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Insurance Company Of North America
Insurance Company of North America (INA) is the oldest stock insurance company in the United States, founded in Philadelphia in 1792. It was one of the largest American insurance companies of the 19th and 20th centuries before merging with Connecticut General Life to form CIGNA in 1982, and was acquired by global insurer ACE Limited (currently Chubb Limited) in 1999. 1792–1794 In 1792, Boston merchant Samuel Blodget moved to Philadelphia. He did so in part to seek a commission from President George Washington as superintendent of construction for the new federal city then being built along the Potomac River (an amateur architect, Blodget would later design the First Bank of the United States building in Philadelphia), but also to collaborate on a business venture with former U.S. Postmaster General Ebenezer Hazard, who owned a counting house in the city. Hazard had previously invested in an idea of Blodget's called the Boston Tontine, a sort of early annuity fund that also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is offered, owned, traded, exchanged privately, or over-the-counter. In the case of a closed corporation, there are a relatively small number of shareholders or company members. Related terms are closely-held corporation, unquoted company, and unlisted company. Though less visible than their publicly traded counterparts, private companies have major importance in the world's economy. In 2008, the 441 largest private companies in the United States accounted for ($1.8 trillion) in revenues and employed 6.2 million people, according to ''Forbes''. In 2005, using a substantially smaller pool size (22.7%) for comparison, the 339 companies on '' Forbes'' survey of closely held U.S. businesses sold a trillion dollars' worth of goods and service ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tontine
A tontine () is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries. Tontines enable subscribers to share the risk of living a long life by combining features of a group Annuity (financial contracts), annuity with a kind of mortality lottery. Each subscriber pays a sum into a trust and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the final member, the trust scheme is usually wound up. Tontines are still common in France. They can be issued by European insurers under the Directive 2002/83/EC of the European Parliament. The Pan-European Pension Regulation passed by the European Commission in 2019 also contains provisions that specifically permit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Incorporation (business)
Incorporation is the formation of a new corporation. The corporation may be a business, a nonprofit organization, sports club, or a local government of a new city or town. In the United States Specific incorporation requirements in the United States differ on a state by state basis. However, there are common pieces of information that states require to be included in the certificate of incorporation. *Business purpose *Corporation name *Registered agent *Inc. *Share par value *Number of authorized shares of stock *Directors *Preferred shares *Officers *Legal address A business purpose describes the incorporated tasks a company has to do or provide. The purpose can be general, indicating that the budding company has been formed to carry out "all lawful business" in the region. Alternatively, the purpose can be specific, furnishing a more detailed explanation of the products and/or services to be offered by their company. The chosen name should be followed with a corporate iden ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Charter
A charter is the grant of authority or rights, stating that the granter formally recognizes the prerogative of the recipient to exercise the rights specified. It is implicit that the granter retains superiority (or sovereignty), and that the recipient admits a limited (or inferior) status within the relationship, and it is within that sense that charters were historically granted, and it is that sense which is retained in modern usage of the term. The word entered the English language from the Old French ''charte'', via Latin ''charta'', and ultimately from Greek χάρτης (''khartes'', meaning "layer of papyrus"). It has come to be synonymous with a document that sets out a grant of rights or privileges. Other usages The term is used for a special case (or as an exception) of an institutional charter. A charter school, for example, is one that has different rules, regulations, and statutes from a state school. Charter can be used as a synonym for "hire" or "lease", as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pennsylvania General Assembly
The Pennsylvania General Assembly is the legislature of the U.S. commonwealth of Pennsylvania. The legislature convenes in the State Capitol building in Harrisburg. In colonial times (1682–1776), the legislature was known as the Pennsylvania Provincial Assembly and was unicameral. Since the Constitution of 1776, the legislature has been known as the General Assembly. The General Assembly became a bicameral legislature in 1791. Membership The General Assembly has 253 members, consisting of a Senate with 50 members and a House of Representatives with 203 members, making it the second-largest state legislature in the nation, behind New Hampshire, and the largest full-time legislature. Senators are elected for a term of four years. Representatives are elected for a term of two years. The Pennsylvania general elections are held on the Tuesday after the first Monday in November in even-numbered years. A vacant seat must be filled by special election, the date of which is set by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derry
