Todd was recently featured in the fall 2020 issue of "Quarterly" magazine, a Federation publication sent to all Farm Bureau members. His message is reprinted below.

 

This is my first greeting to customers as executive vice president and chief executive officer of Farm Bureau Mutual Insurance Company of Idaho. Although I’m new to Idaho, I’m not new to Farm Bureau Insurance and the Farm Bureau family. I worked for 25 years at Wisconsin’s Farm Bureau insurance company, Rural Mutual. At Rural, I was part of the leadership team that transformed the company and helped it achieve a superior financial position with competitive products and excellent services.

 

It has been my pleasure since the end of last year to lead the finest employees and agents in Idaho. Together, our family of employees and agents work to understand the needs of people in Idaho, and then meet those needs with customizable coverage and personalized service.

 

This purpose-driven approach to insurance has helped us become the number one writer of farm and ranch insurance in the state, one of the largest writers of all lines including homeowners and auto, and the largest domestic property and casualty insurer in Idaho.

 

Our growth in the insurance industry has been outstanding. In 1947, when our company was founded, our assets were $259,000. In 2019, they were over $500 million. But this doesn’t mean we haven’t had our difficulties. The last few years we have consistently struggled to reach an underwriting gain, which is a profit from our core insurance operations. As a result, this has put a strain on our financial position. However, I can assure you that we have a sound business strategy to address these issues and stay financially strong, and we will be there for you when you need us most.

 

We can proudly say that since 1947, we’ve been there for thousands of Idaho families, businesses, farmers and ranchers, and communities who have suffered devastating losses. In fact, over the last decade alone, we have paid out over $1.1 billion in claims.

 

A recent example is an Idaho business owner who was able to cope with the total loss of his hop processing plant to a fire. Prior to the fire, he had worked with a local Farm Bureau Insurance agent to create a customized policy that included loss of income, an optional coverage that didn’t begin until six months after the fire when the hop harvest began. Without this coverage, this customer would have suffered through a million dollar loss. As it stands, we are actively working with this customer to rebuild his operation.

 

This example shows how a local agent who paid attention to an individual customer’s needs helped the company to better keep our promise to protect that customer from what turned out to be a multi-million dollar claim. When multiplied across the state, cases like this make Farm Bureau Mutual Insurance Company a positive force in Idaho. If you have not had a chance to review your policy coverages, please do not hesitate to contact your agent. Farm Bureau agents are the best at taking care of all of your insurance needs.

 

It is my responsibility to make sure Farm Bureau Insurance continues to deliver on our promises. From our current strong financial base, the Farm Bureau family of employees and agents intend to build the best insurance company possible for the future. We will continue to protect our customers from life’s uncertainties and help build a better Idaho. I am proud to work with our employees and agents toward these goals, and to serve you and each of our over 80,000 Farm Bureau Insurance customers.

​

 

​

​

 

Todd Argall, Executive Vice President and CEO

 

BACK TO TOP