The Birth of Insurance

The Birth of Insurance: Oldest U.S. Companies “In the mid-18th century, Benjamin Franklin and fellow firefighters founded what is said to be the first, lasting insurance company under the mutual principle “whereby every man might help another without any disservice to himself,” he said. There was another short-lived company in the U.S. (before it was the… Continue reading The Birth of Insurance

Best Practices in Fire Safety

A little bit of history… In 1666, the Great Fire of London was responsible for the destruction of over 13,000 homes and 87 churches. This massive blaze also caused the displacement of over 70,000 residents. Since the death of the poor was not well documented at this time, the fate of an unknown number of… Continue reading Best Practices in Fire Safety

7 Principals of Insurance

Principal of: Utmost Good Faith Principle of Uberrimae fidei (a Latin phrase), or in simple english words, the Principle of Utmost Good Faith, is a very basic and first primary principle of insurance. According to this principle, the insurance contract must be signed by both parties (i.e insurer and insured) in an absolute good faith… Continue reading 7 Principals of Insurance

Construction Classifications

1. Frame (Class 1) In Frame Construction, the building’s exterior walls, floor, and roof are made of wood (or various composition boards). Frame construction also includes buildings with a wood floor and roof but with exterior walls of non-combustible or slow-burning construction such as vinyl, metal cladding or masonry veneer (that is, layers of brick,… Continue reading Construction Classifications