The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1855-12-25 00:00:00

[DECEMBER 25, 1855.

Insurance W3tica.

THE DISTRICT FIRE INSURAICL
COMPANY. g4g.
Established 1834.-61, NEW STREET, BIBMING-- ET,
BRANCH OFFICE—VVALNI ER-BUILDINGS, WATER-STR"
S. W. ANTHONY, AGENT.
METROPOLITAN COUNTIES & GENE-
LIFE ASSURANCE SOCIETY.
27, REGENT,STREET, LONDON
CAPITAL, £lOO,OOO.
TRUSTEES : Di•F'
Rt. Hon. Spencer H. Walpole, M.P. Richard Spooner, Est,
Henry Peter Fuller, Esq. E. Vansittart Neale, ,s 4;,
The Business Of this Society embraces ASSURANCII,
LIVES, with or without Prpfits, on JOINT LIVES and Sv"
VORS to tb.e
The Assurance of a certain sum to be pair, at a given age to to
Assured himself, or in case of his previously Oyi:1, then
Representatives.
•• • "

Annuities, immediate and deferred, and EndosttnentS. gay
At the Annual General Meeting of the Society, held :Vest
last, its financial position enable l the Directors to declare dit'eprt,
to the-Policy-holders averaging Thirty-three per Cent. 04 f" er•
iniums paid. F. FERGUSON CAMROUX, MOO
LIVERPOOL BRANCH:
Office, Walmer-buildings, Water-street.
LOCAL DIRECTORS: .
Thomas Littledale, Esq. I George Wm. Ewing, 84
Blattbew Gregson, Esq.
PIiANAGER :

Mr. S. W. ANTHONY,
of whom Prospectuses and all information may be obtained,'

................„.„,
NORWICH UNION FIRE INSl.Titivy
SOCIETY.—ESTABLISHED 1821.
CAPITAL 4'550,000. ,
TRUSTEES.
Theßight Hon. Lord Hastings I Edwd. Wenham Martin,! 134
The Lord Walpole Thomas Amyot, Esq•
Sir Henry Jardine, Knt. Henry Browne, Escl•
John Stracey, Esq. &c. &c. &c.

DIRECTORS.
President—Anthony Hudson, Esq. ‘,C.i
Vice-President—Lieut.-General Sir Rdbert John lisrve;'Escl•
Charles Evans, Esq.,Chancel- Robt. J. Harvey Harvey,
lor of the Diocese of Norwich, I Henry S. Patteson, Esq'
Edward Stewart, Esq. John Wright, Esq.
Timothy Stewart, Esq. I Henry Browne, Esq.
George Durant, Esq. W. C. Hotson, Esq. etatf.
Slit SAMUEL BIGNOLD, M.P., Secr„cesr,
The Public are respectfully reminded, that all Insura of v`:
newable in the LIVERPOOL AGENCY on the 25th days
cember, 1855, must be paid at the Office, 8, Exchange-stre,eo el
on or before the 9th day of January next, or the SO 4
cease to be liable for the sums insured.
asig'
The Policies of this Company extend to cover losses
by EXPLOSION OF GAS, without extra charge of Prem.'
t -
This Society paid .W 74,766. Os. 4d. Duty to Government „
year 1854. „ ;tem
It INSURED, during the sante year, 42,178,386 Farrel"'
which is Free of Duty.
.fict is
In proof of the public approbation of the principles.ibst
duct of this Company, it natty be sufficient to eta"
Business now exceeds SIXTY MILLIONS. . .
f ROBERT N Ea.,s(P!.
AGE 1. JOHN fiNDEI

