A Bridge to Better: Supporting new ways to better serve our clients.
By the mid-1950s, Ohio was the only state prohibiting multiple-line policies. While insurance companies in every other jurisdiction from coast to coast, allowed residents to protect their homes from fire, theft and liability with a single policy, those based in the Buckeye State could not.
After much lobbying by the state’s insurance industry, the Ohio Legislature at last took up the issue of package policies in early 1955. The new law took effect on Labor Day of that year.
Sticking with our flexible approach, we decided to write individualized policies offering the best coverage more economically than cookie-cutter policies sold elsewhere. Thanks to John J. Schiff, Sr.’s (Jack) foresight and Robert Cosbey’s (Bob) hard work, Cincinnati Insurance was able to offer the new package policy as soon as the law allowed.
At Cincinnati, it’s not about innovation just for innovation’s sake. Any approach must fit within our legacy of putting people and relationships first. It’s what has guided our cautious but forward-looking approach to business since 1950. It’s an approach that continues with the cutting-edge products, services and technologies we deploy today.
📸: First commercial burglary policy, February 1952. The Cincinnati Insurance Company co-founder John J. Schiff, Sr. (Jack) signs the company’s first burglary insurance policy, purchased by Edward J. Moore of Moore’s Men’s Shop in Cincinnati.
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