INSURANCE IN AMERICA.
The directors of the N.Z. Insurance Offices have been patting themselves on the back for their 'cuteness in extending their business agencies to America, but it is well to warn them at once that it is a very dangerous proceeding. The Scientific American states that the losses by lire in 1881 have been considerably in excess of any previous year, and in consequence of severe competition it has been a losing business. The fire hazard has been, with many unscrupulous companies, a secondary consideration ; and they have insured anything at more than its value for the sake of the premium, which is practically offering a bonus to incendiarism. Indeed, insurance men say that sixtenths of all the fires are of incendiary origin. Not less than 100 million dollars worth of property was destroyed by fire in the "United States in 1881.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/TO18820429.2.3.5
Bibliographic details
Observer, Volume 4, Issue 85, 29 April 1882, Page 99
Word Count
144INSURANCE IN AMERICA. Observer, Volume 4, Issue 85, 29 April 1882, Page 99
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in