Galaxidi: Shipwrecks, Mutual Insurance Companies, Hellenic Seaman’s Pension Fund

Shipwrecks
The flourishing maritime town was often devastated by the news of a shipwreck.  The wooden vessels, whose only power was in the sails, were easily affected by bad weather.  The means of navigation were primitive, as well as weather forecasting and accurate mapping of riffles and reefs.  Phrases written on some paintings of ships testify to the extent of the tragedy.

Insurance of Ships in Galaxidi
Until about 1860, Galaxidi ship owners used to insure their ships with Greek insurance companies, less frequently with foreign ones.  From 1848, though, they moved to set up their own insurance organization.  In 1860, they founded “TO GALAXEIDION”, Limited Company of Insurance against Risks, which operated for about five years.  In 1866, the Mutual Aid Insurance Company, “TO GALAXEIDION,” was founded, which ceased functioning in 1882.  Because of the need for and the success of Mutual Insurance Companies, six more of them were founded in Galaxidi, and they operated on and off up until the 20th century.

The Hellenic Seaman’s Pension Fund
In 1863, the War Navy captain, Gerasimos Zochios, founded the Greek Seaman’s Pension Fund.  To honor this great benefactor of seafarers, the people of Galaxidi erected his bust in Chirolakas Square and, each year, they hold a memorial service in his honor and lay down a wreath to show their gratitude (photo).