The Sun.
London, England, 1850-09-12 00:00:00

Obitrtirtit -11 U
czo.,
LONDON, THURSDAY. SEPTEMBER 12, 1850.

The incalculable advantages afforded by the prin-
ciples of " insurance" to the community in general
are at length beginning to be appreciated. Various
contingencies that might defeat the most sagacious
projects, and baffle the most auspicious undertakings,
can now be provided for at a moderate, and, what is
even more important, an easily ascertained expendi-
ture. Dangers which in " the good old times "
would be encountered every day, which in a moment
might reduce families feom the enjoyment of every
comfort that affluence could afford to the deepest
poverty and destitution, may now be guarded against,
if not with absolute certainty, at least with the clos-
est approximation thereto. The merchant no longer
shudders at the howling storm which may overwhelm
his ship or cargo. lie is fully secured by solvent un-
derwriters against all the dangers of the sea. The
premium is added to the first cost of his merchan-
dise, and fairly charged against the consumers. A
destructive conflagration may level to the eartn
the dwelling-houses of many industrious families,
with their contents; the parties themselves would be
utterly crushed by the calamity, were it not that the
Genius of Insurance stands their friend, and causes
new and more commodious buildings to rise phceaix
like from the smouldering ashes, amply stored with
every convenience. But how can this be achieved ?
How are the damages averted that in isolated cases
would prove absolutely ruinous ? The risk is fairly
averaged, the loss in place of falling on an individual is
spread over many—what would be fatal to one is un-
heeded by " the many," who, out of their prosperity,
shield their less fortunate neighbour from the unto-
ward results of the casualty under which he might
otherwise suffer severely. Every contributor to an
insurance fund of almost any description, al-
though he may not receive any direct re-
turn, will at least have this consolation, that his
money has not been wasted or thrown away, but that
it has been applied to alleviating the misfortunes of
others. We say has been applied, for the calculations
of the risks have been so closely and accurately made,
the average of uncertainties have been fairly measured,
that those who undertake the risks do not receive
more than a fair and reasonable return for the amount
of capital invested, the premiums received being dis-
tributed among the various sufferers.
We have hitherto not alluded to the most valuable of
all species of insurance, by which families are pro-
tected from the fearful consequences resulting from
the death of the husband and father, to w h ,se exer-
tions they are indebted, not merely fur the comforts
and luxuries, but even for the common necessaries of
life. While he is spared he can watch over their
welfare, but their happiness rests on a precarious
tenure. He may be removed, not by slow and wasting
disease, but by a sudden accident that cuts off the
guardian and provider in the lull vigour of health and
strength, in the pride and bloom of youth. These are
cases that cannot be adequately provided for by the
ordinary class of life insurances, for the largeness of
the premiums necessarily required (and which every
man should pay as far as his means will allow) pre-
vents him from insuring a very large sum. It may be
sufficient to place his wife and children beyond the
reach of absolute want, but not to continue the
luxuries to which they bad been accustomed during
his lifetime. Something more is required to guard
against the more obvious dangers to which he is ex-
posed, and also, which no life insurance company now
extends to, to give remuneration for any personal in-
jury which he may sustain, and which might debar
hurl from pursuing his ordinary occupations fur some
time. This hiatus has, however, been supplied by a
company, which has just completed the first year of
its existence with almost unparalleled success, which
has prospered itself, while affording vast relief to
others, who, but for its beneficial operation, might
have been involved in mist unple,sant difficulties.

The promoters and origin‘ttors of the " Railway
Accident A,surance Company" deserved the marked
thar.ks of the community f .1- the energy and judg-
ment displayed in filling the void, in providing the
much. rt quired desideratum. Every one acknow-
ledged the importance of being guaranteed against
tne peo.uniary consequences of any severe accident
daring the railway journeys that must so frequently
be undertaken, but there were great difficulties to be
encountered before the preliminary steps could be
taken, which required no ordinary energy and de-
termination to overcome. One of the chief impediments
was occasioned by the stamp laws. It was a new case,
and to render matters safe, stamps had to be placed
on the policies of equal amount to those on
life insurances. This was a practical prohibition to any
transaction for single journeys, or short periods, and