PREFERRED MUTUAL FIRE INSURANCE

The Preferred Mutual Fire Insurance Company of Chenango County (as it was first known) was founded in 1896 in New Berlin, New York, by Frank E. Holmes. Holmes modeled the company after the first insurance company in the United States, “The Philadelphia Contributionship for Insurance of Houses from Loss by Fire,” founded by Ben Franklin in 1752.

As a mutual fire insurance company owned entirely by its policyholders, the company offered broader coverage at a considerably lower cost than was charged by stock insurance companies of the time, which operated for the profit of stockholders. With only a skeleton management team of just three employees, Holmes introduced a new operational format by selling policies through a network of agencies.

This Preferred Mutual plaque/mark is of heavy (almost 2.5 lbs.) pewter construction and was cast by Pewtarex. The plaque has the company name and the date 1896 on the front, along with an eagle in flight.  It measures approximately 12.5" x 9.0" and has a hanging mechanism cast into the back side.

This is a nice vintage plaque/marker which is in good shape. The Preferred Mutual plaque is one that is not regularly seen for sale. It would make an excellent addition to a collection of fire marks, insurance memorabilia, or a great gift for an agent/broker/employee.