The Philadelphia Contributionship

About

Dependable insurance partners since 1752.

Story

In 1752 Benjamin Franklin and his fellow firefighters founded The Philadelphia Contributionship, the nation’s oldest successful property and casualty insurance company. The company formed as a mutual insurance company, one in which policyholders would come together to share the risks, modeled after the Amicable Contributionship of London.

Philadelphia was a relatively small town in 1752 with approximately 15,000 inhabitants and 8 volunteer fire companies. Fire prevention elements played a large role in the planning of the city; streets were wider than average and brick and stone were common building elements. Despite preventive measures and the efforts of firefighters, fires did still occur. Insurance offered a safety net and Philadelphians were quick to take advantage of it. A notice appeared in The Pennsylvania Gazette advertising the new venture in February and by April there were enough interested subscribers to hold a general meeting and elect a board of directors. By June the directors were issuing seven year renewable term policies, covering only the building. Policyholders would pay a deposit, refundable at the end of that seven year period, minus a small fee for the survey, policy and fire mark.

Mission

We provide insurance protection that puts people first, through uniquely personal service, strong partnerships and an unmatched history of financial stability.