Peninsula Insurance

Tribute to the life of Mr. Sam Seidel

A Memorial Tribute to the life of Mr. Sam Seidel, founder of The Peninsula Insurance Companies

Samuel W. Seidel, founder, former president, chief executive officer and chairman of The Peninsula Insurance Companies, died at his home July 18, 2001, after a 22-month bout with cancer. Mr. Seidel was 78 years of age.

Mr. Seidel was a philanthropic community leader, former city councilman, businessman and devoted family man. Mr. Seidel’s death leaves a gap in the community and he will be missed sorely by the employees of this company. The accomplishments made by Mr. Seidel for the community are so many that all cannot be listed. An editorial in The Daily Times says of Mr. Seidel, “It’s not unusual for people to serve in government, build a business from scratch or donate money to a cause. But to do all three, and do them with the energy and passion of Sam Seidel, is incredibly rare.”

Mr. Seidel was a Salisbury native. After serving in the Pacific Theater aboard the U.S.S. Leon in World War II, achieving the rank of Lieutenant Senior Grade and being awarded five battle stars, he returned to Salisbury to teach and coach basketball. In 1952, he founded the Sam Seidel Agency, a property casualty insurance agency. In 1960, he founded The Peninsula Insurance Company, a mutual insurance company. The company was converted to a stock insurance carrier in 1972, and in 1990, Peninsula Indemnity Company was formed. Through the insurance business, he was able to not only serve his customers, but also derive the financial means to support the community through nonprofit groups and athletics.

Mr. Seidel was known for his compassion for the community and speaking out against racism. One of his passions was athletics, especially basketball. As a high school coach in the 1950’s, he led a team to the state championship finals twice. His love for the sport continued with his support of local youth leagues in the community. He was often seen coaching, refereeing and umpiring young boys and girls basketball and baseball in his spare time.

That compassion for people carried through to his employees. Always based in Salisbury, Maryland and being the only property casualty insurance company located on the Delmarva Peninsula, the company began modestly, with most employees new to the insurance industry. As a testament to his inspiration, two of Mr. Seidel’s original employees still work at the Peninsula Insurance Companies and have done so continually for more than 40 years! That longevity continues with a number of employees being employed for more than 20 years. In fact, 29 of the current workforce of 70 employees have worked for the company for ten years or more. Mr. Seidel is remembered by his workforce as a very caring person who not only took the time to get to know the employee, but also the family of the employee. He would stop and ask how you were and ask about your family as well.

Very early in the company, he formed a profit sharing plan for the workforce. This enabled the workforce to share in the profits of the company for retirement.

When formed, The Peninsula Insurance Company wrote primarily physical damage coverage on automobiles and property coverage. One of the first policies written was physical damage coverage on a fleet of taxicabs in Salisbury. The company then expanded to writing automobile insurance and even for a short time, aircraft insurance.

The Peninsula Insurance Company writes most lines of personal and commercial coverage in Maryland, Delaware and Virginia. Limited coverage is also written in West Virginia and Tennessee. Some employees remember Mr. Seidel personally going out to look for the first few agencies. As a measure of the growth and success of the company, it is currently represented by more than 250 agencies.

Most recently, Mr. Seidel had bestowed upon him an Honorary Doctorate of Humane Letters from Salisbury University. This degree was fitting, for he and his wife set up a one million dollar endowment for the Samuel W. and Marilyn C. Seidel School of Education and Professional Studies at Salisbury University, one of only two endowed public university schools of education in the nation. The text of the citation can be found on the university web site.

Hundreds attended a memorial service for Mr. Seidel at Holloway Hall on the campus of Salisbury University on July 22, 2001. Of those in attendance were former shipmates in the Navy, community and business leaders, and Senator Sarbanes, D-MD, who was coached in basektball by Mr. Seidel in high school. Senator Sarbanes said of Mr. Seidel, “He went from being my coach to being one of my closest friends. He had a powerful constructive influence on my life and the community.”

The following quotes were excerpts from The Daily Times July 20, 2001 story by Angie Basiouny and The Daily Times editorial of the same day:
     “Seidel leaves a legacy of personal and professional excellence. He built his company from a small local business to the largest private insurance company in the state, served twenty years as an outspoken elected official who fought racism and segregation, donated millions of dollars to charity and civic groups, mentored children through sports and education, and nurtured his 47-year marriage to wife, Marilyn.”

“His employment practices were very progressive in terms of opening up opportunities for people, particularly minorities. He is one of a small number of people I give credit to making Salisbury become a more open and tolerant community.” - Senator Sarbanes, D-MD

“I served with Sam for 20 years and never met a man more conscientious and forthright and committed to his beliefs. He was very compassionate and strong in his convictions, and he worked hard at making sure people got a fair deal.” - Former Salisbury Mayor, Paul Martin