April 23, 2014
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The Quill Pen and the History of Insurance

Quill Pen History

The concept of insurance, as we understand it today, began in England in the late 1600's where it became popular for traders. Eventually, ship owners, traders, and merchants became the organizers of insurance contracts. These business people often met at The Lloyds Coffee House, which is a predecessor to the famous Lloyds of London. Lloyd's of London saw the growing need for marine insurance and became one of the first established insurance companies. Ship owners and "underwriters" or backers met to formulate insurance contracts. The participants in these insurance contracts signed their names underneath the contract, writing at the same time the amount of the risk that would be assumed by each businessman. As such, they became partners in the venture at hand.  Quill pens were used in this formal contract signing.

Even today the traditional practice is maintained. When a ship insured with Lloyds sinks, an entry in their ledger is made with a quill pen.  In past years, the ledger has held the names of the Titanic and the Lusitania.

And so the tradition of the business of insurance is tied to the old fashioned quill pen. 

Stability, Service, Partnership

At Olson & Olson, Ltd, we use the quills in our logo to represent the tradition tied to the history of insurance, but also to represent the tradition of stability, service and partnership we provide to our clients.