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Author: William Temple Emmet Publisher: Forgotten Books ISBN: 9781396787331 Category : Business & Economics Languages : en Pages : 30
Book Description
Excerpt from What Should Be the Attitude of the State Toward the Business of Fire Insurance?: Delivered at Meeting of National Association of Local Fire Insurance Agents in Cincinnati, Ohio, on October 15, 1913 I know of no more interesting present-day problem than that which has grown out of the efforts that are now being made, in many parts of the United States, to fix and control fire insurance rates by governmental action. Of course, it is only a single phase of a very large movement that is in progress throughout the civilized world looking toward the strengthening of governments in their powers of control over private business. But, from certain points of view, the business of fire insurance seems, in a very particular sense, to be one which can be better conducted by private individuals than by even 'the most perfect governmental machinery. It seems to possess certain features which make it a particularly dangerous, field for the people in their organized capacity to attempt to enter. A good many kinds of business lend themselves quite easily to the designs of those who would like to see a socialistic State established here with the least possible delay. The idea of governmental operation pre - sents no insurmountable difficulties in a number of cases. But in the case of fire insurance, our present - day reformers and radical thinkers, bent on driving private capital out of the field and leaving this in the exclusive control of government, are confronted upon-the threshold by unusual obstacles which are inherent to the business itself, and few suggestions have yet been made, of a practical nature, respecting the manner in which these obstacles can be avoided. Notwithstanding all this, however, it is no overstatement to say that, at the present time, a very formidable and aggressive movement is on foot, having for its ultimate purpose the virtual transaction of the business of fire insurance by government. What is the peculiar feature of the fire insurance business which makes the problem of State participation in this business a more difficult one than the corresponding problem in the case of railroads. For instance, or of water companies, or of telegraphand telephone companies? Well, broadly speaking, what I refer to is of course the fact that fire insurance has always been, and must always be, to an extent not approached by any other legitimate business I know of, a game of chance pure and simple - a game of chance in which men who are qualified by temperament and experience to play it, and who are willing to risk their money in it, can survive, but in which none but experts can with any safety engage. If it were not that the word has acquired a sort of invidious meaning which makes it unsafe to use it in connection with any legitimate business, I should be inclined to use the word gambling in trying to describe the exact feature of the business of fire insurance that I am referring to. It would be obviously improper, however, to attempt to completely charac - terize by any such word a business so beneficial to the entire world as the business of fire insurance is when it is properly conducted. But that the uncertainties and extraordinary hazards which attach to all games of chance enter into the transaction of this business to a very remarkable degree, cannot be denied. It is this element in fire insurance which seems to require that it shall remain in competent private hands longer than most other kinds of enterprise 4 for I am assuming that all of us will agree that the State is no fit agency for the transaction of business into which the element of chance and guess-work enters to any abnormal extent. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
Author: William Temple Emmet Publisher: Forgotten Books ISBN: 9781396787331 Category : Business & Economics Languages : en Pages : 30
Book Description
Excerpt from What Should Be the Attitude of the State Toward the Business of Fire Insurance?: Delivered at Meeting of National Association of Local Fire Insurance Agents in Cincinnati, Ohio, on October 15, 1913 I know of no more interesting present-day problem than that which has grown out of the efforts that are now being made, in many parts of the United States, to fix and control fire insurance rates by governmental action. Of course, it is only a single phase of a very large movement that is in progress throughout the civilized world looking toward the strengthening of governments in their powers of control over private business. But, from certain points of view, the business of fire insurance seems, in a very particular sense, to be one which can be better conducted by private individuals than by even 'the most perfect governmental machinery. It seems to possess certain features which make it a particularly dangerous, field for the people in their organized capacity to attempt to enter. A good many kinds of business lend themselves quite easily to the designs of those who would like to see a socialistic State established here with the least possible delay. The idea of governmental operation pre - sents no insurmountable difficulties in a number of cases. But in the case of fire insurance, our present - day reformers and radical thinkers, bent on driving private capital out of the field and leaving this in the exclusive control of government, are confronted upon-the threshold by unusual obstacles which are inherent to the business itself, and few suggestions have yet been made, of a practical nature, respecting the manner in which these obstacles can be avoided. Notwithstanding all this, however, it is no overstatement to say that, at the present time, a very formidable and aggressive movement is on foot, having for its ultimate purpose the virtual transaction of the business of fire insurance by government. What is the peculiar