The History of C.L. Frates and Company

C.L. Frates and Company was founded in 1924 by Clifford L. Frates, a successful insurance executive with ties to the Tulsa and Oklahoma City business markets. The company has grown to become one of the oldest and largest privately owned insurance companies in the United States, managing assets in excess of $200,000,000. 

Clifford L. Frates

C.L. Frates and Company got its start as an insurance agency insuring the energy business and managing insurance programs for many of the early oil field wildcatters.  Its experience in the oil patch made the company an international insurer.

With changing times, the need for innovative approaches to the insurance business became apparent. In the 1960s, as self insurance became more popular for both employee benefits programs and worker's compensation, C.L. Frates and Company expanded insurance into third-party administration and claims servicing operations.

Clifford Frates retired in 1964 to breed and raise Tennessee Walking horses. He continued to serve as a corporate advisor until his death in 1993.  Upon his father's retirement, Rodman Frates became President and Chief Executive Officer of C.L. Frates and Company.

The Captive Insurance Company Division of Frates was formed in 1977 to provide assistance to corporations desiring to retain risk. This Division of C.L. Frates and Company has expanded into a major operation employing the services of adjusters, attorneys, loss control experts, accountants, actuaries, underwriters and information technology professionals.  

C.L. Frates' people have played a primary role in the development of insurance for some of the pioneering companies in the space industry and in the development of coverage for space-related technologies.

The company operates from its corporate offices in Oklahoma City, with other offices located in Connecticut, Maryland, Iowa, Mississippi and Texas.