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Posted on @rawstates
Mutual Benefit Life, the Tiffany of insurers, is seized in 1991
1845
Newark, New Jersey
Hudconja · CC BY-SA 3.0 · Wikimedia Commons
Chartered in Newark in 1845, Mutual Benefit Life sold policies to the carriage trade and was known in the business as the Tiffany of life insurers. Losses in an overheated commercial property market caught up with it, policyholders ran for their cash values, and on 16 July 1991 New Jersey regulators put the company into receivership. Newark built a skyline on insurance money, and this is where a large piece of it stopped.
That was 1 of the hidden places.
Location: historic site
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