articles to be peculiarly susceptible of damage, will not consent to take that risk, except on some extraordinary occasion. A ship, laden with corn, makes a very stormy passage from the Baltic to London, and damages the whole of her cargo. Upon arrival off our coast she is stranded, but got off without straining or sustaining any damage. The insurer is held to be liable for the damage to the corn, under the clause of the policy. On another occasion, after a very favourable passage to our coast, a ship strikes upon a shoal, but is not stranded, sustaining, however, so much damage that she arrives at London with 6 feet water in her hold, and her cargo almost wholly spoiled. The insurer is held not to be liable under the clause of the policy. General Average. The insurer is bound to make good all general average without exception, however trifling the amount. General average is treated as though altogether unconnected with particular average; and damage to the goods not amounting to 3 per cent. is not payable by the insurer, although there may be also a general average, and the general and particular average together may amount to more than 3 or 5 per cent. General average is a charge which must be paid by the merchant and ship owner, even if uninsured; although, when insured, he transfers, as it were, in virtue of his insurance, the charge from himself to his insurer. All the elements that can by possibility enter into general average may be classed under four heads:-1. Sacrifice of part of the ship and stores; 2. Sacrifice of part of the cargo and freight; 3. Remuneration of services required for general preservation; 4. Expense of raising money to replace what has been sacrificed, and to remunerate services. 1. When any part of the ship is sacrificed for the general benefit, the owner is entitled to receive (deducting, of course, his share of contribution) the amount of his outlay in the replacing of such sacrifice; allowance being made, on the principle stated above, where old works and materials are replaced with new. The deduction of 1-3d, however, does not invariably apply. For instance, 1-6th only is taken off the price of an iron cable that is slipped from for the general benefit, because iron cables are calculated to last for a great number of years; and no deduction is ever made from the price of anchors. The charge of replacing the loss may amount to considerably more than the value lost, computing the value at the place where the ship was originally fitted. Thus, the cost of replacing an anchor and cable slipped from in the Downs, is frequently double the value of the anchor and cable at Isondon. But whatever the charge may be, such charge forms the basis of settlement. 2. Sacrifice of the cargo and freight takes place in jettison, or where part of the cargo is flung overboard to lighten the vessel. Upon arrival in port, after such jettison, the owner of the goods jettisoned is entitled to receive (deducting his share of contribution) what the goods would have produced nett to him. supposing them to have arrived sound; and the owner of the ship is entitled to receive (deducting his share of contribution) the freight to which he would have been entitled upon the safe delivery of the goods. 3. Remuneration of services and other charges. When a ship loses her anchors and cables, very large sums are frequently awarded to boatmen who venture off to her with new ones at the imminent hazard of their lives. A ship disabled at sea is towed into port by another, and remuneration for such service is awarded according to the value saved, the detention occasioned, and the loss sustained. The ship rendering the service may be laden with fish or fruit, that may be totally spoiled by the detention, or may be in ballast. A ship captured by the enemy may be re-captured by a man of war or armed merchant vessel; here, again, salvage is awarded according to the circumstances of the case. All these charges are general average; that is to say, must be distributed over ship, freight, and cargo. When a ship, with her cargo, is driven on shore, the expense of attempting to get her off is general average. If she cannot be got off without discharging, the expense of discharging is general average; but the expense of getting the ship off after her cargo has been taken out falls exclusively upon the ship. The warehousing of the cargo, and other expenses incurred for its preservation, are charges exclusively upon the cargo. The expense of reloading is borne by the freight. When a ship puts into port in distress, the pilotage inwards is general average; the pilotage outwards is a charge upon the freight. This distribution of charges has settled into a tolerably well established practice; and upon this principle claims are settled at the offices, and at Lloyd's. 4. The money required to meet the above charges is sometimes attainable without expense. If the accident happen near home, and the ship owner be respectable, he advances the money, and recovers from the various parties concerned so soon as the accounts can be made up: or if the accident happen in a foreign port, where the owner of the ship is