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Portrait of Daniel Webster Rogers Weathering the Depression –
Our History - 1930s

In the years leading up to the Great Depression, the Windstorm Company was in excellent financial condition. Then the storms came. One of every nine members reported losses, which totaled nearly a half million dollars and 11,017 claims. Nevertheless, the company’s reserves held and it did not need to borrow money.

The looming financial storms were, however, more troublesome than the windstorms. Despite the economic environment of the time, at the close of 1930, the company had modestly increased its business. In 1931, the company absorbed the "Nashville Company", giving them an additional 1,354 policyholders. As a precautionary measure, in August 1932, the board transferred from the general fund to the "emergency fund enough money so there will be 15 cents per $100 on all insurance in force in the emergency fund".

D.W. Rogers died in 1931. The Hastings Herald, a local paper, said of him: "The company opened under his wise and tactful management. He was faithful, loyal, [with] high integrity in business dealings".

At its 50th anniversary in 1935, the Windstorm Company was financially sound and received a complimentary letter from the Department of Insurance. The wisdom of assessing for future needs and building up reserve funds had been proven. In 1938, this policy became Michigan law, "requiring mutual insurance companies to provide a sinking fund… the amount to be one half of the assessments made". The company, at this time, employed 700 agents and served 120,000 members.


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