Insurance in the United States
The first insurance company in the United States underwrote fire insurance and was formed in Charles Town (modern-day Charleston), South Carolina, in 1732. Benjamin Franklin helped to popularize and make standard the practice of insurance, particularly against fire in the form of perpetual insurance. In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire. Franklin's company was the first to make contributions toward fire prevention. Not only did his company warn against certain fire hazards, it refused to insure certain buildings where the risk of fire was too great, such as all wooden houses. In the United States, regulation of the insurance industry is highly Balkanized, with primary responsibility assumed by individual state insurance departments. Whereas insurance markets have become centralized nationally and internationally, state insurance commissioners operate individually, though at times in concert through a national insurance commissioners' organization. In recent years, some have called for a dual state and federal regulatory system (commonly referred to as the Optional federal charter (OFC)) for insurance similar to that which oversees state banks and national banks.
Shreveport is the third-largest city and the principal city of the fourth largest metropolitan area in the U.S. state of Louisiana, as well as being the 109th-largest city in the United States.
It is the seat of Caddo Parish and extends along the Red River (most notably at Wright Island, the Charles and Marie Hamel Memorial Park, and Bagley Island) into neighboring Bossier Parish. Bossier City is separated from Shreveport by the Red River. The population was 200,145 at the 2000 census, and the Shreveport-Bossier City Metropolitan Area population exceeds 375,910. The Shreveport-Bossier City Metropolitan Statistical Area ranks 117th in the United States, according to the United States Census Bureau.
Shreveport was founded in 1836 by the Shreve Town Company, a corporation established to develop a town at the juncture of the newly navigable Red River and the Texas Trail, an overland route into the newly independent Republic of Texas and, prior to that time, into Mexico.
Shreveport is the commercial and cultural center of the Ark-La-Tex, the area where Arkansas, Louisiana, and Texas meet. Many people in the community refer to the two cities of Shreveport and Bossier City as "Shreveport-Bossier".
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