well known, the captain's bill upon him will sometimes be received in payment of the charges incurred. But where such facilities do not exist, the captain is empowered to pledge his ship, freight, and cargo, as security to any one he may prevail upon to supply the necessary funds. This pledge is termed a bottomry bond. By it the captain admits the receipt of the money: consents to the payment of a premium (which varies with the distance of the port of destination, the risk of the voyage, the respectability of the owner, and the necessities of the captain); and assigns the ship, freight, and cargo, as security for the repayment of the money advanced and the stipulated premium. Should the captain consider the bottomry premium demanded of him exorbitant, or should he deem it preferable in other respects, he may sell a portion of the cargo for the purpose of raising such money as he may stand in need of towards the prosecution of his voyage. The expense of raising the requisite funds, whether by commission, by bottomry premium, or by loss on the sale of the cargo, is charged to those parties for whose interest the money is required. Thus, if a ship, having struck upon a rock, puts into port in distress, and is obliged to unload to repair; supposing the particular average upon the ship to amount to 500.; the general average, consisting of assistance into port and expense of unloading, 2001.; particular charges on freight, consisting of expense of reloading and pilotage outwards, 1007.; and particular charges on cargo, consisting of warehouse rent and repair of packages, 2001.; and the expense of raising money should be 20 per cent. :-these sums would be severally increased by this addition, and would be raised to 6001., 2401., 1207., and 2401.-(See BOTTOMRY.) It still remains to be inquired in what proportion the general average is to be paid by the different owners of the cargo, and the owner of ship and freight. Almost all general averages are adjusted at the ship's port of destination, and the values of the ship and cargo are taken at what they would produce in their actual state upon arrival, and the freight according to what is actually receivable, less the wages of the captain and crew; the general average being distributed in proportion to these values. Should the cargo be altogether worthless, it cannot be made to contribute; and should the wages of the crew exceed the freight, then the freight is not liable to contribute. In case of jettison, the party whose property has been sacrificed for the general benefit receives indemnity on the same principle; the value to which he is entitled being what his property would have produced nett, supposing it to have been sold on the arrival of the vessel-the same value serving for the basis of his proportion of contribution. Some few cases occur, where the general average is adjusted at the port of departure. Thus, if a ship, outward bound to the British colonies, cut from an anchor and cable in the Downs, or incur other general average on our own coast, the insurances being principally effected in this country, it is the custom to adjust it on the spot, by which means both delay and expense are avoided. On these occasions, the values at the port of shipment are taken as the basis of contribution. A total loss, subsequently to a general average, does not exonerate the insurer from his prior liability; and although it is customary with the ship owner, or his agent, specifically to in sure the money expended in average, for the purpose of protecting the insurer against any greater liability than 100 per cent., he is not absolutely obliged to do so. When the average funds are raised by bottomry, the party advancing them takes the ship, freight, and cargo, as security, and charges a premium to cover the risk of the ship's non-arrival at her port of destination. And thus, on such an occasion, a subsequent total loss relieves the insurer from all liability to average. The laws and customs by which averages are adjusted vary in different countries; but the insurer in this country is only liable for the averages adjusted according to our laws. The merchant, however, whose goods arrive at a foreign port, is obliged to submit to the laws of that port. He may thus be a considerable loser; paying general average according to one law, and receiving from his insurer according to another. And he never can be a gainer, because, before he is entitled to recover from his insurer, he must prove that he has paid to the owner of the ship. This is one of the many inconveniences to which mercantile men are exposed which cannot be removed without, what it may be hoped will gradually take place, an assimilation of the commercial laws of different countries. Proof of Loss.