Magna Carta Companies was founded in New York City in 1925 as a mutual insurance carrier for the taxicab industry. Throughout the decades, we have continuously expanded our product offering and underwriting territory. Today, Magna Carta specializes in underwriting the commercial real estate industry and we are one of the largest mutual carriers of commercial business in America. Magna Carta began as Public Service Mutual Casualty Insurance Corporation and the name was later shortened to PSM Insurance Companies. When we celebrated our 75-year anniversary in 2000, our group adopted the trade name of Magna Carta Companies. The group now consists of Public Service Mutual Insurance Company, Paramount Insurance Company and Western Select Insurance Company.