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Article THE GENERAL ASSURANCE ADVOCATE. ← Page 6 of 8 →
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The General Assurance Advocate.
of Assurance ; but when they are forced upon us , we think that the interest of all will be better served by a full and clear statement than , as has hitherto been the case , by being suffered to rest on one-sided and partial accounts , by which both often suffer . To the public , who are neither Assurers nor Insured , we , after directing their attention to so much of the above address as concerns
them , and much of it unquestionably does , would only say , that as the " Freemasons' Quarterly Review" has not been found entirely unacceptable to those unconnected with the Order , so we would hope that the " General Assurance Advocate" may be deemed worthy of support from others than those whose direct interests it aspires to serve ancl represent . Of coursein the limited space of an address , many topics are hut
, lightly touched upon , many entirely omitted ; our object has been merely to sketch the outline of a publication , which we think necessary for the times , and which we hope , by truth , care , and industry , to make essentially useful .
SOME STATISTICS OF INSURANCE OFFICES . THE practice of Insurance has become so extensive and important , the insurances on fire alone , according to a competent authority , representing a sum of about one thousand millions , while we have no means at hand of calculating the immense sums guaranteed by policies on lives ; annuities , and insurances of other kinds ; that the subject , even in its
present comparatively undeveloped state , may fairly claim to be considered one of national importance . We have before us a list of more than two hundred English and Scotch offices of every shade of importance , which may , with reference to their foundation , be divided into three great classes—the mixed , the proprietary , ancl the mutual . It is scarcely necessary to explain these terms to those who are conversant
with Insurance , but as this paper may fall into the hands of those who are unacquainted with it , we may say , that a proprietary Company is one which is carried on by a body of Proprietors , who subscribe a capital for the purpose of ensuring the stability of the Company and the immediate payment of all demands , the Proprietors taking all the risk , and dividing all the profits among themselves , as a return for the capital
invested ; this is the purely commercial form of Insurance . The Mutual offices , as their designation imports , are formed by persons who associate themselves together for their mutual benefit , and take a share in the gain or loss of the institutions with which they are connected ; this is the purely associative form of Insurance , as contra-distinguished from the commercial proprietary offices . The Mixed Offices are those which combine some of the features of both the proprietary and the mutual ,
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
The General Assurance Advocate.
of Assurance ; but when they are forced upon us , we think that the interest of all will be better served by a full and clear statement than , as has hitherto been the case , by being suffered to rest on one-sided and partial accounts , by which both often suffer . To the public , who are neither Assurers nor Insured , we , after directing their attention to so much of the above address as concerns
them , and much of it unquestionably does , would only say , that as the " Freemasons' Quarterly Review" has not been found entirely unacceptable to those unconnected with the Order , so we would hope that the " General Assurance Advocate" may be deemed worthy of support from others than those whose direct interests it aspires to serve ancl represent . Of coursein the limited space of an address , many topics are hut
, lightly touched upon , many entirely omitted ; our object has been merely to sketch the outline of a publication , which we think necessary for the times , and which we hope , by truth , care , and industry , to make essentially useful .
SOME STATISTICS OF INSURANCE OFFICES . THE practice of Insurance has become so extensive and important , the insurances on fire alone , according to a competent authority , representing a sum of about one thousand millions , while we have no means at hand of calculating the immense sums guaranteed by policies on lives ; annuities , and insurances of other kinds ; that the subject , even in its
present comparatively undeveloped state , may fairly claim to be considered one of national importance . We have before us a list of more than two hundred English and Scotch offices of every shade of importance , which may , with reference to their foundation , be divided into three great classes—the mixed , the proprietary , ancl the mutual . It is scarcely necessary to explain these terms to those who are conversant
with Insurance , but as this paper may fall into the hands of those who are unacquainted with it , we may say , that a proprietary Company is one which is carried on by a body of Proprietors , who subscribe a capital for the purpose of ensuring the stability of the Company and the immediate payment of all demands , the Proprietors taking all the risk , and dividing all the profits among themselves , as a return for the capital
invested ; this is the purely commercial form of Insurance . The Mutual offices , as their designation imports , are formed by persons who associate themselves together for their mutual benefit , and take a share in the gain or loss of the institutions with which they are connected ; this is the purely associative form of Insurance , as contra-distinguished from the commercial proprietary offices . The Mixed Offices are those which combine some of the features of both the proprietary and the mutual ,