The first American chartered fire insurance company, the Philadelphia Contributionship, is formally incorporated by Benjamin Franklin and other members of Philadelphia's firefighting community.
It had been founded earlier in 1752 to provide security in a rapidly growing city, as fire risks were high, particularly in crowded areas. It operated as a mutual company, it was established to protect citizens from fire hazards by offering 7-year policies and, famously, marking insured homes with a "Hand in Hand" emblem. It is the longest-tenured insurance company in the United States. It is now part of a corporate structure under The Philadelphia Contributionship Mutual Holding Company.
