One of the first policyholders with Mutual Assurance was Thomas Jefferson. Sworn in as President in 1801, Mr. Jefferson moved to Washington, DC to run our new country. While in office, however, he let his insurance policy on Monticello lapse, resulting in the following correspondence from William Frederick Ast, who introduced the idea Mutual Assurance to the Virginia Assembly in 1794, and was the company's original principal agent.
Mr. Thomas Jefferson RICHMOND 5th, May 1807 Albemarle
Sir,
On recurring to the records of the Mutual Assurance Society, I find that you have not paid your
two-thirds of a quota, 55 dollars 20 cents, due on the tenth of December last, to be paid to Mr.
William Price, cashier general at this place.
You will please to observe that you stand uninsured until you have paid the same; that you have to
pay interest to the day of payment, and in failure of which, under the law, a motion must be made
against you.
When the great fire happened at Norfolk, in 1804, the towns and country were joined - the
payment of the losses sustained took all the funds, then on hand: which is the reason why a call for