feature of the fire insurance business which makes the problem of State participation in this business a more difficult one than the corresponding problem in the case of railroads. For instance, or of water companies, or of telegraphand telephone companies? Well, broadly speaking, what I refer to is of course the fact that fire insurance has always been, and must always be, to an extent not approached by any other legitimate business I know of, a game of chance pure and simple - a game of chance in which men who are qualified by temperament and experience to play it, and who are willing to risk their money in it, can survive, but in which none but experts can with any safety engage. If it were not that the word has acquired a sort of invidious meaning which makes it unsafe to use it in connection with any legitimate business, I should be inclined to use the word gambling in trying to describe the exact feature of the business of fire insurance that I am referring to. It would be obviously improper, however, to attempt to completely charac - terize by any such word a business so beneficial to the entire world as the business of fire insurance is when it is properly conducted. But that the uncertainties and extraordinary hazards which attach to all games of chance enter into the transaction of this business to a very remarkable degree, cannot be denied. It is this element in fire insurance which seems to require that it shall remain in competent private hands longer than most other kinds of enterprise 4 for I am assuming that all of us will agree that the State is no fit agency for the transaction of business into which the element of chance and guess-work enters to any abnormal extent. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
Author: Fredk; G. Smith Publisher: Forgotten Books ISBN: 9781330163160 Category : Reference Languages : en Pages : 147
Book Description
Excerpt from Practical Remarks on the Present State of Fire Insurance Business: The Evils of Competition Pointed Out; With Hints for Improvement Acting under a sense of this obligation, I have presumed to submit the following remarks to your consideration, as I conceive the present time to be peculiarly adapted for effecting some improvement on the fire insurance business. Gentlemen, you are all well acquainted with the ruinous system which has so long prevailed in this business, and the remedy is with yourselves. The object which led to the reduction of rates and competition having, it is presumed, been in a great degree attained by compelling numerous offices to relinquish the fire business, it is but reasonable to look forward to some improvement, particularly when consequences are experienced which were never contemplated, and which are pointed out in these remarks. The great benefit to be derived from an unanimity between all the offices as to rates must be apparent; and I trust a calm consideration of all the evils attendant on the present competing system will lead to something being attempted for the improvement of the business. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Edward Augustus Ketcham Publisher: Forgotten Books ISBN: 9781330316979 Category : Business & Economics Languages : en Pages : 316
Book Description
Excerpt from Fire Insurance: The Essentials of the Fire Insurance Business Those divisions, relating to the controversial subjects of government insurance and federal supervision of insurance, have been treated from the historical standpoint, in which the author has been careful to give the arguments on both sides of these questions. The subject of fire hazards and the closely related topic of rating have been treated in such a manner as to set forth the essential features of these topics. The underlying principles of schedule rating, as shown in the Mercantile schedules and the Dean schedules, have been quite fully developed owing to the fact that there is much in these subjects which still demand the careful attention of all students who wish to gain a knowledge of the fire insurance business. While there will undoubtedly be modifications of the system of schedule rating, so as to introduce a new factor for the conflagration hazard, still it is doubtful whether there will be many changes in the underlying principles which their authors have already developed. The rating and grading schedules that have lately been evolved by Mr. E. G. Richards, Chairman of the Actuarial Committee of the National Board of Fire Underwriters, have also received due treatment. The author believes that the time is near at hand when a system of rating risks will be based upon the experience of the companies. Mr. Richards' efforts are an attempt in the right direction, and his method has been set forth at considerable length in the hope that it may induce others to help solve the problem. That part of the theme relating to fire prevention, which treats of the means of egress from public buildings, has received its proper share of attention. A large number of lives are lost every year through inadequate means of escape from burning buildings. This is unnecessary and a crime against society. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: Fredk G. Smith Publisher: Forgotten Books ISBN: 9780656354504 Category : Reference Languages : en Pages : 146
Book Description
Excerpt from Practical Remarks on the Present State of Fire Insurance Business: The Evils of Competition Pointed Out; With Hints for Improvement Any work having for its Object to enhance or raise the price of a commodity, is, from its nature, sure to meet with Opposition from the public, who are seldom or never known to complain of an article being purchasable on too easy terms. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Author: William Temple Emmet
Author: William Temple Emmet
Author: William Temple Emmet
Author: 
Author: Richard M. Bissell
Author: Fredk; G. Smith
Author: Edward Augustus Ketcham
Author: National Board of Fire Underwriters
Author: 
Author: William Livingston
Author: Fredk G. Smith