-The policy of insurance is the instrument under which the merchant and ship owner claim indemnification for all losses that are not specially excepted. The proof that the loss has been sustained must also be exhibited; such as the title to the vessel and cargo, and the evidence of the captain and crew to establish the circumstances out of which the claim arises. If A. were to insure his vessel for the space of 12 months, and at the expiration of 6 months were to sell his ship to B.; A.'s interest in the vessel having ceased, so also does his insurer's liability; and B., if he wish to be protected must make a new insurance. Proof of ownership, therefore, is an essential preliminary to the recovery of a claim. In general practice, no difficulty arises from this, because the fact of ownership is sufficiently notorious. The bill of lading is, in most cases, satisfactory proof that the cargo was on board, as well as of the amount of freight. Valued and open Policies.-If an insurance for 2,000l. be effected upon 100 hhds. of sugar, valued at 201. per hhd., the bill of lading, showing that the vessel had 100 hhds. on board, establishes the interest at 2,000, and the policy is termed a valued policy. But if an insurance for 2,000. be effected on 100 hhds. of sugar, and nothing be expressed as to value, the bill of lading only establishes that 100 hhds. are on board, without establishing the amount of interest. The production of the invoice, showing the cost of the goods, is necessary to that end, the policy being termed an open one. Return of Premium for short Interest.-In a valued policy, when the whole of the property insured does not appear to have been shipped, the difference between the quantity insured and the quantity shipped is termed short interest. Thus, if 2,0001. be insured upon 100 hhds. of sugar, valued at 201 per hhd., and 80 hhds. only be shipped; as the insurer's liability does not extend beyond 1,6007., so he is obliged to return the premium upon 400l. to which no risk attaches. This return of premium is called a return for short interest. For Over-Insurance.-In an open policy, where the value shipped is not equal to the value insured, the difference is termed over-insurance. If a merchant, A., make an insurance for 5,000l. upon goods, without specifying any value, from Calcutta to London, the premium being 60s. and the stamp duty 58. per cent., the amount of interest that attaches to the policy is so fixed, that he is neither to gain nor lose by the transaction in the event of the vessel's loss, supposing his insurance to be sufficient. To entitle him to recover a profit, the profit to be insured must be stipulated in the policy. The expense of insurance upon 1007. being 31. 5s., it is clear that every 1001. insurance covers 961. 15s. original cost; that is to say, protects the merchant from loss to that extent in case of the loss of the vessel. If, then, we assume the invoice of the goods shipped to be 40,000 rupees, or, at the exchange of 2s. per rupee, 4,000l., the interest attaching to the policy is ascertained as follows:-If 961. 15s. cost is insured by 1001. insurance, what will 4,000l. cost be insured by? Answer, 4,1351. Under such circumstances, although a policy exists for 5,000l., the insured is not able to prove interest for more than 4,1357.; and consequently, the insurer being entitled to recover no more than that sum in case of loss, the insurer is called upon to make a return of premium for over-insurance upon 8651. Although we have treated separately of returns for short interest and over-insurance, we should observe that these terms in practice are used indiscriminately; and, indeed, we cannot say that we perceive much advantage in making the distinction, or preserving the distinctive appellations. It sometimes happens that the property expected in a vessel is not all insured at one time or in one policy. But this makes no difference in the principle of settlement according to our law; although, according to the laws of most other countries, the policies take precedence of one another according to their dates, the whole short interest falling upon the policy or policies last effected. The foreign law, in this instance, appears to us the more equitable and reasonable of the two; and that our reason for thinking so may be intelligible, and thus gain assent or meet with refutation, we shall state a case of short interest upon a number of policies, such as not unfrequently appears. A merchant, A., orders his correspondent at Calcutta to ship for his account a quantity of sugar, not exceeding 1,000 tons, at a price not exceeding 201. per ton. In due time he receives a letter from his correspondent acknowledging the receipt of his order, and expressing confident hopes of being able to purchase the quantity, or the greater part of it, at the limits prescribed, and promising to advise as he proceeds. A., on receipt of this letter, say on the 1st of January, makes a provisional insurance for 5,000l. upon sugar valued at 201. per ton. Continuing without further advices, and fearing lest his correspondent's letter should have miscarried, and that he might have property afloat uninsured, on the 1st of February, 1st of March, and 1st of April, he effects similar insurances, thus covering the whole 1,000 tons. He subsequently receives advice that his correspoudent had not been able to purchase more than half the quantity ordered, at his limit, and he recovers from his insurers half the premium upon each policy. Now, it was not at all improbable that he