Multimedia Professional
Dec 16

Making History | 221 Years of Insuring Lives

221 years of insuring lives
Exactly 221 years ago this month — on Monday, December 15, 1794, to be exact — something extraordinary happened in our industry. The first life insurance policy was issued by a general insurance company! And the policy covered a weather-beaten sea captain!

The Insurance Company of North America was founded in Philadelphia just two years earlier. It got its start in Philadelphia’s Independence Hall. Yes, that’s the same building that holds the famous cracked Liberty Bell.

 

Pioneering brokers and agents
The company’s life-insurance venture was brief with only six policies written over five years. And even though they abandoned their life-insurance services altogether in 1804, those pioneering brokers and agents helped jump start what is today a half-trillion-dollar industry.

With 14 nationwide offices, Asurea is a relative newcomer in comparison to the 200-year-old company. But we’ve still been on the life insurance scene for nearly 25 years! And we’re proud to be continuing the important work of our forefathers. For us, it’s all about insuring lives and ensuring peace of mind. Many of the families we protect hold some of the nearly 275 million life insurance policies currently in force in the U.S.

 

Risky even for guys named Hazard
Two years before that sea captain’s life was insured, entrepreneurs John Nesbitt and Ebenezer Hazard met in Philadelphia’s Independence Hall. They set to work to establish the Insurance Company of North America. And now, more than two centuries later, the company is still kicking. It continues on as a subsidiary of the multinational ACE insurance group.

The company’s first-ever policy covered a ship and its cargo. It’s no wonder it earned a reputation as a company of imagination and creativity. And as all insurance companies must, the Insurance Company of North America was willing to accept risk and pay claims. That also probably has a lot to do with why the company is still around a couple of centuries later.

 

Making history throughout history
Throughout history, the company continued making its mark. When the great Chicago fire reduced the city to ashes in 1871, the company paid its claims in full. They were also there to help San Francisco get back on its feet when five square miles of the city crumbled and burned in the 1906 earthquake and fire.

Today, our Asurea life insurance company is one of more than 9,000 life insurance establishments operating in the United States. And throughout history, we will continue to strive to be the Simple Solution to all of your life insurance needs!

About the Author:
Angela J. Bass is a multimedia journalist from Oakland, California.


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