Friday, January 24, 2020
Text Size

History of Otsego Mutual - Management Today

Article Index
History of Otsego Mutual
A Legacy
A Legacy continued
The Ward Hinds Years
Decades of Loyalty
Patrick A. Burke's Tenure
Management Today
All Pages

Shortly after the passing of her father, Kelley Burke Cough was elected president of the company. Other officers are Kevin Cough, vice president (2015); Terry Gras, secretary (1991); Judith Hamilton, assistant secretary (2009); and Gregory Gaeta, treasurer (2011).

Like her father before her, Cough continues to strive for growth in financial strength (surplus), while at the same time maintaining the small physical size of the business.

With efficiency of operations and preservation of quality personal service priorities, the company is well positioned for another century of success. This will be accomplished with a devoted, well-trained staff, a strong financial foundation and a loyal agent and policyholder base.

Upon completion of its 106th year in 2003, Otsego Mutual had 80 agents throughout New York State, producing $14.3 million in written premiums. Company assets totaled a record $60.7 million, while liabilities were $8.2 million, leaving policyholder surplus at $52.5 million, also a new benchmark. Due to its conservative stature and superior financial strength, Otsego continues to be rated A+. Recently, A.M. Best's Review highlighted Otsego as one of only 15 casualty insurance companies to be listed at A+ or higher for 50 consecutive years. President Kelley Burke Cough stated in the article, "Quality vs. quantity applies to many aspects of the business, from our financial strength to our employees. While the company's staff may be small in number, its employees and agents are "top quality."

The success of mutual insurance companies has always been grounded in careful selection of risks and extraordinary loss prevention, even if this prevented growth in premium writings. Throughout its history, Otsego Mutual has stuck to this formula for success. It was, and continues to be, this adherence to the mutual philosophy that has allowed the company to survive two World Wars, the Great Depression, various natural disasters and difficult competitive forces to achieve its current prosperity.