Derry, officially Londonderry (), is the second-largest city in Northern Ireland and the fifth-largest city on the island of Ireland. The name ''Derry'' is an anglicisation of the Old Irish name (modern Irish: ) meaning 'oak grove'. The old walled city lies on the west bank of the River Foyle, which is spanned by two road bridges and one footbridge. The city now covers both banks (Cityside on the west and Waterside on the east). The population of the city was 83,652 at the 2001 Census, while the Derry Urban Area had a population of 90,736. The district administered by Derry City and Strabane District Council contains both Londonderry Port and City of Derry Airport. Derry is close to the border with County Donegal, with which it has had a close link for many centuries. The person traditionally seen as the founder of the original Derry is Saint , a holy man from , the old name for almost all of modern County Donegal, of which the west bank of the Foyle was a part befor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Front Street (Philadelphia)
Front Street in Philadelphia, Pennsylvania is a north–south street running parallel to and near the Delaware River. In 1682, when the city was laid out by William Penn, it was the first street surveyed and built in the new colony of Pennsylvania. As part of the King's Highway, which extended from Boston to Charleston, South Carolina, and as the waterfront of Philadelphia's port, it was the most important street in the city from its founding into the nineteenth century. Front Street is the origin street of Philadelphia's numbered streets. There is no First Street, Front Street exists in its place, and numbered streets begin at the next major block with Second Street, about one-tenth mile west. At least three stations of SEPTA's Market–Frankford Line are built above Front Street. They include Girard Station, Berks Station, and York–Dauphin Station. SEPTA gives the address of also Spring Garden Station as Front Street, by which pedestrians have access, but its platform lie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
City Tavern
The City Tavern is a late-20th century building designed to be the replica of the historic 18th-century tavern and hotel building which stood on the site. It is located at 138 South 2nd Street in Philadelphia, at the intersection of Second and Walnut Streets, near Independence Hall. The original 18th century building was frequented by the Founding Fathers of the United States and other distinguished people. High-profile events took place there, including the first anniversary celebration of the 4th of July. The original building was partially burned down in the 19th century and the remains were demolished in 1854. Located in Independence National Historical Park, the present recreation was opened in 1976 for the American Bicentennial and operated as a restaurant which used typical 18th century recipes. The City Tavern temporarily closed during the COVID-19 pandemic in 2020. History The original structure housed a business which John Adams called the "most genteel tavern in Ame ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Insurance
Marine insurance covers the physical loss or damage of ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination. Cargo insurance is the sub-branch of marine insurance, though Marine insurance also includes Onshore and Offshore exposed property, (container terminals, ports, oil platforms, pipelines), Hull, Marine Casualty, and Marine Liability. When goods are transported by mail or courier or related post, shipping insurance is used instead. History In December 1901 and January 1902, at the direction of archaeologist Jacques de Morgan, Father Jean-Vincent Scheil, OP found a 2.25 meter (or 88.5 inch) tall basalt or diorite stele in three pieces inscribed with 4,130 lines of cuneiform law dictated by Hammurabi (c. 1792–1750 BC) of the First Babylonian Empire in the city of Shush, Iran. Code of Hammurabi Law 100 stipulated repayment by a debtor of a loan to a creditor on a s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; common examples include claims relating to suicide, fraud, war, riot, and civil commotion. Difficulties may arise where an event is not clearly defined, for example, the insured knowingly incurred a risk by consenting to an experimenta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Insurance
Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance. Property is insured in two main ways—open perils and named perils. Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism, and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage-causing events as fire, lightning, explosion, cyber-attack, and theft. History Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Independence Hall
Independence Hall is a historic civic building in Philadelphia, where both the United States Declaration of Independence and the United States Constitution were debated and adopted by America's Founding Fathers. The structure forms the centerpiece of the Independence National Historical Park and has been designated a UNESCO World Heritage Site. The building was completed in 1753 as the Pennsylvania State House and served as the capitol for the Province and Commonwealth of Pennsylvania until the state capital moved to Lancaster in 1799. It was the principal meeting place of the Second Continental Congress from 1775 to 1781 and was the site of the Constitutional Convention in the summer of 1787. A convention held in Independence Hall in 1915, presided over by former U.S. president William Howard Taft, marked the formal announcement of the formation of the League to Enforce Peace, which led to the League of Nations in 1920 and the United Nations, a quarter century later. Pre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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