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Philadelphia Contributionship for the Insurance of Houses from Loss by Fire records
The Philadelphia Contributionship, the oldest fire insurance company in the United States, was founded in 1752 and received a charter in 1768. From the beginning, the company inspected houses to be insured, reported faults in construction, and recommended changes to help protect against the risk of...
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| Corporate Author: | |
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| Collection: | Philadelphia Contributionship For the Insurance of Houses From Loss By Fire Records |
| Collection Number: | V41 |
| Format: | Manuscript |
| Language: | English |
| Subjects and Genres: | |
| Tags: | Add Tag |
| Physical Description: |
36.0 Linear feet 36 linear feet, 33 boxes, |
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| Summary: |
The Philadelphia Contributionship, the oldest fire insurance company in the United States, was founded in 1752 and received a charter in 1768. From the beginning, the company inspected houses to be insured, reported faults in construction, and recommended changes to help protect against the risk of fire. Initially the company was purely mutual, whereby each member's deposit money was carried in a separate account, which was credited with interest earned and charged with its share of the losses. In 1763 this practice was changed so that all interest was earned on, and losses paid out of, a common account and each member's liability was limited to the amount of his deposit money. In 1810 the system of seven-year renewable policies was replaced with perpetual policies that require no renewal.
The collection consists of insurance survey records on properties in Philadelphia and elsewhere in Pennsylvania, organized by location and including written reports, notes, diagrams of buildings (occasionally including blueprints), photographic prints, and negatives. Properties surveyed include houses, schools, churches, businesses, and non-profit institutions. Survey notes include policy numbers, names of owners, and information regarding a building's location, dimensions, construction, heating, lighting, waste disposal, and overall condition, as well as recommendations for safety improvements and whether or not to insure. There are also newspaper clippings, claims for losses by fire, and correspondence related to policies and claims. |