After nearly nine years leading the company, NCMIC CEO Mike McCoy has announced he will retire at the end of this year.
McCoy, who took over as CEO in 2017, has led NCMIC through financial and community expansion. Under his leadership, the company increased its market share to 60% and grew its assets by $271 million, pushing past $1 billion, a NCMIC press release noted.
The company’s surplus climbed by $142 million and it has maintained an “A” (Excellent) rating from A.M. Best. McCoy also guided NCMIC’s finance subsidiary to become a top revenue driver, boosting annual payment processing by 40% to more than $2 billion.
Building a strong culture
McCoy prioritized innovation, inclusivity and collaboration. He launched a vision, mission and values framework to unify employees and strengthen workplace culture. His focus on leadership development and talent acquisition reshaped NCMIC’s management team, ensuring long-term stability.
McCoy also expanded NCMIC’s community support. The company now donates more than $1 million annually to at least 150 organizations. NCMIC has been recognized as a Top Workplace in Iowa for seven years in a row and received multiple awards from business groups in Des Moines.
“Since Mike’s arrival, NCMIC has flourished—not just as a company but as a community partner,” said Wayne Wolfson, DC, president of NCMIC Group Inc. “His vision and dedication have strengthened NCMIC’s standing in the chiropractic profession and beyond. His leadership set a standard of excellence that will guide us into the future.”
Commitment to service
McCoy has been active in the Des Moines community, serving as chair of the United Way of Central Iowa Annual Campaign (2024), Bravo Greater Des Moines (2023-2024), the Greater Des Moines Partnership (2023) and ChildServe (2022). He has also served on boards for UnityPoint Health Foundation, Grand View University and the Principal Charity Classic.
“NCMIC is a special place. ‘We Take Care of Our Own’ isn’t just a motto—it’s what we do,” McCoy said. “Whether supporting employees, serving doctors or giving back to the community, this company makes a real impact. Leading NCMIC has been an incredible privilege.”
Planning for the transition
The NCMIC Board of Directors has formed a search committee to review the company’s succession plan and find a new CEO.
“I have complete confidence in the team at NCMIC,” Wolfson said. “Their passion and commitment have driven our success and I look forward to seeing them continue this momentum into the future.”
For more information, visit ncmic.com.
About NCMIC
NCMIC was formed in 1946 by a group of doctors of chiropractic with the express purpose of offering malpractice insurance to DCs when no one else would. Delivering on its promise, “We Take Care of Our Own®,” NCMIC has grown to become the largest provider of chiropractic malpractice insurance in the nation and has expanded its offerings to include business and personal insurance, equipment loans, credit card processing, business credit cards, and premium financing. With more than 75 years of experience and an “A” (Excellent) rating from industry analyst A.M. Best, NCMIC is a company that DCs can rely on today and in the years to come. For more information, please visit ncmic.com.
