Insurance Coverage in Western Wisconsin



Benjamin Franklin started the American mutual property/casualty industry when he created the Philadelphia Contributionship for the Insurance of Houses From Loss by Fire in 1752.

One hundred and twenty years later in 1872, Stockholm Town Mutual was organized by a group of farmers to provide insurance coverage for themselves and their neighbors. There were no national insurance companies covering farmers in the 1870s. At that time only people living in cities could buy insurance. Therefore, individual farmers organized mutual insurance companies, such as Stockholm Town Mutual, which functioned as cooperative enterprises. Today, many insurance companies are either privately or publicly owned corporations driven to make profits to pay shareholders. Holding on to its roots, however, Stockholm Town Mutual still functions as a policyholder-owned company, similar to a cooperative: if you’re a policyholder, you have a voice in this company.

Stockholm Town Mutual is operated with very little overhead. Purchased in 1932, the building that it uses as its only office, located in Stockholm, Wisconsin, was a bank that went bankrupt during the financial collapse of the Great Depression.