FREE 2008
Annual Report

Fabricare is our only business!

NIE only insures fabricare businesses. It writes insurance for thousands of dry cleaners and coin laundries in 31 states. NIE’s full legal name is National Fire and Indemnity Exchange.

NIE was founded in 1915 as the National Association of Dyers & Cleaners Inter-Insurance Exchange. As a reciprocal exchange, it has no stockholders. NIE’s profit distributions are to its policyholders, who are also known as subscribers. NIE has a long history of distributing a high percentage of its profit back to its policyholders. NIE only issues non-assessable policies.

NIE’s policyholders elect an Advisory Committee of fabricare business owners to decide what to do with the Exchange’s profit, how the Exchange’s assets should be invested, what actuarial firm should analyze the Exchange’s loss reserves and what CPA firm should audit the Exchange’s financial statements.

NIE's entire workforce spends ALL of its working hours on fabricare insurance. Employees' average tenure at NIE is 12 years! They have experience with most any insurance problem a fabricare business is likely to face. They work directly with fabricare businesses and can be easily contacted by calling 800.325.9522.

From our scrapbook

NIE has a wonderful collection of industry ads and memorabilia throughout the years.

Please visit our scrapbook to view more glimpses of our history.