A Lesson in History
Issue #25
September 24, 2007
I was in Philadelphia last week attending a conference and decided to take a little time to learn about the city’s history. I had read that the earliest documented underwriting agreement was issued in Philadelphia, and subsequent activities helped the city become the first insurance capital of North America, a position it held for more than a century.
The Philadelphia Contributionship
My first stop was the Philadelphia Contributionship. Founded in 1752 by Benjamin Franklin and several other visionaries, it is the oldest fire insurance company in America. The company still occupies the building that was constructed for their use in 1836, and is still going strong offering perpetual insurance for brick and stone buildings in Philadelphia and its surrounding area.
After a warm reception by Joseph Morris, President and Chief Executive Officer, I was introduced to Carol Smith, Historian, who led me on a tour of their office. There was antique furniture that was preserved from the early days, and huge paintings on the walls of the various Board Chairman from the past, but the most remarkable piece was in what looked like a vault in the corner of the building.
Carol proceeded to open drawer after drawer in the vault, each containing insurance documents, some printed and some handwritten, signed by the interested parties. The most remarkable document was the Articles of Agreement, or Deed of Settlement of The Philadelphia Contributionship, which hung in the courthouse prior to the formation of the Company. As I stepped up closer, there was the signature of Benjamin Franklin.
Fire had long been a serious concern of Franklin's, perhaps because of personal experience: he once advised a friend that, in case of fire, "You may be forced [as I was] to leap out of windows and hazard your neck to avoid being overroasted." In 1736, he helped to found Philadelphia's first fire brigade, the Union Fire Company.
The Fireman’s Hall Museum
That led me to my next stop, The Fireman’s Hall Museum. Here they had a collection of early firefighting equipment, including a four-wheeled wooden pump that was pulled by manpower to the scene of the fire, and then manually pumped while being filled by buckets of water. The spray nozzle on top could be rotated to direct water on the flames; however it appeared as though my garden hose at home could do a better job.
Under a large stained glass window on one end of the museum was a long display case with what appeared to be many small shiny plaques. A closer inspection revealed that each one had a name engraved on it. I then learned that these were the names of those who had died in the line of duty, and it was customary to cut the coupling off the fire hose that was used, flatten it out, and engrave the name by hand. That was kind of sobering.
Reflection
On the return flight from Philadelphia, I had time to think about my visit. With all of the change taking place in the insurance world, it was refreshing to see a stable company like the Philadelphia Contributionship with deep roots and a commitment to continue the tradition. And the Fireman’s Hall Museum reminded me of both how far we have come in firefighting techniques, as well as how much fire still presents a threat today.
Oh, the conference was good too.