Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1861-01-12
CIVIL WAR AND LIFE INSURANCE.

Rebellion and civil war bring up many grave and i'm
pOrtan. questions of financial character the full bear
ing OF which We incline to think the South Carolina
insurgents have not taken time 10 consider, aud one OF
these is tue extent to which life insurance policies will
be vitated We have been at the pains 10 ascertain
some facts in connection with this subject which it
NAV be wci to direct public attention.
IL is probably generally kuoWn that Southern risks
have never been favorite with life Insurance compa
rics Oxins 10 the greater hazards general aud ,p
demic diseases 10 which residents of climates
exposed higher rates have invariably been charged upon
polici issued 10 such rcsdents Even at advanced
rates the o Southern lives have not yielded
usyer.cc profit The io!oXiag experience taken from
he Gctnafie, report of OF the fist t INSURANCE.
companies ci Ne. OK may serve 10 Illustrate ihs pO-
sitjog.
The estmat, number of death! for period OF liteen
YEAR among all assured residents OF the New Eaglaud
and Middle States fraction over G.3; the actual
aunb.r was 40 The estimated loss in the class
s,s 81 llS g16the Actull loss was Ou7 $7S2, ,OO5.-
Among residents of the South Atlantic ana Cult States
assured in this company the number OF deaths for the
same lime estimated at frac ion over S5-the ac-
tus number WAS 90 The estimated loss in this class
Sl22 IS0tho actual loss $@l0 500 In the New Eng
land and Middle States the actual loss scarcely 20
cent. of the estimate. Ia the Southern Atlantic and
Gull States, il i$7 per cent.
Though di.courged by this apparent excess Of NOR
tllty in the Southern States the several Life Insurance
Companies OF the North have become contugeuty liable
.
the South.
In the even. Of a civil war; there will be four CLASSES
of assured persons in the Southern States soldiers OF
he United Sta army stationed their several post;
.eoessousts, union partiznS ard slaves Policies Of
life Insurance contain provision in this form: "Pro-
yidei that the said - ----- shall, withOu, the cor
sent Of this company engage in any extra hazardous
occupation shall without such previous consent enter
into any military seryice whatsoever the militia not in
active service cxccp,ed or in he shall die by tn
ards of justice the violation OF any Sat- national
or provincial law this policy shall be null and void"
Nilt,ry men are assured ouly against the ordinary
risks OF soldiers life dui state o. But SOL
ler has natural right upon the defensive against
an attacking mob and it is the opinion of high legal
authority in this city, that if be persisted in thus acting
uoon 1.-THE defensive his policy of insurance would be
binding upOu the company Issuing It, The case Of Capt
Seymour row at Fort Sumter, Charleston, Who holds
policy from the New York Life Insurance Company,
instanced AS a case of this character
The off i,rrs of the several companies, though geGer-
ally doubling the strict legality of such claims dis
posed TO inset them the grouad Of patriotism and
honor The seceSsioniss by actirg against the Federal
Government at once yitiGe their claims and the patri
otc citizens of the South in 10 better position
less acting strictly the defensive. The insurance
slaves would seem 20 be forfeited in any event for n the
uttcr chaos that would Oyerwhem the Southern States
in the event OF civil contest claim for hieinsurance
upon such policies could probably be collected IL is
safe therefore suppose that the first blast Of actual
war between the South aud the Federal government
would sweep away nearly $l2, 1000 Of Southern caI
tal
There is a ference in the provisions Of the lces
of American lie insurance companies aud British
panies In the former the insured forfeit the policy n
consequence OF treason 20 for making upon the
United States The British policy is conditioned that
the person insured shall not enter into any military or
naval service whatever without special cerS, from the
company; aud that doing shall make the insurance
void and work the forfeiture of ali the premiums paid
~. Y Commercial