veterinarians.

In 1992, the company changed its name to Pharmacists Mutual Insurance Company and now operates in all 50 states, the District of Columbia, and Puerto Rico. The company has grown to become a nationally recognized leader in serving insurance and risk management needs of health care professions and related market segments, while still driven by Falkenhainer’s original vision to offer personalized and dedicated service to its members. With an A.M. Best A (Excellent) rating for financial strength and named as a Property-Casualty Ward’s 50® Company, the company writes over 80,000 policies for more than 60,000 members.

Pharmacists Mutual strives to be a single source of insurance protection for its select markets. A broad portfolio of products and services reach members through three companies, Pharmacists Mutual Insurance Company, Chiron Insurance Company, and PMC Advantage Insurance Services, which together, can satisfy all of a member's professional, personal, and business insurance needs. The tradition of excellence and personal attention continues through the support provided by local and in-office professionals.

Based in Algona, Iowa, with an additional office in Austin, Texas, Pharmacists Mutual unites insurance professionals with diverse experience and backgrounds, including accounting, actuarial, education, law, medicine, nursing, and pharmacy. Also employed are licensed insurance representatives and professionals holding distinctive insurance designations. The Board of Directors is composed primarily of practicing pharmacists who help provide the strategic direction to carry the company forward into Tomorrow. Imagine That.

Pharmacists Mutual Insurance Group
808 Hwy 18W | PO Box 370
Algona, Iowa 50511
P. 800.247.5930
F. 515.295.9306

Why Pharmacists Mutual?

For more than a century, Pharmacists Mutual has been providing specialized insurance solutions backed by solid industry insight. 

  • We stand with integrity beside our members during some of the most challenging circumstances. 
  • Our full range of professional, business, and personal policies deliver an unmatched level of quality, choice, and protection. 
  • Pharmacists Mutual is your single resource for reliable, comprehensive insurance protection.

Top Ten Reasons to buy from Pharmacists Mutual 

    1. Proactive understanding of claims
    2. On-staff pharmacists and legal counsel
    3. Experience
    4. Knowledge backed by research
    5. 24/7/365 policyholder and claim service
    6. Financial security and stability
    7. One-stop-shop
    8. Personalized service
    9. Unsurpassed dedication
    10. Coverage designed with your needs in mind

Pharmacy Support

Pharmacists Mutual Insurance Company has been a vital part of the pharmacy community since 1909. Our support helps the profession thrive, grow, and serve where there is the greatest need.

  • Pharmacists Mutual Community Pharmacy Scholarship Program

    up to $50,000 annually to pharmacy students committed to independent, community pharmacies or underserved areas       

  • Pharmacists Mutual Employee Foundation

    provides grants to communities     

  • Scholarship Endowments

    $1 million in donations to the NCPA Foundation, the APhA  Foundation, the IACP Foundation, and the ACA Research and Education Foundation

  • Pharmacy School Presentations

    educates with real-life claims and risk management best practices

  • Corporate Membership


  • Partnerships

    PMG – 40 State Pharmacy Associations

  • Endorsements

    EPIC, Keystone, RXInsider

  • Awards and Entrepreneur Sponsorships

    Distinguished Young Pharmacist Award, Bowl of Hygeia Award Program, Good Neighbor Pharmacy NCPA Pruitt-Schutte Student Business Plan Competition

Risk Management Services

With over a century of experience insuring professionals, we've learned a lot about the kinds of risks professionals face, and what it takes to keep losses under control. Our approach to managing loss is simple. We help our members avoid claims, and if claims do occur, help to keep them from becoming catastrophes. The art of managing risk requires a blend of professional expertise that Pharmacists Mutual brings to the table. Working in a highly collaborative environment, our staff of risk management professionals, pharmacists, pharmacy technicians, and attorneys, bring skill sets and experience needed to keep exposures in check.

Tools and Resources

  • Risk Management Portal
  • Model Policy and Procedures
  • Management and Staff Training
  • Workplace Safety and Consultations
  • Educational Resources


VISTA Commercial Package

  • Commercial Liability
  • Commercial Property
  • Pharmacy Professional Liability
  • Coverage Enhancements

Additional Coverage Options

  • Individual Pharmacist Professional Liability
  • Individual Pharmacy Technician Professional Liability
  • Individual Student Pharmacist Professional Liability
  • Workers' Compensation
  • Commercial Auto
  • Commercial Umbrella

Additional Products

  • Executive Liability
  • Surety and Fidelity Bonds
  • Life
  • Disability
  • Home
  • Auto