Philadelphia Contributionship

Last updated

Philadelphia Contributionship
Philadelphia Contributionship.jpg
(2013)
Street map of Philadelphia and surrounding area.png
Red pog.svg
USA Pennsylvania location map.svg
Red pog.svg
Usa edcp location map.svg
Red pog.svg
Location212 S. 4th Street
Philadelphia, Pennsylvania
Coordinates 39°56′49″N75°08′54″W / 39.946825°N 75.148249°W / 39.946825; -75.148249
Built1835-36
Architect Thomas U. Walter
Collins and Autenreith [1]
Architectural style Greek Revival [1]
NRHP reference No. 71000732
Significant dates
Added to NRHPMay 27, 1971 [2]
Designated NHLDecember 22, 1977 [3]
Designated PHMCDecember 17, 1954 [4]
Philadelphia Contributionship Historical Marker at 212 S 4th St Philadelphia PA Philadelphia Contributionship Historical Marker 212 S 4th St Philadelphia PA (DSC 4241).jpg
Philadelphia Contributionship Historical Marker at 212 S 4th St Philadelphia PA

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. [1] [5]

Contents

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. [1] The building was listed on the National Register of Historic Places in 1971 and was designated a National Historic Landmark in 1977. [3] [6]

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. [6]

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." [7] [8]

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. [6]

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. [9]

TPC staffs over 120 employees and has been named a Top Workplace in Philadelphia by The Philadelphia Inquirer for 5 years. [10]

Early directors

Notable early directors of the company included:
NameOccupation
William Coleman judge
Benjamin Franklin printer
Samuel Rhoads architect / master carpenter
Philip Syng silversmith

See also

Related Research Articles

<span class="mw-page-title-main">Pennsylvania Hospital</span> Hospital in Pennsylvania, United States

Pennsylvania Hospital is a private, non-profit, 515-bed teaching hospital located at 800 Spruce Street in Center City Philadelphia, The hospital was founded on May 11, 1751 by Benjamin Franklin and Thomas Bond, and was the first established public hospital and first surgical ampitheatre in the United States. and its first medical library. It is part of the University of Pennsylvania Health System.

<span class="mw-page-title-main">Reading Terminal</span> Former rail station in Philadelphia

The Reading Terminal is a complex of buildings that includes the former Reading Company main station located in the Market East section of Center City in Philadelphia, Pennsylvania, United States. It comprises the Reading Terminal Headhouse, Trainshed, and Market.

<span class="mw-page-title-main">National Register of Historic Places listings in Philadelphia</span>

This is a list of the National Register of Historic Places listings in Philadelphia, Pennsylvania. There are more than 500 properties and districts listed on the National Register in Philadelphia, including 67 National Historic Landmarks.

<span class="mw-page-title-main">Logan Square, Philadelphia</span> Neighborhood of Philadelphia in Pennsylvania, United States

Logan Square is a neighborhood in Philadelphia, Pennsylvania, United States. Bounded by Market Street on the south, Spring Garden Street on the north, Broad Street on the east, and the Schuylkill River on the west, it occupies the northwestern quadrant of Center City. The square for which it is named is one of the five squares central to William Penn's design for Philadelphia. Originally called Northwest Square, it was renamed in honor of James Logan, an 18th-century mayor of Philadelphia.

<span class="mw-page-title-main">Betsy Ross House</span> House in Philadelphia, Pennsylvania

The Betsy Ross House is a landmark in Philadelphia. It is purported to be the site where the seamstress and flag-maker Betsy Ross (1752–1836) lived when she is said to have sewed the first American flag.

<span class="mw-page-title-main">Carpenters' Hall</span> United States historic place

Carpenters' Hall, in Independence National Historical Park in Philadelphia, Pennsylvania, is the official birthplace of the Commonwealth of Pennsylvania and a key meeting place in the early history of the United States. Completed in 1775, the two-story brick meeting hall was built for and still privately owned by the Carpenters' Company of the City and County of Philadelphia, the country's oldest extant craft guild.

<span class="mw-page-title-main">Insurance Company of North America</span>

Insurance Company of North America (INA) is the oldest stock insurance company in the United States, founded in Philadelphia in 1792. It was one of the largest American insurance companies of the 19th and 20th centuries before merging with Connecticut General Life to form CIGNA in 1982, and was acquired by global insurer ACE Limited in 1999.

<span class="mw-page-title-main">John Johnson House (Philadelphia, Pennsylvania)</span> Historic house in Pennsylvania, United States

The John Johnson House is a National Historic Landmark in the Germantown section of Philadelphia, significant for its role in the antislavery movement and the Underground Railroad. It is located at 6306 Germantown Avenue and is a contributing property of the Colonial Germantown Historic District, which is also a National Historic Landmark. It is operated today as a museum open to the public.

<span class="mw-page-title-main">Buckingham Friends Meeting House</span> Historic church in Pennsylvania, United States

The Buckingham Friends Meeting House is a historic Quaker meeting house at 5684 Lower York Road in Buckingham Township, Bucks County, Pennsylvania. Built in 1768 in a "doubled" style, it is nationally significant as a model for many subsequent Friends Meeting Houses. It was declared a National Historic Landmark in 2003.

