Cincinnati Financial Corp. Founder Dies At Age 82
A founder of the Cincinnati Financial Corp. has died at the age of 82. John J. Schiff, chairman of the executive committee of Cincinnati Financial Corp. and The Cincinnati Insurance Companies, passed away on Wednesday, October 14.
Born in Cincinnati in 1916, Schiff graduated from Western Hills High School in 1934 and The Ohio State University in 1938. He then attended Harvard University's Navy Supply Corps School.
He entered the insurance business in 1938, first taking a position with Travelers Group Inc. and then opening his own independent agency later that same year. In 1950, he and three other insurance agents established The Cincinnati Insurance Company. From a small beginning with 18 agents and $200,000 in capital, the company evolved into the Cincinnati Financial Corp., the nation's 21st largest publicly traded property and casualty insurance company.
"Jack changed the lives of many people through the power of his charismatic and energetic personality," said Cincinnati Financial's CEO, Robert B. Morgan. "His business achievements and philanthropic acts left a lasting impression on everyone who knew him, on the Cincinnati community and on the insurance industry. His vision has guided the Company since its founding in 1950 and will continue to guide us in the future."
During WWII, Schiff served as Assistant Logistics Officer, U.S. Naval Forces, Germany, and was discharged a Lieutenant Commander. He maintained strong ties with the U.S. Navy, serving on the National Board of Directors of the Navy League of the United States. He served as trustee of the USS Constitution Museum. Schiff provided vital support in the commissioning of the USS Cincinnati, a Navy nuclear attack submarine, in 1978. He was appointed an Honorary Commodore of the United States Naval Institute in Annapolis, MD in 1991 and received the Secretary of the Navy's Superior Public Service Award.
Beneficiaries of Schiff's philanthropic endeavors include: Cincinnati Museum Association, Cincinnati Junior Chamber of Commerce, Cincinnati Music Hall Association, The 1788 Club, Cincinnati Historical Society, Deaconess Hospital, The Salvation Army and Shiloh Community Methodist Church, among many others. In 1997 the Greater Cincinnati Chamber of Commerce recognized him as a Great Living Cincinnatian.
Schiff's insurance industry leadership and service extended to the International Insurance Society, International Insurance Hall of Fame, Griffith Foundation for Insurance Education, Ohio Insurance Institute and the American Institute for Property and Liability Underwriters. He was The Cincinnati Insurance Board's 1976 Man of the Year.
He is survived by his sons John J., Schiff Jr. and Thomas R. Schiff, both of Cincinnati; and daughter Suzanne Reid of Barnstable, MA. Visitation will be held at 9 a.m., Saturday, October 17, at Shiloh United Methodist Church, 580 Anderson Ferry at Foley Road in Delhi Township. A service will follow at 11 a.m. at the church. Burial will be at Spring Grove Cemetery, 4521 Spring Grove Avenue. The family requests that donations in his memory be made to the charity of your choice.