might have received advice from his correspondent, as he expected, much sooner. And if he had received advice in the middle of February, of the shipment of 500 tons, and that the ship which contained them was totally lost in the river Hooghly, the insurers upon the two first policies would have been liable for a total loss. And it appears to us a defective arrangement, by which a party, who is at one time exposed to a total loss, should at another be compelled to return half his premium. It is true that the merchant may, if he please, insert in his policies a clause by which the policies shall be made to succeed one another; but we should say that the law, in insurance cases, as in the disposal of the property of deceased persons, ought to be the hest general disposition, leaving to individuals the right of modification according to particular cir cumstances. Return for Double Insurance.—Besides returns for short interest and over-insurance, there are returns for double insurance. They are, in fact, to all intents and purposes, the same thing. Double insurance exists where the party, through forgetfulness, makes an insurance upon his property twice over; or where the shippers and consignees of goods, when uncertain of one another's intentions, effect each an insurance upon them; or where the captain of a vessel in foreign parts, fearing lest his advices should not reach his owner, effects an insurance upon it, and the owner at the same time, acting with equal caution effects one also. The observations already made upon returns for short interest, and upon the difference between our laws and those of other countries, apply with equal force here. We have now gone over all the principal topics connected with marine insurance. Those who peruse this article with ordinary attention will, we hope, gain a tolerably clear insight into the principles and practice of the business. But a perfectly familiar acquaintance with it can only be acquired by those who are daily conversant with its details. Duty on Policies of Marine Insurance.-Amount and Expediency of such Duty.-All policies of marine insurance must be on stamped paper, the duties on which are as follows: For every 1001. insured on a voyage in the coasting trade of the kingdom, where the premium does not exceed 20s. per cent., Is. 3d. Where the premium does exceed 20s. per cent., 2s. 6d. For every 100. insured to or from any colonial or foreign port, where the premium does not exceed 15s. per cent., 1s. 3d. Where the premium does exceed 15s. per cent., but does not exceed 30s. per cent., 2s. 6d. Where the premium exceeds 30s. per cent., 5s. For every 1007. insured for a period of time not exceeding 3 months, 2s. 6d.; exceeding 3 months (no ship can be insured on one stamp for a longer period than 12 months), 58. This duty was reduced in the year 1833. It is now about two thirds of what it was before. The reduction, so far as it goes, must of course be beneficial. But the tax is altogether wrong in principle, and ought to be repealed altogether. Its obvious tendency is to discourage the coasting trade, by imposing a duty on goods carried by sea, from which those carried by land and canals are exempted; and we believe it will be found that this unjust preference costs more to the public in the greater carriage of goods sent, through its means, by the more expensive channel of inland conveyance, than all that portion of the duty which affects coasting vessels produces to the revenue. But the other portion of the tax, or that which affects vessels engaged in the foreign or colonial trade, is still more objectionable. It is iminaterial to a merchant sending a ship to sea, whether he insure her in London, Amsterdam, or Hamburgh; and as policies executed in the last two cities are either wholly exempted from duties, or subject to such only as are merely nominal, the effect of the duty is to transfer to the Continent a considerable part of the business of marine insurance, that would otherwise be transacted in London. It is plain, therefore, that this duty operates to drive a valuable branch of business from amongst us; and even though it had no such effect, still it is sufficiently clear that a tax on providence, or on the endeavour to guarantee the safety of property at sea, is not one that ought to exist in any country, and least of all in so commercial a country as England. Where the latitude given is so great, doubts will arise whether one stamp be adequate to cover a long voyage. And when difficulties are made to the settlement of a loss on such grounds, they are very prejudicial to the interests of the assured, and by no means creditable to the character of the underwriter. If the trifling revenue (amounting in 1832 to only 210,0001.) derived from these stamps cannot be spared, a very small addition to the import duties would more than cover its amount, save the expense of collection, and relieve the inercantile public from the annoyance and loss above alluded to.