On January 16, 1877, a small group of people held a meeting in a schoolhouse in the Town of Franklin and decided to organize Riverside Mutual Insurance Company. One of the founders of the Company was John H. Carpenter, the great grandfather of Carol Olson. In the many years Riverside Mutual Insurance Company has been in business there have been only eight Presidents and eight Secretaries. Carol Olson was Secretary for 36 years.

The By-Laws of the Company state the home office is to be in Spring Green, Wisconsin. Over the years the office was in several different locations in Spring Green. On January 16, 2021, Riverside Mutual Insurance Company celebrated its 143rd year in business.