WATERLOO, Iowa (November 3, 2020)—VGM Insurance Services, a division of VGM Group Inc., is celebrating 30 years as a recognized leader in providing specialty insurance programs for a variety of niche industries.
“We’re excited to celebrate such an important milestone,” said Mike Mallaro, VGM Group’s chief executive officer. “VGM Group as a whole has experienced significant growth over the past three decades, and VGM Insurance has been essential to that progress.”
To establish itself as a leader in the industries it serves, VGM Insurance has worked through constant change, growth, innovation and diversification over the last 30 years—yet it’s the past five years that have seen the greatest rate of change.
“We’re just in the beginning,” said Mike Kloos, president of VGM Insurance. “30 years is young for an insurance company. To have grown the way we have in such a short amount of time is extraordinary, but I’m even more excited for the next 30 years.”
Over the last five years alone, VGM Insurance has seen immense growth. They’ve made strategic acquisitions and diversified from servicing primarily home medical equipment providers to many other Allied Healthcare classes, in addition to businesses in the golf and hospitality industries. The company’s portfolio of coverage offerings has also grown to include general and professional liability, property, workers’ compensation, excess liability, business auto, cyber liability, employment practices liability and more.
As VGM Insurance continues to add services and offerings, its workforce has expanded as well. Yet, they’ve been able to maintain their VGM family culture. They were named one of the best places to work in insurance by Business Insurance magazine in 2018 and 2020, along with their parent company VGM Group, Inc. being named a top workplace for large companies in Iowa four times in the past six years. All of these achievements they attribute to employee ownership.
“Our employees own the place,” said Mallaro. “We’re a 100% employee-owned company, we’re a family, and each employee owner strives to make a difference every single day.”
Part of the way they make a difference is understanding their customers’ risks. “We live in a highly litigious time,” said Linda Braden, senior vice president for VGM Insurance. “Our employee owners are experts in the industries we serve. We understand how to defend and mitigate loss for our customers. And we understand that filing a claim can be a trying time. It’s part of the reason our people are so important as we support our customers throughout the process.”
“We couldn’t have accomplished what we have without everyone—our employee owners, customers, broker partners, and industry partners—we wouldn’t exist without them. And we thank them all for their continued dedication and support,” Kloos concluded.
VGM Insurance has more plans to celebrate this 30-year milestone.
For more information about the company and its 30-year anniversary, visit vgminsurance.com.