What is the Mutual Insurance Concept?

 

As an organization, PAMIC has valued and supported the Mutual Insurance Industry for over 100 years. The concept of mutuality dates back to 17th century England when communities come together to assist with losses caused by fires. 

Mutual Insurance was brought to America in 1752 when Benjamin Franklin founded the Philadelphia Contributionship for the Insurance of Houses From Loss by Fire in Philadelphia, PA. The company currently holds the distinction of being the oldest mutual insurance company in the country. 

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