Midstate Mutual Insurance Company

What Midstate Mutual Insurance Company does

Midstate Mutual Insurance Company is a private mutual property and casualty insurer founded in 1879 and headquartered in Auburn, New York. The company underwrites personal lines (homeowners, landlord, seasonal homes, manufactured homes, and bed and breakfast properties) and small commercial lines (mercantile, restaurants, apartment buildings, motels, office buildings, and artisan contractors), distributing exclusively through a network of 229+ independent insurance agents across upstate New York. Specialty add-on coverages address Inland Flood, Home Cyber, Cyber Suite for businesses, and Employment Practices Liability. Midstate Mutual carries an A- (Excellent) Financial Strength Rating from AM Best and is licensed under New York State insurance law, with ownership vested in its policyholders under a mutual structure. The company is generating premium revenue through insurance premiums collected from policyholders, with pricing obtained via independent agents on a quote basis; specific premium volumes and revenue figures are not publicly disclosed.

The carrier's technology posture centers on the Finys Suite core platform, selected in February 2026 to replace a legacy home-built system, with Finys Design Studio providing configurability for line-of-business templates and integration support for New York's Underwriters Rating Board. The company is a member of NAMIC, NYIA, Big I NY, and PIA, and operates with a small employee base (11-50) supported by an in-house claims department and a self-service policyholder portal. No AI, machine learning, or proprietary data products are disclosed, and growth signals are concentrated in product breadth and operational modernization rather than geographic expansion or M&A.

Name

Midstate Mutual Insurance Company

Legal name

Midstate Mutual Insurance Company

Website

https://midstatemutual.com

Company type

Private

Founded year

1879

Operating status

Operating

Headcount range

11–50 employees

Short description

Midstate Mutual is a New York-licensed mutual property and casualty insurer founded in 1879, underwriting personal and small commercial coverage for upstate New York families and businesses exclusively through 229+ independent agents.

Ownership category

akta.pro rank

Product category

Property and Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Homeowners Insurance (FSAJACAA)

akta.pro secondary industry

Flood Insurance (FSAJACAG)

Keywords

• Property and casualty insurance
• Personal lines insurance
• Commercial lines insurance
• Mutual insurance company
• Independent agent distribution

Headquarters

HQ city

Auburn

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Midstate Mutual generates revenue through insurance premiums collected from policyholders. As a mutual insurance company, it provides personal insurance (homeowners, landlord, seasonal homes, manufactured homes, bed and breakfast) and business insurance (mercantile, restaurants, apartment buildings, motels, artisan contractors) products sold exclusively through independent agents in upstate New York.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Midstate Mutual Insurance Company underwrites and sells personal and commercial property and casualty insurance products—including homeowners, manufactured homes, seasonal homes, landlord, and bed & breakfast coverage on the personal side, and mercantile, restaurant, apartment, motel, office, and artisan contractor coverage on the commercial side—through a network of independent agents across upstate New York. Specialty add-on coverages address inland flood, home cyber, business cyber suite, and employment practices liability risks. The company operates as a policyholder-owned mutual insurer headquartered in Auburn, NY.

