About Us

In 1898, a young entrepreneur named Al Falkenhainer arrived in Titonka, Iowa, and opened the town's first business: a drug store. Four years later, a devastating fire destroyed the store. Rather than accept the loss as an unavoidable risk of doing business, Falkenhainer saw an opportunity to create a better solution for pharmacy owners like himself.

Drawing on his firsthand experience and his deep involvement in the Iowa Pharmaceutical Association, Falkenhainer believed pharmacists could accomplish more by working together. He envisioned an insurance company created by pharmacists, for pharmacists, one that would provide fair claims handling, dependable protection, and a long-term commitment to the profession's success. Driven by that vision and a willingness to challenge the status quo, he helped secure a charter in 1909 and founded the Druggists Mutual Insurance Association.

Falkenhainer's vision extended beyond simply insuring pharmacies. He wanted to build an organization that could adapt and grow alongside the healthcare professionals it served. More than a century later, that spirit of innovation, service, and mutual support continues to guide the company.

In 1992, the company adopted the name Pharmacists Mutual Insurance Company and expanded its reach to serve customers in all 50 states and the District of Columbia. In 2026, the organization restructured into a mutual holding company, Pharmacists Mutual Insurance Group (PMIG). As part of this transition, Pharmacists Mutual Insurance Company was legally renamed Pharmacists Insurance Company, which today serves as one of PMIG's underwriting companies. While the legal entity name changed, Pharmacists Mutual remains the customer-facing brand trusted by healthcare professionals for more than 115 years. Together with Chiron Insurance Company, Pharmacists Insurance Company continues to provide specialized coverage, service, and claims support customers have long associated with the Pharmacists Mutual name.

Today, Pharmacists Mutual is a nationally recognized leader in insurance and risk management for healthcare professionals and organizations. The company serves more than 60,000 insureds and provides over 80,000 policies nationwide, while remaining true to Falkenhainer's founding principle: caring for those who care for others through personalized service, trusted protection, and long-term partnership.