Not only is business insurance smart to have, but it is legally required for nearly all Ohio businesses. From protecting workers, owners, product, and more, business insurance is a necessary safety net that no business can go without.
For as long as we can remember business insurance has been around. But you may be wondering, where does business insurance actually come from?
In order to fully appreciate business insurance, we must look back on the history of business insurance in the USA.
Business insurance has been around since the early days of society. Found in the form of Bottomry contracts, or loans, merchants would receive loans under the provision that if shipments were lost at sea, the loan would not have to be repaid.
Skip forward to 1752 and founding father Benjamin Franklin created the USA’s very first insurance company called “The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire”.
As technology developed so did insurance coverage, starting with the invention of the car and auto insurance, and the American workplace, which led to inventions such as general liability coverage, workers compensation insurance, property insurance, and more.
Today insurance companies continue to rise to the challenge of keeping up with an ever-growing and evolving world to bring the most comprehensive and advanced insurance solutions to businesses across the globe.
At Beck Insurance Agency, we are proud to serve businesses in our community with comprehensive business insurance in Sylvania, OH, Defiance, OH, Toledo, Bryan, OH, Wauseon, OH, Perrysburg, and the surrounding areas. Providing a range of insurance solutions dating back to 1948, we have over 70 years of experience providing our community with the quality insurance solutions required to live life and operate business worry-free.
By partnering with dozens of the nation’s top insurance carriers, we present you with a wide range of insurance coverage options for your company. Not captive to a single agency, we are free to help you get the best deal on the best business insurance policy. Contact us today to learn more about business insurance in Sylvania, OH, Defiance, OH, Toledo, Bryan, OH, Wauseon, OH, Perrysburg, and the surrounding areas.
