The Green Tree Perpetual Assurance Company (TOP)
The Green Tree Perpetual Assurance Company traces its roots back to the Mutual Assurance Company (MACo) which was founded in 1784 by a group of dissident policyholders that refused to submit to a ban against front yard trees. The ban was imposed as an underwriting requirement by the insurance company founded by Benjamin Franklin in 1752.MACo developed a fire mark (an emblem or shield placed on the front of a house indicating the insuring company) consisting of a lead tree painted green affixed to a white wooded shield. As a result of this fire mark, MACo over the years became known by its nickname, The Green Tree.
The Company currently is licensed only in the Commonwealth of Pennsylvania, but over time will expand to New Jersey, Delaware, Maryland, Ohio and Virginia. The Company writes only perpetual products. Perpetual homeowners insurance functions as a typical homeowners policy but is purchased through a single up-front, fully refundable perpetual deposit usually amounting to ten or more times an annual conventional (term) homeowners premium. Other perpetual products include personal umbrella, inland marine (scheduled personal property) and dwelling fire coverages. (TOP)