INDISPUTABILITY THE, ONLY cogrDP
SECURITY IN LIFE ASSURANCE.
(Extracted from " The Register.")
What is-meant by an indisputable policy? In the firsSllo,
is unlike other policies; the adjective being used to inner poitiPt
thing to mark and distinguish such a policy from all etios tpo;
des. In the second place, it means much-more—it in!Fp alas f
the policy to. which the epithet " Indisputable" is given era a
be disputed, except upon grounds beyond the reach and r,icy
the coutractin parties to control. In other words, the 9'
represented as being as indisputable as man can make !tat a;
Nothing can be more embarrassing than the situation ", or te.
who, after making. payments to an Insurance Conipan)ca esla
twelve, or twenty years, on the supposition that hY Sl;larirare
meats he has purchased for his family the absolute pr.owarriv`,
reversionary estate,. :a then told that at his death Gat
may receive such property, but that there is a great chance' ira,
sibility—amountingaaa probability, that they may. not ; 'r00;;
the contingency depends upon circumstances which has as toy
foresee. Yet such istbe position of those who areteld etatettli.
responsible for the precise and literal accuracy of caerY?„ 00,a
in numerous documentsaind schedules which precede ta`of S'.o(
of a policy. Take one of these schedules as an instance a5/80a,
ments, upon the accuracy of each of which the whole
io'Derl'j
the policy will ultimately be made to depend :—"l.4bareLhal
declare that my age does not exceed years ; that 1 not)
cow-pox or small-pox (state which); that I have (or licle„,.6tsat
the gout; that I have not been afflicted with any t 114,01
convulsions, nor with asthma, insanity, or spitting Wit
that I am not afflicted withhAitnal cough, diseases olac'ilerr"
nor with any other disease- or disorder tending to 8. „veto!
and that the foregoing proposal contains a true sP-'and tnpa
every matter and thing thereby required to be set f.rt'',Ye net %ft
I am now in good health ; and. I. do declare that I roYv sy
sealed or withheld any matterior circumstance touchiloi,ich
usually litre n's,"w"ith,
or present state of health, habits of life, or conditi°,n,,,sidot%c-
gwieveel declareint
render au insurance on my life more than
wwitalii.wtendic;hatull,ei
tititrencityoprarivo.ft,thi.,:tesore:iseat
and
dSbilfol7l ifyilliciet?e:".ol:lAetrtneadnc:lbtdeoot requisiteheetanhatdthts. inforinatia
hail be
declaratto" and I, r
aid society isaid A
if any true allegation or statement be the
s'
d fon,'
witted
or in this declaratioi Contained " contained inorma I_,Daltr
omitted which ought to be materli
moheYs rato
therein,.
shall have been or shall be paid to on accou
a the id socielY,
such, insurance, shall be foFfeited said
of the sa.
andthe policy be absolutely nun
-.to the use
nun,and void." be alnr-00'
NOw,.lOOking at the wording of this clause, it may 0p 6
without much exaggeration, that there is no human beingir,its con DO
earth who, looking on it as the literal condition of fits con
withal. company, can possess a certainty that the event. .d
rr
cleath,will place his family in possession of the sum spec
the-agreement. It is a professional notoriety that there !11-vel.•
piae.roua diseases which may be in active play long before oe'tril
istence is. suspected by the patient-or any one eise. Yet, liforf
contrivance of making the proposer.warrant the literal aCCO,4O
of numerous statements, the clause above quoted would /woe
and nullify the policy, if it could he proved that the invisibleot
hadaeommenced his ravages at the period when the instrtlgoo
war issued. The responsibility of the panty effecting thr_tencl
isnneouditiona', and wholly irrespective of leveeotrin,„,erf
whether, the" omission" of any faat,material or & a
wilfikon not. aa as era ac
woo.iere
The person who makes the statem thmat enS aaa oas
beratelYoe
that-he makes no wilful mid-atatementn „,„ not deli
ation re-
held any :natter or circumstance," and owe;.."il„ &ear, this
of design, bat that he has not douesoat au ,„a}aities he)On.,u_aisa
