Press Release

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Farmers Insurance introduces to Oregon, “iBOP,” a new, expanded business insurance policy for educational, social service, cultural and religious institutions

LOS ANGELES, CA—(July 5, 2010)—Farmers Insurance Group of Companies® has introduced an innovative Institutional Business Owners Policy (iBOP) for institutions across America.  iBOP offers a broad spectrum of coverages and is competitive with what is available in the insurance market today.

“In our world today institutional organizations are growing, building and trying hard to keep up with a growing population. Because of this, Farmers agents realized the insurance needs for these institutions are also growing and made it clear that we needed to step into the breach to meet the needs of our customers” explains Mhayse Samalya, President, Farmers Business Insurance.

“iBOP offers a comprehensive package of coverages while still offering the customer the flexibility to customize the policy to meet their unique needs,” Samalya continues.  “iBOP is designed to serve a spectrum of religious institutions, educational institutions, social service organizations (including Day Care Centers), and cultural organizations, and offers a one-stop-shop package to meet all of their insurance needs.”

Religious organizations including:

  • Churches
  • Synagogues
  • Mosques
  • Other Houses of Worship
  • Convents and Monasteries
  • Shrines
  • Temples

Educational organizations including:

  • Private & Parochial Schools, Grades K-9
  • Correspondence Schools
  • Business, Trade and Vocational Schools
  • And others such as: Art, Baton, Bible, Ceramics, Dance, Diction, Drama, Language, Music, Reading

Social Service organizations including:

  • Clubs
  • Business, Civic & Social Clubs (Gardening, Kiwanis, Lions, etc)
  • Associations & Societies (Alumni, PTA, Poetry, Singing, etc)
  • Masonic Lodges
  • Non Profit Organizations
  • Marriage & Family Counseling
  • Vocational Rehabilitation
  • Day Care Centers, Nursery Schools & Pre-K

Cultural organizations including:

  • Art Councils
  • Art Galleries
  • Botanical Gardens
  • Cultural Clubs
  • Historical Societies
  • Museums
  • Planetariums

“The expanded iBOP program is another in a long line of product innovations that Farmers provides to meet its customers needs now and in the future,” Samalya notes.  “Farmers agents in Oregon are now prepared to not only give personal service to the coverages for their customers personal lives (Home, Auto, Life) and business lives, and now offer a great expanded business product that can meet the needs of Institutions throughout America.”

Farmers is a trade name and may refer to Farmers Group, Inc. or the Farmers Exchanges, as the case may be.  Farmers Group, Inc., a management and holding company, along with its subsidiaries, is wholly owned by the Zurich Financial Services Group.  The Farmers Exchanges are three reciprocal insurers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange), including their subsidiaries and affiliates, owned by their policyholders, and managed by Farmers Group, Inc. and its subsidiaries. For more information about Farmers, visit our Web site at www.farmers.com and visit Farmers on Facebook at http://www.facebook.com/FarmersInsurance

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