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Insurance


Insurance  |  Employee Benefits  |  Property and Casualty  |  Underground Storage Tank Insurance


Insurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium.

Insurance allows individuals, businesses and other entities to protect themselves against significant potential losses and financial hardship at a reasonably affordable rate. Insurance is appropriate when you want to protect against a significant monetary loss. We are pleased to offer members of the association access to exclusive insurance products and group purchasing power on these products.

PMCI recommends the Trust for employee insurance products, EMC Insurance for property and casualty insurance products and PMMIC for underground storage tank insurance products.

PMCI endorses Wellmark’s Blue Cross Blue Shield of Iowa medical insurance through the PMCI Trust. The Trust was formed in 1955 by petroleum marketers as a business mechanism to self-insure health and dental insurance for employees and their families. The Trust is one of only two Multiple Employer Welfare Agreements (MEWAs) authorized to be in existence in the State of Iowa. MEWAs are special insurance companies providing benefits to members of an association or like industries. PMCI endorses Delta Dental for the dental plan through the Trust.

PMCI has endorsed EMC Insurance for property and casualty insurance since 1983. EMC provides a group safety dividend to members of PMCI and provides exclusive coverage options to members of the association. PMCI also utilizes the services of LMC Insurance as a general agent for EMC products. LMC also provides the marketing and direct client customer service functions for the Trust. Both LMC and EMC provide employers with tools and compliance information and educational materials for any risk management subject known to mankind. They are available to do one-on-one consulting and employee training for your business. Contact PMCI for more details.

The Petroleum Marketers Management Insurance Company (PMMIC) was formed in 2000 when the legislature privatized the insurance portion of the State’s UST Cleanup Fund. Underground storage tank owners are required by federal and state law to provide financial responsibility as a condition of UST ownership and operation. PMMIC provides risk management products for UST and ASTs.

For more details on these Insurance products, select the appropriate pages from the list below.


Insurance  |  Employee Benefits  |  Property and Casualty  |  Underground Storage Tank Insurance


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