<span class="mw-page-title-main">Insurance Company of North America Building (Philadelphia)</span> United States historic place

The Insurance Company of North America Building, now known as The Phoenix, is a historic commercial building in downtown Philadelphia. Built in 1925, it was for many years the home of the Insurance Company of North America (INA), the nation's first and oldest joint-stock insurance company. It was designated a National Historic Landmark in 1978. The building, occupied by INA until 1991, has been developed into condominiums.

<span class="mw-page-title-main">Philadelphia Lazaretto</span> United States historic place, first quarantine hospital in the United States

The Philadelphia Lazaretto was the Second quarantine hospital in the United States, built in 1799, in Tinicum Township, Delaware County, Pennsylvania. The site was originally inhabited by the Lenni Lenape, and then the first Swedish settlers. Nearby Province Island was the site of the confinement of the Christian Moravian Indians who were brought there under protective custody from Lancaster, Pennsylvania, in 1763 when their lives were threatened by the Paxton Boys. The facility predates similar national landmarks such as Ellis Island Immigrant Hospital and Angel Island and is considered both the oldest surviving quarantine hospital and the last surviving example of its type in the U.S.

<span class="mw-page-title-main">Edwin Forrest House</span> Historic house in Pennsylvania, United States

The Edwin Forrest House is an historic house and arts building, which is located at 1346 North Broad Street in Philadelphia, Pennsylvania. Built between 1853 and 1854, it was home, from 1880 until 1960, to the Philadelphia School of Design for Women, at one time one of the nation's largest art schools for women.

<span class="mw-page-title-main">National Register of Historic Places listings in Franklin County, Pennsylvania</span>

This is a list of the National Register of Historic Places listings in Franklin County, Pennsylvania.

<span class="mw-page-title-main">National Register of Historic Places listings in North Philadelphia</span>

The following properties are listed on the National Register of Historic Places in North Philadelphia.

The history of cooperatives in the United States extends to pre-independence times. With the exception of credit unions and mutual banking institutions, most cooperatives have held a light footprint on the economic history of the United States, compared to the economies of Europe.

<span class="mw-page-title-main">Hill's Tavern</span> United States historic place

Hill's Tavern is a historic building in Scenery Hill, Pennsylvania. It was heavily damaged by a fire that started shortly before midnight on August 17, 2015. For a period in the early 1900s, the inn was known as Central Hotel. Now called the Century Inn, it has been claimed to have been the oldest tavern in continuous use on the National Road, until the fire brought an end to its 221 years of continuous operation.

<span class="mw-page-title-main">Chester Waterside Station of the Philadelphia Electric Company</span> United States historic place

Chester Waterside Station of the Philadelphia Electric Company is a historic former coal-fired power station, located on the Delaware River in Chester, Delaware County, southeastern Pennsylvania.

<span class="mw-page-title-main">New York Mutual Life Insurance Company Building</span> United States historic place

The New York Mutual Life Insurance Company Building, also known as the Victory Building, is an historic, American office building that is located in the Market East neighborhood of Philadelphia, Pennsylvania.

<span class="mw-page-title-main">Franklin Hose Company No. 28</span> United States historic place

Franklin Hose Company No. 28, also known as Harmony Engine Company No. 6, is a historic fire station located in the Southwest Center City neighborhood of Philadelphia, Pennsylvania. It was originally built about 1849, and considerably altered with a new front in 1868–1869. It is a four-story, three-bay-wide building measuring 34 by 60 feet. It is constructed of brick, with an ashlar granite-faced first story and a mansard roof. It features round arched window openings and a heavy wood cornice. In February 2010, the building was undergoing renovation.

<span class="mw-page-title-main">Vector Security</span> Fourth largest electronic security company in the United States

Vector Security, Inc. is an electronic security company in the United States. The company offers security solutions for both homes and businesses in the United States and Canada. Their corporate office is located in Warrendale, Pennsylvania.

References

Notes

  1. 1 2 3 4 Gallery, John Andrew, ed. (2004), Philadelphia Architecture: A Guide to the City (2nd ed.), Philadelphia: Foundation for Architecture, ISBN   0962290815 , p.50
  2. "National Register Information System". National Register of Historic Places . National Park Service. January 23, 2007.
  3. 1 2 "Philadelphia Contributionship". National Historic Landmark summary listing. National Park Service. Archived from the original on June 6, 2011. Retrieved February 17, 2008.
  4. "PHMC Historical Markers". Historical Marker Database. Pennsylvania Historical & Museum Commission. Archived from the original on December 7, 2013. Retrieved December 10, 2013.
  5. "Key events in the history of Contributionship". The Contributionship Companies. Archived from the original on February 5, 2011. Retrieved October 18, 2008.
  6. 1 2 3 George R. Adams (May 1977). "National Register of Historic Places Inventory-Nomination: Philadelphia Contributionship" (pdf). National Park Service.{{cite journal}}: Cite journal requires |journal= (help) and Accompanying 9 photos, exterior and interior, from 1972 and 1977  (32 KB)
  7. The Pennsylvania Gazette, February 18, 1752, p2
  8. The Pennsylvania Gazette, March 17, 1752, p2
  9. The Philadelphia Contributionship. (2023, August 8). https://1752.com/
  10. The Philadelphia Inquirer - Top Workplaces 2023. The Philadelphia Inquirer. (2023a, August 29). https://sponsored.inquirer.com/philadelphia-inquirer-top-workplaces-2023-hub/