New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-07-17
INSURANCE IN ICELANn
AN INTERESTING DEVELOPMENT on,
SYSTEM AT AN EARLY PERIon

From Chambe SIS Journal.
! Centuries before the wise citizens o,r
recognized the value Of fire insurance ,bahcoa
listed a most interesting form Of il ana ex'
not in any Of the great commercial na,ia,tu G
the Middle Ages. but in a remote island Ivy
Atlantic-in Iceland This fact. remarrap ~ The
il is IN itself. Will not seem so surprsine
those who are acquainted with the ancien,s
dition Of that country. which has for ss' ~a,
hundred years played but a small mar, ara
European history. Its first cOlOnists. in ths "
OF the ninth and beginning Of the tenth eng eng
turtles. were among the most enterprsinn,e a.
Norways sons and for the next three . "
turtles their new home rivalled the mo,Sea
country in most respects. and far excelled IL !.
mental activity The old poetry Of Nmr@
died out about the year 1900 y D. and ,T
that date 50 long a there were skalds AZ va
court Of the Norwegian kings. they vera ~. '
landers. At the same time they were ca,a..
farmers. daring seamen and enterprsing r,aaa
ers. They traded regularly with all the nsat
boring countries, and thought little NJ SUI
overland Journey to COnstantinOple vhs az
many Of them served in the bodyguard Of ~
Byzantine Emperor. At home. next to n
necessary care Of their herds ard nccks ,ba
were above all devoted to poetry. history A.,
law TO be skilled in the latter was sure t,I
to respect at time when law books were stTi
unknown and codes were carried In the hs,a
Of the "Lawman' or declared by the Law.
speaker" at the meetings Of the Althinp \,
yearly assembly. In the thirteenth centuv
these laws Of use and wont came 10 be writs,
down. not officially. IL would seem. as han
pened in other countries. but by persons M
terested in legal studies. and they now urs
served in a collection commonly known "a Crs
gas or gray-goose "a name Of doubtful origin
which is used as general name for the laws y
Iceland prior 10 its union with Norway In lss
1t is in this collection OF laws that the inte,
esting item Of compensation for loss by sr
occurs. a section which is quoted by the edit.
Of an Icelandic journa! Of last year. In d,
first Of a series Of articles on the ancient civil
cation of Iceland The Editor DR.. Valtyr Gui
mundsson. il one Of the best authorities on III,
subject. and uses the quotation a tex, "a
point out to his coIntrymen the superior fo-.
sight Of their ancestors in this respect. Th
modern Iceander has not yet realized the yalu
Of insurance. as shown by the fact that Or
OF the foremost yeomen in the country had h,
farm burned down three times In successD,
without its being insured. II was otherwise
the old days. as DR.. Valtyr points out In d,
time OF the old republic. the golden age Of IL.
land every yeoman-f farmer was by law elr
PEELED 10 be a member Of a mutual Insurans
society The method by which cOmpensat,
for loss Of fire was made is thus explained
Ora gas. and is a striking proof Of the thr
oughly practical views Of the old lcelanders
There are three houses in every mans dive.
ing for which compensation may be obtained
event OF their being burned down In IL.
landic dwellings each room was separate bull
ing and so is called house, one is i.
women's sitting room. another the common 81,
ting-room. and the third a pantry where b.
women prepare the food II man has BOZ.
sitting room and a hail. then at the spring Is.
sernby he shall choose whether he will rah.
have the sitting room or the hall Insured Z
there is a church or chapel on any mans fan
then that is the fourth house liable for con.
pensation, where IL exists. III any 81 tss
houses aforementioned IS burned down. L.
owner shall summon five OF his neighbors. az.
get them TO estimate The damage that has b.
done They shall estimate the damage dl.
TO the house itself and also that done =
clothes and other valuables burned along vi.
1t; but only such clothes and valuabes as Il.
owner requires for daily use shall be reckOaa
for compensation. II church is burned. thsr
shall be reckoned along with il for compena. |
ton all the hangngs. the choir and the ~
bell that has been destroyed. If there Esr
more than one. and all the furniture reluis
for daily use: the same thing shall DE done
the case OF chapels.
When the damage had been valued by q
height ors as above provided. one half of " !
loss had 20 BE- borne By the yeoman hlms,t
and the other half was made good by all IA
other yeomcn in the district From each
these a certain amount was levied IN propn
ton % the value Of his property. ana II I'D
were not paid within specified time II COZ. &
be- seized by law. AZ the same time II sr I
provided that no one could Do called upon
paw as his share more than | per cent Of = \
whole property. ana II was not compulsory /
the same person FOR loss by " +
more than three times.