The History of Insurance
Gilbert J. Loomis holds the distinction of being the first person to buy this type of insurance policy in 1897. The policy, which was issued in Dayton, Ohio, protected Loomis if his car damaged property or injured or killed an individual.
What is Automotive Liability (or car insurance)?
Protection against financial loss.
What is Insurance?
The policyholder/the person(s) protected in case of a loss or claim.
Who is the Insured?
This coffeehouse chain spends more on their employees’ health benefits than their coffee.
What is Starbucks?
Who is Ricky Spiro?
In 1752, this famous inventor and founding father of the US and his fellow firefighters founded The Philadelphia Contributionship, the nation’s oldest successful property insurance company.
Who is Benjamin Franklin?
Homeowners, Renters, Auto, Trailers, RVS, and Motorhomes fall under this line of coverage.
What is Personal Lines?
A licensed person or organization paid by you to look for insurance on your behalf.
What is an Insurance Broker?
Insurance companies do not provide coverage for this martial arts actor's films. As a result, he personally trains his stuntmen and covers their medical expenses out of his own pocket.
Who is Jackie Chan?
One of Hilb Group's values.
What is Trust, Collaboration, Integrity, Passion, or Growth?
The world's leading insurance market (based in London) was founded in a coffee house by sea captains protecting their ships in 1688.
What is Lloyd's of London?
Insurance that covers losses caused by perils such as fire, windstorm, and theft. It also covers the possibility of being held legally liable to pay damages to another person.
What is Property & Casualty Insurance?
The amount of money an insurance company charges for insurance coverage.
What is a Premium?
In 2003, this soft drink company organized a sweepstakes with a staggering $1 billion prize. Simultaneously, the company secured a $10 million insurance policy to cover the possibility of someone winning.
What is Pepsi?
Hilb Group is home to approximately ______ associates.
What are 2,600 Associates?
In 1945, the McCarran-Ferguson Act was passed by congress and dictated that the ______ regulate insurance.
What are States?
This principle of insurance ensures that a policyholder will receive compensation equal to their actual loss, no more, and no less.
What is the Principle of Indemnity?
The set amount that a policyholder must pay per loss on an insurance policy.
What is a Deductible?
This famous singer insured her tongue for $1 million following her 2013 VMA performance.
Who is Miley Cyrus?
Hilb Group's learning portal, complete with everything you need to develop your skills and advance your career - a central place for learning, development, and growth for all associates.
What is Hilb University?
This Babylonian law code dated from around 1750 BC consists of 282 laws dealing with all aspect of public life, citizen’s rights and obligations, and the Babylonian kingdom’s justice system, including a marine insurance-like arrangement.
What is the Code of Hammurabi?
Typically, an insured or broker must be rejected _____ times by an admitted insurance carrier before seeking surplus lines coverage.
What is 3-5 times?
An arrangement by which an insurance company transfers all or a portion of its risks under a contract of insurance to another company.
What is Reinsurance?
This type of insurance is now becoming available for spacecraft and launch vehicles from ignition through spacecraft separation in orbit.
What is Launch Coverage?
Hilb Group was founded in this year: ______.
What is 2009?