About the Insurance Society

Transforming the insurance industry through the power of collaboration

Since 1901, the Insurance Society of Philadelphia (ISOP) has been the non-profit professional trade organization dedicated to the advancing the insurance industry, providing relevant career development and ensuring the success of insurance professionals working in the insurance, legal, healthcare and financial services industries in our communities.

ISOP represents 232 member companies and more than 25,000 insurance and risk management professionals in the greater Philadelphia area. Alongside our members, we provide resources and opportunities for collaboration, networking, talent development and giving back to our region, connecting a vibrant and diverse community of insurance professionals.

Connecting

ISOP's events, symposia and networking opportunities make it easy to stay informed about and share best practices; understand and prepare for the emerging risks; and sustain excellence within the insurance industry. ISOP is the professional society where members exchange ideas with fellow insurance and risk management professionals, attorneys and academics, and gain insight from key experts in a variety of fields.

Learn more on our membership page.

Talent Development

Through educational symposia, ISOP offers deep dives and focused perspectives on the critical issues facing the insurance industry and the world. Idea generation and talent development that members can implement immediately. Plus, ISOP members get access to thought leaders, industry veterans and convenient, professional development courses.

Find the access and course you need on our talent & development page .

Serving

ISOP serves the insurance industry and facilitates the industry serving the greater Philadelphia community. Since 2011, we have worked closely with the Commissioner of the Philadelphia Fire Department and the Citizens for Fire Prevention Committee, raising more than $230,000 and have helped install life-saving smoke detectors throughout the City. We partner with the Insurance Industry Charitable Foundation (IICF), where over 1,100 member volunteers donate time and talent during the annual IICF Week of Giving.

We also serve the needs of risk management and insurance students. Through our on-going partnerships with Drexel University, LaSalle University, University of Pennsylvania, St. Joseph's University, and Temple University, and the Gamma Iota Sigma international risk management and insurance fraternity, we provide tuition scholarships, internship assistance, mentoring and subsidies.

Insurance, Philadelphia and ISOP: a shared history and vision

We have been growing with the insurance industry and region for more than 115 years. Philadelphia has long played a pivotal role in the development and growth of the American insurance industry, from as far back as the 18th century.

In 1721 the first Marine Insurance Brokerage opened in Philadelphia, allowing merchants to insure locally. Throughout the 18th century, Philadelphia continued to play a large role in marine insurance, and in 1790, the first marine insurance company in the United States, the Insurance Company of North America, was founded here.

One of Philadelphia’s most famous sons, Benjamin Franklin, organized The Philadelphia Contributionship for the insurance of Houses from Loss by Fire in 1752. The standards the group used to evaluate buildings would later be turned into building codes and zoning laws.

In 1759 the Presbyterian Synods of Philadelphia and New York founded the Corporation for Relief of Poor and Distressed Widows and Children of Presbyterian Ministers. This led to the beginning of life insurance sales in the United States in the 1760’s. 

In the 1800s, Philadelphia’s more vulnerable residents began to form mutual aid societies as well. By 1838 there were 119 mutual aid societies. At least 56 mutual aid societies were also formed by German immigrants in the 1830’s and 40’s.

In 1901, the Fire Insurance Society of Philadelphia was founded. The organization grew to include a broader scope of the insurance trade when it was incorporated in 1909. In 1925, it was given a new name: the Insurance Society of Philadelphia.

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