The original owners of Northwestern Mutual Life Insurance Company had the reputation for being people of integrity. The following story reveals their commitment to do the right thing—even when it cost them:

Northwestern Mutual was founded as the Mutual Life Insurance Company of the State of Wisconsin on March 2, 1857. Originally located in Janesville, Wisconsin, the fledgling company relocated to Milwaukee in 1859. Shortly after, the company experienced its first two death claims, when an excursion train traveling from Janesville to Fond du Lac, Wisconsin, derailed, killing 14 people, two of whom were policy owners. With losses amounting to $3,500 and having funds of only $2,000, company President Samuel Daggett and Treasurer Charles Nash personally borrowed the needed funds to pay the claims immediately.

Later when asked why they didn't simply default on the payments, they replied it would not have been the right thing to do to their fellow man. They both agreed they would rather see the company fail than neglect their obligation to those who trusted them to keep their word.