PC360 decided to take a look at the oldest insurers in theUnited States—a journey that has led to some interesting findingsabout the birth of insurance in this country.

In the mid-18th century, Benjamin Franklin and fellowfirefighters founded what is said to be the first, lastinginsurance company under the mutual principle “whereby everyman might help another without any disservice to himself,” hesaid.

There was another short-lived company in the U.S. (before it wasthe U.S., of course) prior to Franklin's start-up. TheFriendly Society for Mutual Insurance of Houses Against Fire wasfounded in Charles Towne (now Charleston), S.C. in 1736. It wasbankrupted by the Great Fire of 1740, which destroyed more than 300buildings.

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