Background
He was born on April 4, 1778, in Philadelphia, the grandson of Dr. John and the son of Dr. Samuel Bard. His mother was Mary, the daughter of Peter Bard, and her husband's cousin.
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William Bard
Edit ProfileEducation
William Bard was graduated from Columbia College in 1797.
Career
Of his business career before his entrance into the field of life insurance little is recorded. In 1830 he organized and was made president and actuary of the New York Life Insurance and Trust Company, with a capital stock of $1, 000, 000. A charter was issued March 9, and business was begun in September. Though several other companies had been chartered to engage, among other activities, in this form of insurance, Bard's company was the first to make it a specialty. Public sentiment was generally either indifferent or hostile, while the other companies neglected it and in some cases discouraged its development. Bard, however, was an enthusiastic advocate and earnestly set himself to the task of converting the opposition. By a judicious use of propaganda and by establishing the agency system he soon brought about a more favorable public attitude. In a booklet published by him in December 1832, which probably was widely circulated, he replied to the current criticisms of life insurance and predicted for it a rapid development. As an evidence of its growth he cited the case of his own company, the New York office of which had had sixty-five policies in force in June and now had 150. Through his energy and zeal his company prospered. By the end of 1839 it could boast of 694 policies in force, for an amount of $2, 451, 958. It appears to have been particularly favored, moreover, by the Court of Chancery, which entrusted to it large sums of money. But the competition of other companies - particularly that of the New York Life Insurance Company, organized in 1845 - proved hurtful, and though it continued as a trust company, its life insurance business gradually declined. Some time before 1848 Bard retired. He died at his home on Staten Island.
Achievements
Connections
On October 7, 1802, William bard married Catherine, the daughter of Nicholas Cruger.
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Born
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Died
January 17, 1853 (aged 74) -
Nationality
American