quiredis absolute as to circumstancesor Pe.nthily of the del
ve
sphere of. human Hoe;knowl and the resP°7etly May
rant is, &wally absolute, maer how inno
a sole and °was
been led into error. . a %owe - nia
All are uthorities are of the sante opinien a. A Eldon
dividponsibility of the assured, Thu5,14?..1)- heet!,,Nat
hear of-any diatinction as to whetheraincilniass'! °observs, re`a
tenet or. immaterial. " If material„" lds-Loraaoll?..., if there y,
a materiality may be-inquired into and shown ; „aca as
is
warrantyrit is part of the contract that the matter.eirs a,asioiata!
represented to be; therefore materiality or itomat own!
_Oll
nothing.. The only question is as to-the mere fact-u" &cw"
has been affirmed, to the total ruinottawilies,bal "J'
sad
sionsaaf the Courts. he net,
• close t h 0
It may perhaps be supposed that however arty w
narrow. the meshes which are eetwined rowel the
life-irathe subject of assurance—hewever minute ain"s7.oetto;
and, liable to error are the ye stringent cv,„ to 1040.
of law-are the terms of thedeclareion.he 801 i%
yet that by great care he may be able to. complY 161 Dot thljoilv
maind,.and. escape without a forfdlare of his ',Lacy. do of
cannot do t for there is aomethieg_ yet mare demand vanc'
before he- becomes entitled to a policy—a.requircrnenooos 004
the greatest amount of care, and pradenceaand scruP...a in etaa
raesaiaof no avail. The proposer must give the nIIM`„, ataii
cal attendants and two friends, each of whom returl'ealentsoto
to a. long list of questions, and. the facts aid sr not Pits 014
received by the company, although: the proposer atrajee eta
acqqainted with any one of them, are yet ea much the jopo_ip
warranty as his own declaration,. so that a wilful eolierees 710:0
error in answer to any of the queationa pat to these, ra tionl,t/rS
as- effectually vitiate the policy., as if laid precene ofa
assaredhiniself. We can make roonafor only one ess' isoleor
provisions just noticed, which we select from a largenwe 0 ,rB,O
similar cases, and from the praetic.e of a highly resPe,eLliaaar Pot
Wilshere v. The Law Life. Wilshere resided near an as tOse
ouseveral occasions had consulted.a.Laudou physicign„, 01.
health,, besideshaving the advice of a country gentleirn
came-to London to effect an aaauranca en hie life, and. dBO
to the question, " Who is your ordinary medical a!`o,
gave the wane and address of the London. physician, 1,69
report and that of their own.tnedical. examiner, the 6 aIW:O9
the company were satisfied.; Some years after that ,6,411,
died, and Ins executors were defeated a claim agains. :Ape
pany fur the sum assured„rnerely, and upon no Oin'hiSw
because the uame of the surgeon,. ami DAL that of the 1 v;f
ought to. have been inserted in the proposal. :Deeo#
In ciansequence of this state of matters,tbere arose inapi c", 011
mind a general feeling of insecurity in Life Assurance, Cv
rjtiF
increased by theperuard or numerous cases occurringis,- ,tasta
of law and reported in the newspapers, most of twa Ott,
Instance of assured parties,againat Life Companies, se
them in which Life Companies were arrayed against e4,:b-ie _„'tlo
remove reat desideratum, Was.to make policies indirp.,no-a;n1,00;
to all doubt, aapl.. dissipate every apprehension v
certainty of the sum assured being paid when it becaToill
whereby the public generally would be benefited, anatthe
of Life Assurance muck.extenated-
this or
" The Indisputable Life Policy Company" undert4olc --.,aea tag
and in order most effectually to. make the policies:WY Jaaieti
disputable and certain, documents of security,.they inAG;resllio
following clause in their Deed of Settlement, therebY
' an effective and lagai obligation, imperative upon the Cc 21.,,
fulfil, and which it is.the slat of every assuredmember w'
and insist upon 'hag;
Clause 84. " Thatevery Policy issued by the ComPANY,,,
indefensible and indisputable, and the fact.o). issaiqg and
shall be conclusive- evidence of the validity of the
shall not be lawful for the Company to delay Parnoeistakt,7,
money assured thereby on the ground of, any oprri ra° 11,
