The Massachusetts spy. [volume] (Worcester [Mass.]) 1821-1823, 1821-11-14
Fire Insurance.
FgVHE PRESIDENT and Dr..

VIE RESI- DENT ana d.
y REcToRs Of the MER CHANTS INSU-
RANCE COMPANY hereby give notice, that
their Capital Stock is s 100000, and is invest
ed in the manner prescribed in their Act of IN
corporation THAT they receive proposals and
make Insurance at their Office, in State-strcei.
on the corner OF Exchange-stFeet, TO an amount
not exceeding 10000 on risk, on Duclline-,
Houses, Stores and other buildings: on Furni-
tefrer Merchandise, Vesseis, CargOes. and other
property erposed 10 loss Gy FIRE Buildings
mortgaged as collateral security may be insur-
ed making the loss payable to the morgager
or mortgagee, as may be agreed by the parties.
Goods pledged or hypetheeated, property held
IN trust, goods consigned for sale whereon adj
vances have been made or responsibilities in
CURED, and any contingent OF qualified inter-
ests m property or buildings, may be insured
for the ultimate benefit of the real party in in
terest, making the loss payable to the owner
or others, as may be agreed. Insurance may
be made for any term of time agreed on. No
particular form is necessary in making proposals
for insurance; but when the premises are not
known at the Office, it is'useful to accompany
the proposal with plan of the buildings to be
insured, and OF such other buildings as materi-
ally affect the risk upon it. 1t is not neeessa-
ry that the plan should be graduated with
mathematical precision; such as may be drawn
from memory is generally sufficient.
Insurance may be made on specifick articles.
OF on property generally described, as Stock an
Trade, Furniture, Machinery, Tools, &c. and
may be valued or not. In case of loss NV frc.
the Company pay all losses, hewevcr small.and
do not make an average of the loss, as in ma
rine insurance, but pay the whole amount
proved to have been sustained, not exceeding
the sum insured. Under this arrangement the
Company do not participate in the salvage I'M
til after the whole amount of property unin-
sured has been saved for the owner No spe-
chick kind OF evidence is required to prove a
loss, but 1t IS expected that reasonable proof
according to the nature of the case will be pro-
duced. BY their policies the Company engage
es to refer to arbitrators, when the parties cam
not agree, and when this is not satisfactory. the
claimant has his legal remedy and may attach
property, If that should be thought necessary.
The safest class of Brick Buildings in Boston.
are insured at one quarter per cent. per annu,,s
and the safest class of Woodey, Buildings.
standing alone, and not liable to be burned nv
any other, are insured at one half per cent. pcr
dnaun1. Buildings occupied for hazardous
purposes or connected with other BUILDINGS 90
as to be liable TO be burned by them. are
charged with proportonably higher premiums.
The policies of this Company do not contain
any list of hazardous trades or articles which
shall render the contract void; but a true rep
rescntation being made, the premium is gradl-
ated according to the risk.
The premium is paid on receipt of the Poll
cy, and the loss is payable in thirty DAYS after
proof. Both are payable in Boston money. or
its equivalent. On the safest class Of Buildings.
it will be perceived, that it requires four hun
bred years premium on any given sum insured.
to pay total loss. and the changes of partial
loss may be computed at nearly half the risk
OF total loss. This also, as well as the expense
consequent on the,conducting of the business,
together with reasonable allowance for the
hazard of losing the capital of 4 3O0,OOe, are
all to be covered by the premium. 1t is pre-
sumed, therefore, that il would be for the in
terest of the owners of property to be insured,
1t, on fair calculation, such building would
be burned oftener than once in sir or sere,, CEN
tuwses, especially If the relief from anxiety.
and other Incidental advantages resulting from
being insured be taken into the account.
They also give notice, that they, continue
to make Insurance on Marine risks. against
the usual perils, as expressed in their policies,
on any direct or qualified interest in Ships,
Cargoes, or Freghts--the nature Of the inter,
est to be insured being made known.--for any
voyage or term Of time.
Per order,
MOSES l.. HALE, See'ry.
Roffoy Ony II 1901