Goodville Mutual Casualty Company (New Holland, Pennsylvania, USA)
Goodville Mutual Casualty Company, which began as a mutual automobile insurance agency, was incorporated 4 January 1926, with head office at Goodville, Lancaster County, Pennsylvania. It was in effect a Mennonite organization, all its officers and 12 of its 15 directors being Mennonites and 85 per cent of the 18,000 policyholders in the mid-20th century being Mennonites. It also served related groups, in addition to cases assigned to it by the State of Pennsylvania. It's original area of service was Pennsylvania and Virginia. It was closely related to Mennonite Mutual Aid, Inc., of Goshen, Indiana. It paid approximately $200,000 of losses in 1954.
The company's motto in 1954 was "Insurance at Cost." It returned the unused portion of premiums to the policyholder at the end of the policy year. This was determined by taking the losses, expenses, and reserves off the premiums collected. The percentage of dividend was then determined. The average dividend in 1954 was 35 per cent.
Over time Goodville Mutual enjoyed growth and stability and beginning in 1952 expanded to include coverage for homes, small businesses, farms and churches in nine states. Goodville Mutual in 2007 had annual revenues exceeding $60 million with assets exceeding $91 million. A new office building in New Holland, Pennsylvania was constructed in 1973. In the late 1980s and 1990s Goodville merged with four other mutual companies to provide expanded coverage.
Bibliography
Goodville Mutual Casualty Company. "History of the Company." Accessed 6 April 2008. <http://www.goodville.com/aboutus/history.cfm>
Additional Information
Address:
625 West Main Street
New Holland, Pennsylvania 17557
Phone:
717-354-4921
Website:
Goodville Mutual Casualty Company
| Author(s) | Harold S Bender |
|---|---|
| Sam Steiner | |
| Date Published | 2008 |
Cite This Article
MLA style
Bender, Harold S and Sam Steiner. "Goodville Mutual Casualty Company (New Holland, Pennsylvania, USA)." Global Anabaptist Mennonite Encyclopedia Online. 2008. Web. 22 Nov 2024. https://gameo.org/index.php?title=Goodville_Mutual_Casualty_Company_(New_Holland,_Pennsylvania,_USA)&oldid=64472.
APA style
Bender, Harold S and Sam Steiner. (2008). Goodville Mutual Casualty Company (New Holland, Pennsylvania, USA). Global Anabaptist Mennonite Encyclopedia Online. Retrieved 22 November 2024, from https://gameo.org/index.php?title=Goodville_Mutual_Casualty_Company_(New_Holland,_Pennsylvania,_USA)&oldid=64472.
Adapted by permission of Herald Press, Harrisonburg, Virginia, from Mennonite Encyclopedia, Vol. 2, p. 542. All rights reserved.
©1996-2024 by the Global Anabaptist Mennonite Encyclopedia Online. All rights reserved.