View of Chicago one year after the devastating fire of 1871. Courtesy of the Library of Congress. No copyright indicated.
Reference 3-2-0-1-16, 0231.
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Commission of agent Thomas Chard, July 1, 1872. Chard established the Western Department in Chicago in 1872.No copyright indicated.
Reference 3-3-1-4-6, 0304.
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- 1871
- October 8 - 11: The Chicago fire destroys 17,500 buildings over 2,1,24 acres. FFIC pays full losses of $529,000 even though capitalization is only $500,000. Dutton convinces shareholders to have faith in the company and their confidence saves FFIC. The company pays each claimant 50 cents cash and issues IOUs for the balance.
- An accident involving the whaling boat Carlotta prompts FFIC to stop insuring boats exceeding certain latitudes.
- 1872
- The Eastern Department divides. Skeels, Bowers and Boughton keep New England and the middle states. Thomas Chard establishes the Western Department in Chicago.
- November 9: The Boston fire destroys fifty acres in the heart of the business district. FFIC pays $190,000 in losses.
- Charles R. Bishop of Honolulu agrees to represent FFIC in Hawaii.
- 1873
- As a result of the Boston Conflagration capital stock is reduced from $500,000 to $300,000 and the Board of Directors is reduced from 50 to 11 directors.
- FFIC opens business in Hawaii. The agency is managed by Bishop and Company.
- 1875
- The Virginia City fire destroys 2,000 structures in the densest part of town. FFIC pays $164,000 in losses.
- 1876
- FFIC invents and issues the first Standing Grain Policy. The company maintains dominance in the agricultural insurance market.
- March: Skeels, Bowers and Boughton dissolve, and the entire eastern and central business is handled by Thomas Chard.
- 1878
- FFIC issues the first company publication, Insurance Items, which becomes the Fireman's Fund Record in 1880.
- 1879
- Vice President Henry Dutton dies.
- FFIC is the only insurance company doing general business throughout the United States.
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