Fireman's Fund Insurance Company Records, 1898-1940, circa 1970, bulk 1898-1906

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Summary

Creators:
Fireman's Fund Insurance Company
Abstract:
In 1863 William Holdredge created the Fireman’s Fund Insurance Company. His company established a fireman’s retirement fund with financing coming from 10% of his company’s annual net profit. This simultaneously reassured his customers that they were safe from fire and encouraged the firefighters to protect the city from fire.
Extent:
2 Cubic Feet One small flat box, one small pamphlet box, one oversized flat-file, one oversized framed item, one glass plate box.
Language:
English and Collection materials are in English.
Preferred citation:

[Identification of item], Fireman's Fund Insurance Compancy Records (SFH 438), San Francisco History Center, San Francisco Public Library.

Background

Scope and content:

The Fireman’s Fund Insurance Company was founded in San Francisco in 1863 and paid policy holders half cash and half stock after the 1906 Earthquake. The collection consist of ephemera, photos, framed art, glass plates and realia.

Biographical / historical:

In 1860s San Francisco fire was a persistent and frequent threat to the city’s wooden structures. Volunteer firefighters received no compensation for their work which made them inconsistent and unreliable. The city suffered fires so frequently that insurance companies were wary of insuring San Francisco businesses. In 1863 William Holdredge created the Fireman’s Fund Insurance Company to insure San Franciscan’s against fire. His new company established a fireman’s retirement fund with financing coming from 10% of his company’s annual net profit. This simultaneously reassured his customers that they were safe from fire and encouraged the firefighters to protect the city from fire.

The 1870s brought three devastating fires to the country, all insured by the Fireman’s Fund. Beginning in 1871 with the Great Chicago Fire, in 1872 a massive fire burned Boston, and in 1875 the mining town of Virginia City (Nevada) burned to the ground. Each fire brought enormous losses to the Fireman’s Fund Company but they paid out their claims and continued to grow while many of their competitors folded. By January 1906 Fireman’s Fund had 6,000 agents and offered marine and the first national auto insurance policies.

The April 18, 1906 San Francisco Earthquake proved too much for the Fireman’s Fund. The company’s headquarters and records were destroyed during the Earthquake and Fire but the firm accepted each claimant’s word as evidence of their coverage. Estimates put client claims at $11.2 million which exceeded their assets by $4.2 million. To compensate for the company’s gap in assets they paid half the claim in cash and half in stock settling 8,600 claims without litigation. After the earthquake claims were paid Fireman’s Fund distributed its remaining assets to stockholders and went out of business.

The company was immediately succeeded by the debt free Fireman's Fund Corporation with identical leadership. The new corporation appropriated all of its predecessor's ongoing business and agency network and continued to grow and profit throughout the twentieth century. In 1982 the corportation moved its headquarters to Novato.

Acquisition information:
Donated by the Fireman's Fund Insurance Company in 2015.
Processing information:

During processing, the entire collection was re-foldered and re-housed in acid-free folders and boxes.

Arrangement:

The Collection is arranged in 3 series. Series 1: Ephemera, Series 2: Graphic Materials, Series 3: Realia. Series 2 has 3 sub-series. Sub-series 2.1 Photos, Sub-series 2.2: Framed Art, Sub-series 2.3: Glass Plates.

Physical location:
The collection is stored onsite.
Rules or conventions:
Describing Archives: A Content Standard

Access and use

Restrictions:

The collection is available for use during San Francisco History Center hours, with photographs available during Photo Desk hours. Collections that are stored offsite should be requested 48 hours in advance.

Terms of access:

All requests for permission to publish or quote from manuscripts must be submitted in writing to the City Archivist. Permission for publication is given on behalf of the San Francisco Public Library as the owner of the physical items.

All requests for permission to publish from photographs must be submitted in writing to the Photo Curator. Permission for publication is given on behalf of the San Francisco Public Library as the owner of the physical items.

Preferred citation:

[Identification of item], Fireman's Fund Insurance Compancy Records (SFH 438), San Francisco History Center, San Francisco Public Library.

Location of this collection:
San Francisco Public Library
100 Larkin Street
San Francisco, CA 94102, US
Contact:
(415) 557-4567
sfhistory@sfpl.org
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