4th Blog Post- Relevant Points of Interest throughout History

Throughout the 145 years that Marsh & McLennan Companies have been running, they have been involved in and inspired by events in history. In fact, Marsh & McLennan Companies would not even exist without the 1971 Great Chicago Fire. Many properties and companies lost everything in the fire, and had no way of receiving compensation for their lost properties and homes. Marsh & McLennan Companies, then named the Dan H. Bomar Company, capitalized on this opportunity and began a new business venture entitled “risk management”. The Dan H. Bomar Company was a success, taking the business of Northern Pacific and Great Northern Railroads and becoming the world’s largest insurance broker.

Marsh & McLennan Companies braved the Great Depression, and managed not to let any of their workers go. The company left the 1930’s strong, and began working “government defense programs and serve[d] as a resource for clients involved in large defense projects” during World War II in 1945. After the war, Marsh & McLennan Companies focused on “increasing consumer credit” and creating contracts with the newly booming automobile industry. The newly-created automobile industry was full of unprecedented risks, and Marsh & McLennan Companies tried to predict these risks and protect the companies and people involved. Marsh & McLennan Companies also “develope[d] insurance products for home appliances, cars, and the banks that help[ed] to fund Americans’ new purchases”.

The most tragic event in history that Marsh & McLennan Companies have ever been involved in were the terrorist attacks on 9/11. Marsh & McLennan Companies had eight floors of business in the North Tower of the World Trade Center. When the hijacked flight flew into the World Trade Center, Marsh & McLennan offices were directly hit, killing everyone inside. 295 workers and 63 business associates were instantly killed in their offices. It is without a doubt the darkest day in company history. Marsh & McLennan Companies says that: “The profound loss of [their] colleagues will always be a part of the Company’s history”.



Source:

"MMC At A Glance." MMC At A Glance (n.d.): 1-20. Marsh and McLennan Companies. Web. <https://www.mmc.com/content/dam/mmc-web/Files/MMC%20At%20A%20Glance%20Brochure_V47_for%20web%20viewing.pdf>.