Thursday, August 18, 2011

Atlantic Mutual Insurance


1842 - 2011

David Thompson scan

Atlantic Mutual Insurance was liquidated earlier this year, after surviving nearly 170 years as a business.  The firm, which paid a $100,000 claim on the hull of the Titanic in 1912, could not survive a wave of workmen's compensation claims under commercial policies that the firm had sold years ago.  By 2010 New York State insurance regulators revoked Atlantic's licenses because of a negative surplus (an oxymoron if there ever was one). 

The above screen capture from the now defunct Atlantic Mutual Insurance website was taken by me when the first post on this company was published on this site a little over one year ago.

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