Clarksville chronicle. (Clarksville, Tenn.) 186?-1872, 1868-12-11
INSURANCE BUSINESS |

|y n. ~ rllI- pN sa4rufllf {.
IN the days when insurance was
unknowns evcry man had to beur tho
whole Of his own losses BY firs or
shipwrcck. Ii he was poor, and his
case appealed especially to,the SYM
pathies OF his friends, d coutribution
might be made on his behalf to re-
place some portion Of Whist had boon
taken from him but this vas moth
ing which be could certainly count
upon. Like Shakespeares Merchant
Of Venice, all of his fortune might
be swept awuy, and he rendered pen
niless III a single night. This hap
pens even now, often, to those who
are improvideht enough not to insure
their property, The hard earnings
ID years vanish before the flames or
the waves and slcsyc their former
possessors to begin life anew.
'a,insarance'is'a device whereby tho
effeets,of such, calanities, instead of
being concentrated upon single mat
yidusIs, hire diyidad iap amopg many,
and the burden thus borho by each
is comparatively light. Ip its print
tive forps, il, is an agreement between
say a hundred men, that they will
all equally contribute to. make good
the losses of any one OF the number.
If merchandise, ships or buildings
belonging to que are destroyed, each
of the other ninety nine pays his one.
hundfodth part Of their value, and
thus the particular owner receives
from his associates ,ninety-nine one
\ hundredths Of his whole loss. The
4 hundrcdth part of the amount, which
he and all the rest pay,-is called a
PREMIUM. Its the price Of right
ITO demand from others a 'contribu-
tienlto replace thspfepsfsy destroy
! ed :nSead Ct Rscies sbIsssdontsppon
4 III practice, indeed, no such formal
FSgieenlentih msitlea I Fort thc sake OF
econonls- aud convenience, the bust
ness Of insurance is carried on by
special class of men, or, Companies of
men, who collect from each one of
ltbe insured b;s nrcminp,. Il o,,v,nc.
and ont of the total tbns collectsI
Ipay to the 1users the sans to which
thew are respectively entitled ism
.Ially the men or comnsiiicsI I; = N.
amount Of the nrcm;u;,mo,s AZ suob
! rutes a hev tbiof win ma In tho
! losses likclyeto seerae, and leavs them
trorhlN ,Jf.shss eai,.,ll q ss0sAt i,
! this rosrect, ord no ,nmsual Ios.ss
] occur. ihey make money II. thev
J. miscalculatc. and unernscted ,o..s,
] haze Ito,be, borne thev( Lssc EFor tho
safety of the insured in this latter
+, CONTINGENCY 4 find Il usually nrov;.
Odd. called n Tco d; tai. Eout. of with
! llosscs can be maid n ncccssorv Rut
as General lthine III sS,S,,,,t of the
premiun,s ,n.nst equal Or exosoa Tho
am,onunf n tNo iossrs Anal M NAL
: or the hnsIncssz mist xtona
There Is an imnression nrovalent
Ian,ono sorc wbo.h.,1,, ,,ot 4 hs,.o,r,.
Iacouainted with tho fs,4s connected
Istwith the subject that ihSurnncc l. n
,. extremely profitable business pnd IN, 1
II the CON. panies engaged in Il receive
! a vast desf more money initbc shane
of premiums thar they nav ont fnr
:" losses. Statistics. however demon.
stratc that this idea h nm ;ncorrec,
= ono. In the three wears. 1904 1890
: and 1861 the fire and marine com.
ipanies of this State received in pre-.
niums Sil0sz20.O0O, while, thew Maid
out, for ylosscs aud exncnscs. sill
t526 000.A That's TIC arc r. cntr isrr,.
lance business Cor. three veafsJ of. Nh
those engaged in Il IN this State re.
suited in loss of $500 400 SOM
! of the companies h. no suro mai,
4 money hut a,he,. Lad ~ rntT. 49,,
their capitals 'onfitb uuI,lic oSt,,aIlv
loa;ncd s90f, 6l( ~ tha;r oxnonl
!, These cons;lor,t;ons sbaw ,L., .
great deal of sk;N and knovleIoc i
rcuisse 4, soli,n,,,ay. ,L1 E,s,,f.,,c o
business "a 10 mali no n,ou,;nm.
ieoyo,s tho Losses and =, ,,sasS. N I,s,e
(ful cst;nstcs of tba fr;sL II xmh
q each particle flpropertv ;usured !.
y exposcd. ana Of tie l;kcl,hood 1of 10
II being DESTROYED must bc made All
!, = the cireumstsnces und,y wh;ch ,cc;.
7. dents oeeur must ho- ohseyveI a.d
ri studied. and infercuocs drawn from,
% them. Tho aver,cc og lesses in mar
% tiealar kinds aim l;6e.sm,s, ho no