Pirate Insurance

 In Colorado Insurance Professional

Pirates

Pirates were civilized?  Yes! They were the first group of people to adopt Workmen’s Compensation because stealing a vessel’s cargo was, and still is, very dangerous.  If a pirate lost a finger, foot, leg, or eye he was compensated for his loss.  The payment was anywhere from 100-800 pieces of 8 (Spanish Dollar).  Let us take this into a whole new perspective.  The average weekly wage was 2 pieces of 8.  So, the pirate workmen’s compensation policy paid pirates anywhere from 2-16 years in annual wages.  It all depended on what type of injury they sustained.

Workmen’s Compensation

After the colonial government hunted down all the pirates, it wasn’t until Otto Von Bismark needed to spice up his political campaign that the next workmen’s compensation policy was created.   The year was 1881 when Bismark started his Workers Accident Insurance, which helped pave the way for the United States to adopt Workmen’s Compensation.  In 1917, the Supreme Court upheld the Constitutionality of Compulsory Insurance requirements, opening the door for all states to require workers compensation.

If you would like to know more about pirate life, then head down to Denver’s Museum of Nature and Science and visit their pirate exhibit through August 21st.

If would like more information about the history of Workmen’s Compensation, click here http://www.insurancejournal.com/uncategorized/2011/03/23/191291.htm

Affordable American Insurance would like to persuade you not to become a pirate. Piracy is greatly frowned upon these days.

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Affordable American Insurance is an independent insurance agency located in Colorado. We sell insurance from multiple insurance companies some of these companies include: Travelers, Safeco, Progressive, The Hartford, and many more.  If you are currently looking for auto, home, life, health, business, or any other type of insurance, we have a company that is right for you.  Find you local independent Affordable American Insurance agent here.

Affordable American Insurance

Joshua Smith
Affordable American Insurance
Director of Social Media
jsmith@insuranceaai.com

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Showing 2 comments
  • Tracy

    Hey, kllier job on that one you guys!

    • josh

      @Tracy Pirates are awesome. I am a little sad that the pirate exhibit is leaving the Denver Museum of Nature and Science. It gives everyone a chance to learn about pirates and how they created a type of workers comp insurance. I hope you will come back and read more of our blogs.