Product overview

Midstate Mutual Insurance Company offers a portfolio of personal and commercial insurance products distributed through independent agents across New York State. Personal insurance products include Homeowners (their flagship offering), Manufactured Homes, Seasonal Homes, Landlord Program, and Bed & Breakfast Program. Business insurance products cover Mercantile, Apartment Buildings, Restaurants, Office Buildings, Motels, and Artisan Contractors. Specialty add-on coverages include Inland Flood Coverage and Home Cyber Protection for personal lines, and Cyber Suite Coverage and Employment Practices Liability for business lines. The company operates as a technology-driven mutual insurer, having recently selected Finys Suite as its core system platform to modernize operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Homeowners Insurance Comprehensive property and liability protection for primary residences with competitive pricing and tailored coverage options; Midstate's most popular personal lines product, distributed through independent agents in upstate New York.
• Manufactured Homes Insurance Specialized coverage designed specifically for owners of manufactured and mobile homes, addressing the distinct risks of factory-built housing.
• Seasonal Homes Insurance Insurance protection for vacation properties, cabins, and seasonal residences that are not occupied year-round.
• Landlord Program Tailored insurance for rental property owners including structure coverage, liability coverage, and loss of rental income coverage for properties made uninhabitable by covered events.
• Bed & Breakfast Program Comprehensive insurance for bed and breakfast and small hospitality properties, addressing liability exposures and property risks of welcoming paying guests.
• Inland Flood Coverage Specialty flood protection for low-to-moderate flood risk areas covering both fluvial and pluvial flooding sources, including dwelling, personal property, basement, and living expense coverage.
• Home Cyber Protection Personal lines specialty coverage defending against cyber attacks, online fraud, and identity theft including cyber attack response, cyber extortion coverage, data breach response, and identity recovery services.
• Mercantile Insurance Commercial insurance coverage for retail stores, shops, and other mercantile businesses, addressing property, liability, and operational risks.
• Apartment Buildings Insurance Insurance protection for apartment complexes and multi-family dwellings, including property, liability, and loss of rental income coverage.
• Restaurants Insurance Specialized commercial coverage for restaurants, cafes, and food service businesses addressing property, liability, and food-service-specific risks.
• Office Buildings Insurance Commercial property coverage for office spaces and professional buildings, addressing property and liability risks of professional occupancies.
• Motels Insurance Insurance protection for motel and small lodging operations, addressing hospitality-specific property and liability exposures.
• Artisan Contractors Insurance Liability and property coverage for skilled tradespeople and contractors addressing the operational and liability exposures unique to artisan contracting work.
• Cyber Suite Coverage Business cyber specialty coverage offering data compromise response, computer attack protection, privacy and network security liability, cyber extortion coverage, and risk management tools for small and mid-sized businesses.
• Employment Practices Liability Specialty liability protection for small to mid-sized businesses against discrimination, harassment, retaliation, and wrongful termination claims, including liability, defense costs, and third-party coverage plus employment law resources.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Finys (Verisk)coreTechnology or Integration · 10 February 2026Midstate Mutual selected Finys Suite as its core system platform to replace a legacy home-built system. The selection was driven by Finys Design Studio's configurability capabilities and the vendor's experience supporting carriers that use Underwriters Rating Board in New York. Finys will provide early access to line-of-business templates to enable Midstate Mutual stakeholders to review and align on configuration updates.
• National Association of Mutual Insurance Companies (NAMIC)minorOthersIndustry trade association membership - the largest property/casualty insurance trade association in the country. Membership provides access to industry best practices and advocacy.
• New York Insurance Association (NYIA)minorOthersIndustry association representing property and casualty insurers doing business in New York State. Membership supports regulatory compliance and industry advocacy.
• Big I NY (Independent Insurance Agents & Brokers of New York)minorOthersIndustry association representing independent insurance agents and brokers in New York. Supports the independent agent channel that Midstate Mutual uses for distribution.
• Professional Insurance Agents (PIA)minorOthersNational trade association representing independent insurance agents. Membership provides continuing education and industry resources.
• Underwriters Rating Board (URB)minorOthersProvides rating and statistical services for the insurance industry. Midstate Mutual uses URB for rating services as a New York-based carrier.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• NYCM Insurance: A New York regional P&C mutual offering personal and commercial coverage through independent agents. Comparable in mutual structure, New York concentration, and small-to-mid-market focus.
• Tompkins Insurance Agencies: A NY-based independent insurance agency and carrier affiliate offering personal and business P&C coverage in upstate markets. Comparable in regional upstate NY customer base and product mix.
• Dryden Mutual Insurance Company: A small New York mutual P&C insurer offering homeowners and small commercial coverage through independent agents. Comparable in scale, product mix, and regional mutual orientation.
• Utica National Insurance Group: A New York-based regional mutual P&C insurer offering personal and commercial lines through independent agents. Closely comparable in mutual structure, regional NY focus, and agent-driven distribution.
• Security Mutual Insurance Company: A New York-based mutual P&C carrier distributing through independent agents across personal and commercial lines. Comparable in mutual structure, regional focus, and distribution model.
• Preferred Mutual Insurance Company: A New York-domiciled mutual P&C carrier serving personal and small commercial customers through independent agents. Directly comparable in size, mutual structure, and upstate NY footprint.

Broad incumbents

• Hanover Insurance Group: A regional P&C carrier offering personal and commercial lines through independent agents in the Northeast. Comparable in independent agent distribution and small/mid commercial specialization, though significantly larger.
• Main Street America Insurance: A mutual P&C insurance group serving small commercial and personal lines through independent agents across multiple states. Comparable in mutual structure and small commercial focus, though multi-state in scope.
• Plymouth Rock Assurance: A Northeast regional P&C carrier offering personal lines through independent agents and direct channels. Comparable in personal lines emphasis and Northeast footprint, though broader in geographic reach.
• Erie Indemnity Company: A larger regional P&C insurer with a strong agency distribution model across the Northeast and Mid-Atlantic. Comparable in independent agent channel strategy and personal/commercial lines focus, though materially larger in scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/midstatemutual
• LinkedInlinkedin.com/company/midstate-mutual-insurance-company

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Midstate Mutual Insurance Company