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Daniel L.B. Smith, the founder of the company that would become Selective Insurance Group, Inc., operated a small chain of general stores in Sussex County, NJ. He sometimes lent a horse and carriage to one of his friends, a banker and insurance agent. On one such occasion, the horse ran away and wrecked the carriage. Smith refused to take any remuneration, but when the friend moved from the area, he gave Smith some policy declarations for farms and homes he had insured through his agency, which then became the D.L. B. Smith Agency.