Accidental Death Insurance Company (No. 2)
The second Accidental Death Insurance Company was established in 1854 as the Travellers' and Marine Insurance Company, which had originally been set up as an accident company granting policies to combine land and sea risks. The company was liquidated in 1868.
Accidental Death No. 2 company logo, 1859 In 1857, the directors of the first Accidental Death Insurance Company transferred all their business to Travellers' and Marine to protect their original shareholders from loss resulting from a series of frauds. Two years later, the company changed its name under an act of parliament to the Accidental Death Insurance Company (No. 2) and officially took on the business of the first Accidental Death Company.
In 1865, the company transferred its business to the Accidental and Marine Insurance Corporation, which had been established to take over the business and extend the marine department that had been operating since 1859. The marine business was not a success, however, and, in 1867, Accidental Death decided to take its business back and transfer it to the first Accident Insurance Company Ltd.
In 1870 the first Accident Insurance Company's business was transferred to the second Accident Insurance Company Ltd, which was acquired by the Commercial Union Assurance Company Ltd in 1906.
|1854||The company is established|
|1857||The first Accidental Death transfers its business to the company|
|1859||Name changes to the second Accidental Death Insurance Company|
|1865||Business is transferred to the Accidental and Marine Insurance Corporation|
|1867||Business is recalled and transferred to the first Accident Insurance Company|
|1868||The company is liquidated|
|1870||The first Accident Insurance Company business is transferred to the second Accident Insurance Company|
|1906||The second Accident Insurance Company is acquired by the Commercial Union Assurance Company|
Did you know...?
- Following a pit disaster at the Oaks Colliery near Barnsley at the end of 1866, letters appeared in the press criticising the company for refusing to pay out on the death of Mr Parkin Jeffcock, a mining engineer who had descended into the pit to rescue those trapped and lost his life in a further explosion. The company disputed liability on the grounds of his "wilful exposure" to danger.
- In 1855 the company issued 4,330 policies.
- By 1861 the company had paid £153,000 in compensation to 8,000 people killed and injured since its foundation. The equivalent value of the compensation paid would be £150,600,000 today.
- In 1864 policyholders could take out accident insurance for £100 in case of death or £6 a week for disablement for a premium £3 a year.
- The company’s motto was “Help to the Afflicted”.
Subsidiaries and constituents*
|1849 - 1857||Accidental Death Insurance Company (No.1)|
|1851 - 1859||Times and State Insurance Company (accident business only)|
|1852 - 1859||Maritime Passengers' Insurance Company (accident business only)|
|1854 - 1859||British Nation Life Assurance Association (accident business only)|
|1854 - 1859||Marine and General Travellers' Insurance Company|
* Please note the first date given is the date of the establishment of the company and the second date is the date the company was acquired or became a subsidiary. Where only one date is given the company was established as a subsidiary of the parent company. Where one date is preceded by a hyphen the date of the establishment of the company is not known.
Head office premises
|by 1855 - pre 1859||5 Gresham Street, London|
|1859 - 1867||7 Bank Buildings, Lothbury, London|
Staff and officials
|by 1866 - 1867||Mr Oram|
|1867||W H Scattergood|
|by 1855||Edward Solly|
In the archives
The Aviva archive contains specimen policies relating to the Accidental Death Insurance Company (No. 2) from 1859 to 1865.