The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-15
INSURANCE ON ROYALTY
Effort of British TradespeOpIe to
Guard Against Business Loss.

New York Post.
Advices received in this city state that
foreign underwriters are doing thriving
business in writing insurance on King Ed
wards life during coronation year. The
risk is perfectly legitimate, as thousands
of merchants have laid in enormous stocks
of goods in expectation of the greatest as
semblage of visitors that London has seen
in years. Should the King die in the mean
time, or while the ceremonies were in prog
ress, many dealers would be financially
ruined To protect themselves against such
a contingency, they apply for policies in
Identifying them against loss. The demand
is unknown in this country, except for
policies occasionally taken out abroad on
the lives of great bankers, or others con-
nected with the success of some special en-
terprise. In such cases no medical exami-
nation is required, and the insurable in
terest refers solely to a remote contin-
gency which is proper to provide for where
the gambling feature is excluded.
1t will be remembered that large sums
were paid out by the underwriters at the
death of the late Queen Victoria In that
case the benehciaries were persons who
had never seen her, but who had become
involved in business ventures which might
have been crippled by the excitement at
tending her death. These policies aggre-
gated thousands of pounds sterling, and no
ruptcy. The present demand is, in all re-
spects, similar, except that the rates
charged for insuring the King have ad-
vanced enormously within a few months.
This has resulted from the reports circu-
lated respecting the Kings health, which
however untrue, have given rise to the un-
easinesS which underwriters are quick to
take advantage of in demanding higher
premiums. The insurance proposition as
defined by risks written al Lloyds London
is so different from the ordinary life con-
ia mi n a1arx r-rit
that no United States company could be
prevailed upon TO expose its capital to
such a venture without medical examina-
ton. But with the organization of ''one-
man trusts or great enterprises associated
in the public mind with the career of a
single individual, it is not unlikely that
such insurance as is now being placed on
the Kings life may be written in this coun-
try before long.
Referring to the demand for insurance on
King Edwards life, a foreign underwater
said: ION the life of the King underwriters
at Lloyds, London, stand committed to in
surance amounting to e25O.OO0 TO cover the
period of his coronation. Since his Access
sion, his Majestys life has been steadily
insured by tradespeOple and others who
would suffer financial ruin in the event of
the royal demise prior TO the coronation
At first five guineas per cent per annum
was asked at Lloyds. Then, as the corona
ton came nearer, more tradeSmen insured
and on reports of the Kings illness being
spread. the price rose to six. ten. fifteen
and finally twenty guineas per cent for a
period covering the coronation ceremonies
The price is high. but IL is due to the great
rush of tradespeople who have laid i'm inn
mense stocks of valuable goods for 'coro-
nation year. and who wish to cover them
selves against any and every possible loss.
There is little or no gambling on his
Majesty's life. BY gambling / mean in
surance by spectators who have no real
stake in the coronation. and who stand to
lose the amount of their premiums only
Queen Alexandra's life IS not quoted and
no business is being done in it