It is widely accepted that Benjamin Franklin helped form the first mutual insurance company in 1752. The company – the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire – was developed to help make contributions toward fire prevention. The Philadelphia Contributionship is still in business today and is the nation’s oldest insurance carrier in operation. Franklin’s influence on the establishment of fire insurance cannot be overlooked. His efforts to establish the practice of mutual insurance started the growth of other insurers across the land.

The late 1860’s post-Civil War era marked a period of exponential growth for Michigan’s “Copper Country.” The copper boom in the Keweenaw Peninsula led many skilled workers and families to settle in Upper Michigan. As towns and communities developed, so did the need for a wide range of businesses. Spurred by demand for fire protection, Great Lakes Mutual Insurance Company opened its doors in 1898 as a “fire mutual” in Calumet. Just like Benjamin Franklin nearly 150 years prior, the sole purpose of Great Lakes Mutual was to help protect its Policyholders and provide property coverage against fire.