The public witnessed not only the new Edison light bulb, but a rash of fires. The insurance companies paid off their obligations, but lost 46 years of profits. In 1907, the insurance companies helped enact revised building codes and by so doing broadened UL's role for the country. As time passed and technology expanded, the need for safety testing in many other areas became apparent. UL tested for the airline industry, for boat safety, non-slip floor waxes, explosives, etc., etc.
Technology brings many benefits, but always with the risk of new hazards.
To me a UL label is an insurance policy. In many situations I cannot visually determine if a product is safe. Recently, I became aware of a floor lamp that did not have a UL label. The lamp appeared well-made and was produced by a major manufacturer, but it did not have a UL label. The presence of the listing label, what the UL calls the listing mark, also means that the individual product was manufactured under the UL's follow-up services program.