United States or Australia ? Vote for the TOP Country of the Week !
Thus it appears, that notwithstanding the ease and safety with which the present methods of insurance admit fraud to be practised, the insurers, by a proportionate degree of caution, secure themselves from being injured, and, by consequence, the nation. The insurance of foreign ships is now to be considered, by which great profit arises to the nation.
And an incredible number of the best merchants in the kingdom sunk under the load, as may appear a little by a Bill which once passed the House of Commons for the relief of merchant- insurers, who had suffered by the war with France.
I suppose he saw me glancing about the room in search of some tokens of Shipping, or capital, for he added, "In the City." I had grand ideas of the wealth and importance of Insurers of Ships in the City, and I began to think with awe of having laid a young Insurer on his back, blackened his enterprising eye, and cut his responsible head open.
He must have known for a certainty that if the company could afford to insure him he could not afford to let it. He must have known that the whole body of the insured paid to the insurers more than the insurers paid to them; otherwise the business could not have been conducted. This they cheerfully admitted; indeed, they proudly affirmed it.
"Here is the account cut out of this morning's newspaper: "'DISASTER AT SEA. Intelligence has reached the Royal Yacht Squadron and the insurers which leaves no reasonable doubt, we regret to say, of the total loss, on the fifth of the present month, of the yacht Dorothea, with every soul on board.
And throughout the whole district the buildings are honeycombed with the almost countless brokers from firms who transact as much business as a large insurance company down to shabby men who have failed to succeed in other lines and who eke out an existence on the commissions from an account or two handed them in friendship or in charity all of them the busy intermediaries between the insurers and the insured.
A little of the cargo was taken out of the 'Isabella', but in a few days she went to pieces. Captain Taylor went to Hobarton, and bought from the insurers the schooner 'Sylvanus' which had belonged to him, and having been wrecked was then lying ashore on the coast. He succeeded in floating her off without much damage, and he ran her in the cattle trade for some time.
The insurers, startled at a demand so unexpected, inquired into the affair with all the industry which its importance might naturally incite, and, after some consultation, determined to try whether the ship might not be refitted and brought to Britain. In pursuance of this resolution, they sent workmen and materials, and, without much expense, or any difficulty, brought it hither.
With the owners of the vessel, also, to which he is attached, and among merchants and insurers generally, he is a very different man from what he may be at sea, when his own master, and the master of everybody and everything about him. He knows that upon such men, and their good opinion of him, he depends for his bread.
Word Of The Day