War Risks.

Taranaki Daily News, Volume XLV, Issue 251, 15 December 1903, Page 4

War Risks.

The most curious commentary on the possibility of war between Japan and Russia is afforded by the state of the marine insurance market with regard to war risks. These risks, of course, lie outside those carried by the ordinary marine insurance policy which covers shipowners in respect of what may be called mare ordinary accidents then capture by belligerent Powers. English vessels proceeding upon a voyage to the prdbaible 9oat of a possible war have their war risks taken by underwriters at the normal war risk rates of half a crown to three shillings and fourpence per cent. Japanese ships are taken at the rate of ten shillings per cent., and Russian warships are so few in number that there seems no way of getting at a quotation. A high authority 011 marine insurance recently statod that under the exceptional circumstances he could not understand the lowness of rates and lack of activity in the insurance market.

He foresaw great danger in the possibility that Russia might not be able to recede at the last moment. But this danger was not in the least reflected in insurance rates. Rates were much lower, and there was nothing doing compared with what happened during the Fashoda difficulty between England and Fiance.