omission, however important, made by or on the en bi,.g itS
4 • •
son or persons.. effecting such Assurancit;. and ,a- akr
go ss-tl
teary, the amount so assured shalt be paid at - ',„;on, had
by the Policy, as if no such error, mistake, or olg"„- 01
made or discovered." f
We have Bahl that the above clause forms a p ftl art 0 the
ate',
Settlement of the Company, and that deed being reauk,
terms of the. Act 7 and 8 Vict. c. 110, there is nothing vrt a
give it the fullest effect. It is not merely to be founc.l,torY
specula er. other circular, which may or may not be ohlta` a co,:a-
the Company, according to circumstances, but it fora-1;00g
ponent part of the existence of the corporate body. A fp', 00;
raise of. Indisputability is not enough.. Such a clause a 15,40 01;11
is required to give legal efficacy. It appears to have 1708 a. pe
fully 'and anxiously prepared,. for the purpose of cuts or fie§
every grouod and pretext of dispute as to the valiul or ledOt
Policy ; and we confess that we cannot find any words, or 'al
of sentences more operative, effective, or compulsorroa, ttif
purpose. In order the more effectually to show aiitnoj
would invite onr readers, to compare this 'clause pas ,
law as laid down by Sergeant Marshall in theme 03,105,
already quoted from. that learned authority.
„.„,",,a- Way
putable clause says—' Every policy issued by the Con,' Of
be indefeasible and indisputable, and the fact of
shall be conclusive evidence of the validity of the
Sergeant Marshall, speaking of the clause ordinarily' or.
policies, says, "It is quite immaterial for what antrFaer'ted „
what view it Lit warrant] is wade ; but being once innnd ea oe
policy, it becomes a binding condition on the assure', '000d;
he can show that it has been complied with, he stable eat
benefit from the policy." In other words, indispa.: aarPA
when once. issued, declares that, delude?, all precede!' ay raw,
are held to have been finally settled, whereas an ordain:po.B)llu
declares on the face of it that the Directors retain tmv-e AC a!pili,r
keep all these questions open to dispute, until they 0,8 .01„,
paid the amount of the policy to the executors. Ags'intreg",4
putable clause says, "It shall not be lawful for the Cf t
delay payment of the money assured, on the ground oall,at,
mistake, or omission, however important, made by. 01,
of the person or persons effecting such insurance." of ,Val
Marshall, on the other hand, says, "'The very meaMoftoti;toP,
ranty is to preclude all question whether it has been, ss.j'as
complied with or not. Whether the thing warranteu,''aensve
or not, whether the breach of it proceeded frown train., is tlwaaVro
mit-information, or any other cause, the consequenee4 sp.oa
—i.e, the policy is void." In the next place, the ',or, r,
clause says that, "on the contrary, the amount so s-a,car,ree„
be paid at the time stipulated by the policy, as if 0°,.; 31
mistake, or omission, had been made or discovered• tract.4l,o
geant Marshall says, "The warranty makes the 0110 cO.frpt#
thetical ; tliat is, it shall be binding if the warrant 1 to‘ells,r,
with. The only question is, has the thing warranteuaa rot
or not? if not, the assurer is not answerable for taael„o
though it did not happen in consequence of the bretiF in P':110;es
'witty." Can anything be more conclusive than thlaaaPieri
the superiority of the Indisputable Policy? The ~oliqarai,
Policy settles all precedent questions—ad ordinary by 1 107.,b
them all unsettled. An Indisputable Policy declares,aultao ;
fact of its issue, that all questions relating to the 11F4
seage, &c., of the assured are, as far as the ComennY 1-these„al,
t' at rest for ever—an ordinary policy leaves a, Ats,o
open to dispute, until the claim has actually been "I,9;prd I
London Indisputable Life Policy Company, 72,1'0
—Manager, ALEXANDER ROBERTSON. .1

LIVERPOOL : Nay ptv
Printed and Published every TUESDAY 510K,,'' Off,rr
Proprietor, ROBERT PEARSON THACIi 00;00
Percy-street, at the STANDARD GENERA' Lifc—
OFFICE, No. 4, Sr. GEORGE'S CRESCENT'
Tuesday, December 25, 1835.