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Fire Insurance And Incendiarism

Fire Insurance And Incendiarism image
Parent Issue
Day
2
Month
November
Year
1877
Copyright
Public Domain
OCR Text

The Chronicle, an insurance jonrual puhlitslied in New York, states that during tlic past ninc ïnonths over 879,000,000 Forth ot property has beeu destroyed by flre iu the Unitod Stiltes and Canada. Ín the United títatt-s the lussos were $52,330,900, and iu Canada $27}358,400. D uring the curesponding pcriod last year the losses in the United States amountod to $47,400,200, while the losseB in Canada were only 87,587,900. The increaso of losses in Canada, it will be observed, was allogcthor out of proportion to the increase in this country, which is aocotinted tor by th faot that the St. Joh n fire oceurred iluring the lattev period. Tt is not easy to account for the great increase of losses during the present year npon the assumption that all firt-s have been accidental. It is highly probable that there lias been agood deal of incendiarism. The increased pressure of the liard times has snpplied additional motives to incendinrisai to persons whose projierty has been liberally iusured, and who are not overstocked witli couscientiousness. The Chronicle soys that latterly niany insurance companies, in their Ijusiness rivalry, have disregartled the laornl charaoter of their risks, "ind taken risks which hitherto could not at any rate whatsoever have been placed upontlieir books." May it notbe, too, that they have often insured property at its lu!l value, or even for more than it was worth? 'The Chrcniclc does not say that such has been the case, but it is likely to have been the case at a time when the companies wnre niaking extraordinary efforts to acquire new business. - Chicaijti THtnes.

Article

Subjects
Old News
Michigan Argus