Today is Insurance Nerd Day!
This day was created to not only celebrate those that work in the insurance industry but also to encourage others to join our industry! While many people have the misconception that the insurance industry is boring, the industry is always changing with the times. Take for example the rise in technology which has now brought a new interest in cyber insurance! Insurance, in one form or another, has been around for millenniums, so if you're looking for a stable industry than look no further!
We picked out a few insurance moments in history that might interest you:
1. The first car insurance policy in the US was sold in 1897 by Travelers Insurance Company, the policy covered $1,000 in liability for only $7.50!
2. Speaking of Travelers Insurance Company, in 1969 they issued the first space flight & lunar exploration policy, this policy was purchased for the Apollo II crew!
3. Benjamin Franklin created the Philadelphia Contributionship in 1751, they were the first company to provide fire insurance for homes in the colonies. Franklin also helped get the first life insurance company in the US, the Presbyterian Ministers' Fund, up & running.
4. The first documented form of insurance was from around 1750 BC by Babylonian & Chinese traders. Merchants receiving loans had the option to pay extra money to ensure that their loan would be cancelled if their shipments were stolen.
5. In 1710 the Sun Fire Office, now known as Royal & SunAlliance, was formed to insurance against fire risks in England. This is the oldest insurance company in existence that still conducts business to this day.
6. The largest insurance loss worldwide resulting from natural disaster was caused by Hurricane Katrina & caused $82.39 billion dollars worth of claims.
7. The most valuable life insurance policy ever sold is valued at just over $200 million to a tech billionaire from Silicon Valley.
History, facts, even insurance, all things nerds love!
This day was created to not only celebrate those that work in the insurance industry but also to encourage others to join our industry! While many people have the misconception that the insurance industry is boring, the industry is always changing with the times. Take for example the rise in technology which has now brought a new interest in cyber insurance! Insurance, in one form or another, has been around for millenniums, so if you're looking for a stable industry than look no further!
We picked out a few insurance moments in history that might interest you:
1. The first car insurance policy in the US was sold in 1897 by Travelers Insurance Company, the policy covered $1,000 in liability for only $7.50!
2. Speaking of Travelers Insurance Company, in 1969 they issued the first space flight & lunar exploration policy, this policy was purchased for the Apollo II crew!
3. Benjamin Franklin created the Philadelphia Contributionship in 1751, they were the first company to provide fire insurance for homes in the colonies. Franklin also helped get the first life insurance company in the US, the Presbyterian Ministers' Fund, up & running.
4. The first documented form of insurance was from around 1750 BC by Babylonian & Chinese traders. Merchants receiving loans had the option to pay extra money to ensure that their loan would be cancelled if their shipments were stolen.
5. In 1710 the Sun Fire Office, now known as Royal & SunAlliance, was formed to insurance against fire risks in England. This is the oldest insurance company in existence that still conducts business to this day.
6. The largest insurance loss worldwide resulting from natural disaster was caused by Hurricane Katrina & caused $82.39 billion dollars worth of claims.
7. The most valuable life insurance policy ever sold is valued at just over $200 million to a tech billionaire from Silicon Valley.
History, facts, even insurance, all things nerds love!
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