The Hagley Vault

Here's a Vault post for all the savvy shoppers out there. The history of this 1932 fire insurance map for the Interlaken Mills textile factory dates back to 1835, when Zachariah Allen (1795-1882), owner of a woolen mill in Providence, Rhode Island, got fed up with his insurance premiums.

Rates had been rising for all mill owners during the economic depression of 1835, regardless of their individual history of losses or potential for future risk. In an attempt to reduce his burden, Allen appealed to his insurer, pointing out a number of innovative safety features he had implemented to reduce risk at his mills, which were some of the first in the nation to incorporate fire doors, sprinkler systems, and other built-in fire suppression devices. But to no avail.

So Allen started his own company, along with a team of other local mill owners who had also incorporated loss-prevention features into their operations. By 1836, the Manufacturers Mutual Fire Insurance Company was…Read more...