Capital Mutual Insurance Company (CMIC) was organized on April 5, 1933, as the Capital District Grange Cooperative Fire Insurance Company for the purpose of transacting business as an assessment cooperative fire insurance company in Albany, Greene, Rennselaer and Washington counties in New York State. On January 1, 1982, CMIC was reorganized and incorporated under its present name. CMIC became the successor to the Capital District Co-Operative Insurance Company, a non-assessable cooperative insurance company, which had previously acquired, by merger, Clinton Co-Operative Insurance Company of Wadhams, Argyle Co-Operative Insurance Company, Schaghiticoke Mutual Fire Insurance Company, Rennselaer County Mutual, and Farmers Mutual Fire Insurance Association of the Town of Catskill.
Effective June 26, 1996, CMIC converted from an advance premium cooperative insurer to a mutual insurer. At that time, CMIC became affiliated with Niagara Atlantic Holdings Corporation, a New York subsidiary of National Atlantic Holdings Corporation of Freehold, New Jersey. CMIC was authorized under its charter to transact multiple lines of insurance only in New York State. [Lines of Business included: fire, burglary and theft, collision, personal injury, property damage, motor vehicle and aircraft physical damage.]
The Board of Directors of CMIC consented to the entry of an Order of Rehabilitation on April 17, 2000. The company was placed into Liquidation on October 5, 2000.