In early 1944, North Dakota Farmers Union members attending a County Officers Conference focused their attention on the increasing lack of access by farmers to rural property insurance. This concern inspired farmers attending the conference to raise $15,000 among themselves to breath life into Farmers Union Mutual Insurance. Incorporated in March 1944, Farmers Union Mutual Insurance was awarded a license from the state on April 3.

As a mutual company, Farmers Union Mutual Insurance is owned and governed by its policyholders in much the same way that a cooperative is owned and operated by its members. Headquartered in Jamestown, ND, Farmers Union Mutual Insurance delivers a wide variety of products to farmers, ranchers, homeowners, and businesses across North Dakota. At the annual meeting, policyholders elect directors to oversee the company. Individual operating departments include claims, customer service, and underwriting.

Through the protection the company affords policyholders and its investment portfolio, Farmers Union Mutual Insurance is committed to both rural and urban North Dakota. The investment portfolio includes municipal bonds designed to assist communities and local government agencies with the ability to provide public assistance and services to residents of local communities and North Dakota.