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Finance History | Travelers — Two Cents for a Four-Block Walk on State House Square
· 1864-4
Unreviewed contributionBy kevin · · Report an issue
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Finance History | Travelers — Two Cents for a Four-Block Walk on State House Square
kevin
4/1/1864
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People treat Travelers as a Hartford tower and a St. Paul merger ticker that arrived already writing auto and home policies.
The first product was accident cover.
On 1 April 1864, James G. Batterson and fellow Hartford businessmen organized The Travelers Insurance Company as the first accident-insurance company in the United States.
A marker at 58 State House Square records that the firm opened in a building on this site.
The company still keeps, as a souvenir, a two-cent premium Batterson is said to have charged a local banker for the four-block walk home from the post office. The anecdote is the house origin story, not an independent contemporary report.
Batterson remained president until his death in 1901.
Travelers later added employer liability in 1889, an automobile policy in 1897, and aircraft liability in 1919.
The present Travelers Tower at 1 Tower Square was finished in 1919 to designs by Donn Barber. At 527 feet it was then among the tallest buildings in the world and the tallest in New England until Boston's Prudential Tower opened in 1964.
It is the company's fourth Hartford home.
In 2004 Travelers Property and Casualty merged with a subsidiary of the St. Paul Companies. The combined firm still keeps a large presence in this square.
The S and P 500 insurer still dates its founding to this April filing and this block of State House Square.
Photo: public domain, via Wikimedia Commons. The view is Travelers Tower, the 1919 headquarters a block from the founding marker.
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