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Article THE GENERAL ASSURANCE ADVOCATE. ← Page 5 of 8 →
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The General Assurance Advocate.
regards their various members . Such societies may drag on for a long period without absolute failure , hut in the end they must involve calamitous losses . Too often they are founded with the sole view of profit to needy and unprincipled adventurers ; and they generally tend to keep up the drinking customs of the orders among which and upon which they exist , and to encourage those habits of intemperance , and
consequent improvidence , which , above all other habits , are destructive of prudent forethought ancl sagacity , and inimical to the extension of the principles of legitimate and safe assurance . By drawing the attention of the members of this class of societies to the fact , that notwithstanding the delusive promises of cheapness which many of them hold out , if the cost , direct and indirect , which they entail be calculated , the benefits
they promise may be more advantageously purchased of better managed ancl more respectable institutions , while , at the same time , their security would be greatly increased ; and we hope , by thus helping to extend the basis of safe and equitable Insurance , to benefit both the Companies and all classes of Insurers . With regard to the several principles upon which
various Companies are established , ancl the terms upon which they grant policies , we shall endeavour to furnish some clue to Insurers , to guide them in their selection ; ancl in so doing , we shall always advocate security , as opposed to , or rather distinguished from , mere cheapness ; and we shall also , in treating of the different kinds of offices , direct attention to their principles , with a view of showing the purposes to which we
conceive each of them is more especially applicable ; and this will be done not invidiously or individually , hut by dividing them into classes , for the purpose of collective reference . The only occasions on which we shall feel justified in resorting to direct reference , are those where we conceive fraud is intended , and then we shall not flinch from a complete and ample exposure , for the protection of the public . There are ,
however , matters in which Insurers have a more direct ancl special interest than those to which we have alluded . Cases sometimes occur in which the representatives of a deceased policy-holder find themselves in collision with a powerful and wealthy corporation , and this must sometimes occur where the parties are too poor to take efficient measures for the enforcement of their claims . In such circumstances there is no mode
so likely to place all in their proper and relative positions , as a calm and impartial discussion , through the press , of both sides of the question ; and we shall not shrink from a performance of what we think our duty in that particular , should we unfortunately be called on to perform it ; but as we regard prevention as far better than cure , and as we believe that such misunderstandings usually arise from imperfect knowledge and misapprehension , we think that much maybe done towards obviating their occurrence , by extending a knowledge of the practice and principles
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
The General Assurance Advocate.
regards their various members . Such societies may drag on for a long period without absolute failure , hut in the end they must involve calamitous losses . Too often they are founded with the sole view of profit to needy and unprincipled adventurers ; and they generally tend to keep up the drinking customs of the orders among which and upon which they exist , and to encourage those habits of intemperance , and
consequent improvidence , which , above all other habits , are destructive of prudent forethought ancl sagacity , and inimical to the extension of the principles of legitimate and safe assurance . By drawing the attention of the members of this class of societies to the fact , that notwithstanding the delusive promises of cheapness which many of them hold out , if the cost , direct and indirect , which they entail be calculated , the benefits
they promise may be more advantageously purchased of better managed ancl more respectable institutions , while , at the same time , their security would be greatly increased ; and we hope , by thus helping to extend the basis of safe and equitable Insurance , to benefit both the Companies and all classes of Insurers . With regard to the several principles upon which
various Companies are established , ancl the terms upon which they grant policies , we shall endeavour to furnish some clue to Insurers , to guide them in their selection ; ancl in so doing , we shall always advocate security , as opposed to , or rather distinguished from , mere cheapness ; and we shall also , in treating of the different kinds of offices , direct attention to their principles , with a view of showing the purposes to which we
conceive each of them is more especially applicable ; and this will be done not invidiously or individually , hut by dividing them into classes , for the purpose of collective reference . The only occasions on which we shall feel justified in resorting to direct reference , are those where we conceive fraud is intended , and then we shall not flinch from a complete and ample exposure , for the protection of the public . There are ,
however , matters in which Insurers have a more direct ancl special interest than those to which we have alluded . Cases sometimes occur in which the representatives of a deceased policy-holder find themselves in collision with a powerful and wealthy corporation , and this must sometimes occur where the parties are too poor to take efficient measures for the enforcement of their claims . In such circumstances there is no mode
so likely to place all in their proper and relative positions , as a calm and impartial discussion , through the press , of both sides of the question ; and we shall not shrink from a performance of what we think our duty in that particular , should we unfortunately be called on to perform it ; but as we regard prevention as far better than cure , and as we believe that such misunderstandings usually arise from imperfect knowledge and misapprehension , we think that much maybe done towards obviating their occurrence , by extending a knowledge of the practice and principles