Philadelphia Contributionship
{{Use American English|date=January 2025}}
{{Use mdy dates|date=August 2023}}
{{Infobox NRHP
| name = Philadelphia Contributionship
| nrhp_type = nhl
| image = Philadelphia_Contributionship.jpg
| image_size = 267px
| caption = The Philadelphia Contributionship in 2013
| location = 212 S. 4th Street
Philadelphia, Pennsylvania, U.S.
| coordinates = {{coord|39.946825|-75.148249|format=dms|display=inline,title}}
| locmapin = Philadelphia#Pennsylvania#USA
| built = 1835-36
| architect = Thomas U. Walter
Collins and Autenreith{{cite philarch}}, p.50
| architecture = Greek Revival
| added = May 27, 1971{{NRISref|2007a}}
| refnum = 71000732
| designated_other1_name = Pennsylvania state historical marker
| designated_other1_abbr = PHMC
| designated_other1_date = December 17, 1954{{cite web | title =PHMC Historical Markers | work =Historical Marker Database | publisher =Pennsylvania Historical & Museum Commission | url =http://search.pahistoricalmarkers.com/ | access-date =December 10, 2013 | archive-url =https://archive.today/20131207041235/http://search.pahistoricalmarkers.com/ | archive-date =December 7, 2013 | url-status =dead }}
| designated_other1_link = List of Pennsylvania state historical markers
| designated_other1_color = navy
| designated_other1_textcolor = #ffc94b
}}
File:Philadelphia Contributionship Historical Marker 212 S 4th St Philadelphia PA (DSC 4241).jpg]]
The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire is the oldest property insurance company in the United States. It was organized by Benjamin Franklin in 1752 and incorporated in 1768.{{Cite web|url=http://www.contributionship.com/history/index.html |title=Key events in the history of Contributionship |access-date=2008-10-18 |publisher=The Contributionship Companies |url-status=dead |archive-url=https://web.archive.org/web/20110205135317/http://www.contributionship.com/history/index.html |archive-date=February 5, 2011 }}
The Contributionship's building, at 212 S. 4th Street between Walnut and Locust Streets in the Society Hill neighborhood of Philadelphia, was built in 1835-36 and was designed by Thomas U. Walter in the Greek Revival style, with Corinthian columns. The portico was replaced in 1866 by Collins and Autenreith, who also expanded the living quarters on the top two floors by adding a mansard roof. A marble cornice between the third and fourth floors was also added. The building was listed on the National Register of Historic Places in 1971 and was designated a National Historic Landmark in 1977.{{Cite journal|title=National Register of Historic Places Inventory-Nomination: Philadelphia Contributionship|url={{NHLS url|id=71000732}} |format=pdf|date=May 1977 |author=George R. Adams |publisher=National Park Service}} and {{NHLS url|id=71000732|title=Accompanying 9 photos, exterior and interior, from 1972 and 1977|photos=y}} {{small|(32 KB)}}
History
The Philadelphia Contributionship (TPC) was founded in 1752, largely through the efforts of Benjamin Franklin. It was structured as a mutual insurance organization, providing fire insurance to a limited area in and around Philadelphia. It introduced several key principles that underpin modern insurance techniques, including inspecting properties to be insured and setting rates based on a risk assessment. Buildings not constructed to specified standards were rejected for coverage, and rates could be raised for unsafe living practices, such as storing combustible materials in wooden buildings. The company was also the first to establish a financial reserve to pay claims.
Franklin's newspaper, The Pennsylvania Gazette, first began to advertise the upcoming (April 13, 1752) organizational meeting in its issue of February 18, with a notice that "All persons inclined to subscribe to the articles of insurance of houses from fire, in or near this city, are desired to appear at the Court-house, where attendance will be given, to take in their subscriptions, every seventh day of the week, in the afternoon, until the 13th of April next, being the day appointed by the said articles for electing twelve directors and a treasurer." The Pennsylvania Gazette, February 18, 1752, p2The Pennsylvania Gazette, March 17, 1752, p2
The company directors first met in taverns and other public meeting spaces, with larger organizational meetings at the courthouse. Its directors finally purchased land for a permanent headquarters in 1835.
Current Day
The Philadelphia Contributionship is still up and running today, offering Homeowners Condo & Renters, Landlord Property, and Umbrella Liability Insurance Policies among other unique coverages. The network of agents has since expanded to serve in Pennsylvania, New Jersey, Delaware, Maryland, and Virginia. The Philadelphia Contributionship. (2023, August 8). https://1752.com/
TPC staffs over 120 employees and has been named a Top Workplace in Philadelphia by The Philadelphia Inquirer for 5 years. The Philadelphia Inquirer - Top Workplaces 2023. The Philadelphia Inquirer. (2023a, August 29). https://sponsored.inquirer.com/philadelphia-inquirer-top-workplaces-2023-hub/
Early directors
| class="wikitable"
|+Notable early directors of the company included: !Name !! Occupation | |
| William Coleman | judge |
| Benjamin Franklin | printer |
| Samuel Rhoads | architect / master carpenter |
| Philip Syng | silversmith |
See also
References
Notes
{{Reflist}}
External links
- {{Commons category-inline}}
- {{Official website}}
- [http://www.contributionship.com/history/index.html Key events in the history of Contributionship] – official website of the Contributionship Companies
- {{HABS |survey=PA-1457 |id=pa1055 |title=Philadelphia Contributionship, House Fire Insurance, 212 South Fourth Street, Philadelphia, Philadelphia County, PA |photos=7 |data=2 |cap=1}}
{{Society Hill}}
{{National Register of Historic Places in Pennsylvania|state=collapsed}}
{{Benjamin Franklin}}
Category:Financial services companies established in 1752
Category:Buildings and structures on the National Register of Historic Places in Philadelphia
Category:Historic American Buildings Survey in Philadelphia
Category:National Historic Landmarks in Pennsylvania
Category:Office buildings completed in 1836