The Bounty sailing near Tahiti while filming "Mutiny on the Bounty," 1960.
No copyright indicated.
Reference 3-1-0-4-18, 0227.
 | |
Firemen's Fund designed a workmen's compensation program for the construction of BART (Bay Area Rapid Transit), 1960s.
No copyright indicated.
Reference 6-1-0-2-5, 1114.
 |
|
- 1960
- Premiums written: $260,596,000.
- Fireman's Fund introduces the Economy Plus Homeowners Program to complement the Economy Plus Automobile Insurance Plan.
- The Accident and Health Insurance Department is designated a separate major line of business.
- Hurricane Donna results in property losses of $100,000,000.
- Automobile insurance continues to pose serious problems for the industry due to inadequate rates and the carelessness of drivers.
- Fireman's Fund issues a special hull policy on the H.M.S. Bounty for the ship's voyage to Tahiti where it is featured in the filming of "Mutiny on the Bounty" by Metro-Goldwyn Mayer.
- Fireman's Fund insures for the first time an overseas shipment of nuclear elements from San Jose, California to Kahl, Germany.
- Fireman's Fund continues leadership in Inland Marine insurance. Unusual types of policies include Motion Picture Cast Insurance indemnifying studios and producers for financial losses sustained by the injury or illness of specified actors or actresses and Dam insurance, which provides protection against physical loss or loss of income due to absence of rain.
- In casualty lines the excess and special risks facilities are expanded to cover unusual risks, those requiring high limits of liability.
- Authorized shares in the company are increased from 4,000,000 to 6,000,000.
- The Eastern Department celebrates it 75th anniversary.
- 1961
- Premiums written: $277,861,000.
- Fireman's Fund purchases the Shaw & Begg Group.
- Hurricane Carla causes severe damage in Texas and the Gulf of Mexico.
- Spectacular fires do significant damage in the Bel Air and Beverly Glen areas. Fireman's Fund insures 33 of the 456 homes destroyed.
- Fireman's Fund introduces new policies: an All Risks Builders Risk, which insures properties under construction; a Medical Profession Floater and a School and Public Property Floater; and a Libel and Slander policy providing protection to the entertainment and communications industries.
- The Foreign Credit Insurance Association (Fireman's Fund is a founding member) provides comprehensive commercial and political credit insurance to exporters.
- Fireman's Fund introduces a major product innovation, a Merchants Policy for special risks on hotels, apartment and office buildings.
- James F. Crafts is elected chairman of the board of AFIA (American Foreign Insurance Association).
- Fireman's Fund emerges as the country's leading inland marine underwriter.
- 1962
- Fireman's Fund celebrates its centennial year.
- July 10: Telstar, the communications satellite, is placed into orbit. Fireman's Fund insures the satellite up to the time of its launch.
- The Space Needle and Seattle World's Fair is insured by Fireman's Fund during construction.
- Fireman's Fund oversees the ocean marine claim and the innovative salvage effort of the SS Chickasaw, which is grounded. The vessel is lost, but its cargo is saved.
- A Fireman's Fund ocean marine policy provides coverage of a traveling art exhibition of Chinese treasures.
- Shaw and Begg take over all of the Canadian business of Home Fire and Marine and Fireman's Fund.
- 1963
- Fireman's Fund and The American Insurance Company are affiliated after an exchange of stock. Life insurance products are offered through American Interstate Life.
- Fireman's Fund develops a special contract to cover water deficiency in dams, which is instrumental in furthering the development of power, irrigation and flood control in California.
- Fireman's Fund introduces a policy called "Supercover" designed for commercial risks, providing all-inclusive catastrophe liability protection.
- The Disability Department is organized as an independent unit.
- Fireman's Fund publishes "Still Flying and Nailed to the Mast" written by William Bronson.
- Fireman's Fund introduces a new company emblem combining the identities of FFIC and the American Insurance Company
- Fireman's Fund staff increase to more than 10,000.
- 1964
- March 27: An earthquake causes major damage in Alaska.
- Fireman's Fund experiences advances in rate-making. Rate adjustments made in the industry take into account the inflationary nature of the economy.
- The National Insurance Actuarial and Statistical Association is formed to collect more refined statistics.
- Its affiliation with the American Insurance Company makes Fireman's Fund the largest writer of crop and hail insurance.
- Fireman's Fund packages Commercial Multiple Peril insurance, a combination of fire, casualty, liability, bond, burglary, and inland marine coverage that can be adapted to any form of business, commercial, or institutional ventures.
- Fireman's Fund experiences an ocean marine challenge. The company serves as lead company in the underwriting of the policy covering the Pieta on its journey from St. Petersburg to the Vatican Pavilion in the New York World's Fair.
- Fireman's Fund publishes the "Closer to the Source" series of branch histories.
- Fireman's Fund launches a nationwide consumer advertising program.
- 1965
- Hurricane Betsy hits Louisiana, Florida and Mississippi. It is the greatest disaster in Fireman's Fund history, outstripping claims from the San Francisco earthquake and fire of 1906. Total damage is estimated at $700,000,000.
- Fireman's Fund acquires North American Investment Corporation.
- The release of award winning motion picture Bay of Gold demonstrates Fireman's Fund's interest in the history of the country's natural resources and in conservation.
- A worker's compensation program is provided for BART by Fireman's Fund in an unprecedented seven-year policy. According to BART officials, "Fireman's Fund was chosenŠ because of their ideal location, engineering services, claims handling and the financial strength necessary to undertake a project of this scope."
- The company offers a master hole-in-one policy for golfers. Fireman's Fund picks up the clubhouse tab after a hole-in-one.
- 1966
- The Fund American Companies holding company becomes the parent corporation of the operating firms of Fireman's Fund and its subsidiaries.
- The Fund/65 Plan is phased out.
- Fireman's Fund offers a Credit Account Plan (CAP) for paying for insurance in installments.
- A large campaign is launched to raise recognition of Fireman's Fund and its agents in the minds of the insurance buying public. "Fireman's Fund covers everything" is developed as the overall theme, which is directed to the individual insurance buyer and the large premium industrial account.
- 1967
- Fireman's Fund purchases one quarter of the Crusader Insurance Co. Ltd., an English company with life insurance, trust and pension operations.
- Fireman's Fund forms the Firefund Service Corporation for real estate and property management.
- Fireman's Fund invests $10 million to form SSI Computer Corporation, a new subsidiary for data processing services.
- Fireman's Fund continues to support the holding company concept allowing Fund American to plan its future and become involved in new ventures.
- Fund American Companies includes seven property and casualty companies and ranks 6th in the country.
- 1968
- Fireman's Fund becomes affiliated with American Express and is called Fireman's Fund American Insurance Company.
- Fireman's Fund introduces Commercial Credit Insurance, which is designed to protect wholesalers, manufacturers and other service operations against non-payment of their accounts receivable.
- Fireman's Fund launches FASTIST, a FAST Imaginative Settlement Technique designed to settle claims quickly.
- Fireman's Fund American Life Insurance Company reaches the billion dollar mark in life insurance in force.
- 1969
- Open Competition rate regulation allows Fireman's Fund to price products with relative freedom in states that generate more than half of the premium volume.
|