The concept of insurance has been around since 3000 BCE in one form or another. In those days they took the form of a loan against a shipment. If the shipment suffered damage or loss before it arrived to the final point, the outstanding loan balance was adjusted or did not have to be repaid at all. In Ancient Rome, there were burial societies that required monthly dues and in turn would pay for burial costs. The concept of an “insurance contract” was developed during Ancient Greece.

Fast forward to The Great Fire of London in 1666, and from the burnt rubble arose the concept of Fire Insurance. By 1711, London had the pre-curser to what we know today as insurance companies. The first American Insurance company was founded in 1752 by no other than Benjamin Franklin. Our country suffered significant events that tested the strength, resolve and concept of insurance companies such as; the Civil War 1860-1864, Chicago Fire in 1871 and the San Francisco Earthquake and Fire in 1906. These events had devasting consequences on insurance companies, policy-holders and shareholders. From 1910-1990 after many changes and improvements to laws and regulations, the annual growth of insurance in-force rose 8.4% annually amounting to over 600-fold increase during that 80-year period.

Knowing the history of insurance and working with the top-rated insurance companies, allow our advisors to stand at the ready to help our clients to navigate their insurance issues from the most complex to the simplest of needs. Additionally, our advisors help clients in reviewing, evaluating or replacing their insurance policies and contracts.