* Stamp £2. Form of a Policy of Insurance executed at Lloyd's. S. G. IN THE NAME OF GOD, Amen. Charles Brown and Co., as well in their own names as for and in the name and names of all and every other person or persons to whom the same doth, may, or shall appertain, in part or in all, doth make assurance, and cause themselves £800. and them and every of them, to be insured, lost or not lost, at and from St. Petersburgh to any port or ports in the United Kingdom, upon any kind of goods and merchandises, and also upon the body, tackle, apparel, ordnance, munition, artillery, boat, and other furniture of and in the good ship or vessel called the Swift, whereof is master, under God, for this present voyage, Bright, or whoever else shall go for master in the said ship, or by whatsoever other name or names the said ship, or the master thereof, is or shall be named or called; beginning the adventure upon the said goods and merchandises from the loading thereof on board the said ship upon the said ship, &c. and so shall continue and endure during her abode there, upon the said ship, &c. And further, until the said ship, with all her ordnance, tackle, apparel, &c. and goods and merchandises whatsoever, shall be arrived at her final port of discharge (as above), upon the said ship, &c., until she hath moored at anchor twenty-four hours in good safety; and upon the goods and merchandises, until the same be there discharged and safely landed. And it shall be lawful for the said ship, &c. in this voyage, to proceed and sail to, and touch and stay at any ports or places whatsoever, without prejudice to this insurance. The said ship, &c. goods and merchandises, &c. for so much as concerns the assured, by agreement between the assured and assurers in this policy, are and shall be valued at eight hundred pounds, being on the captain's one fourth share of said ship, said one fourth share valued at that sum. Touching the adventures and perils which we the assurers are contented to bear, and do take upon us in this voyage: they are of the seas, men-of-war, fire, enemies, pirates, rovers, thieves, jettisons, letters of mart and countermart, surprisals, takings at sea, arrests, restraints, and detainments of all kings, princes and people, of what nation, condition, or quality soever, barratry of the master and mariners, and of all other perils, losses, and misfortunes, that have or shall come to the hurt, detriment, or damage of the said goods and merchandises and ship, &c. or any part thereof; offences against the revenue of the United Kingdom of Great Britain or Ireland excepted. And, in case of any loss or misfortune, it shall be lawful for the assured, their factors, servants, and assignees, to sue, labour, and travel for, in, and about the defence, safeguard, and recovery of the said goods and merchandises and ship, &c. or any part thereof, without prejudice to this insurance; to the charges whereof we the assurers will contribute, each one according to the rate and quantity of his sum herein assured. And it is agreed by us, the insurers, that this writing, or policy of assurance, shall be of as much force and effect, as the surest writing or policy of assurance, heretofore made in Lombard Street, or in the Royal Exchange, or elsewhere in London. And so we the assurers are contented, and do hereby promise and bind ourselves, each one for his own part, our heirs, executors, and goods, to the assured, their executors, administrators, and assigns, for the true performance of the premises, confessing ourselves paid the consideration due unto us for this assurance by the assured, at and after the rate of five guineas per cent., to return one pound per cent. if the voyage end on the east coast of England. IN WITNESS Whereof, we, the assurers, have subscribed our names and sums assured ir London, N. B.-Corn, fish, salt, fruit, flour, and seeds, are warranted free from average, unless This very valuable article (on Marine Insurance) has been, as the reader will easily perceive, furnished by a gentleman thoroughly conversant with the principles and details of the business. 7 general, or the ship be stranded.-Sugar, tobacco, hemp, flax, hides, and skins, are warranted free from average under five pounds per cent.; and all other goods, also the ship and freight, are warranted free from average under three pounds per cent., unless general, or the ship be stranded. £500. Joseph White, Five hundred pounds, 1st of Sept. 1833. £300. Thomas Black by George Green, Three hundred pounds. 1st of Sept. 1833. Policy by the Indemnity Mutual Murine Assurance Company. WHEREAS William Grey hath represented to us whose hands and seals are hereunto sub£5,000. scribed and affixed, and who are two of the directors of the INDEMNITY MUTUAL MARINE ASSURANCE COMPANY, that he is interested in, or duly authorised as owner, agent, or otherwise, to make the assurance hereinafter mentioned and described, with the INDEMNITY MUTUAL MARINE ASSURANCE COMPANY, and hath covenanted or otherwise obliged himself to pay forthwith for the use of the said Company, at the office of the said Company, the sum of sixty-two pounds ten shillings as a premium or consideration, at and after the rate of twenty-five shillings per cent. for such assurance. NOW THIS POLICY OF ASSURANCE WITNESSETH, that in consideration of the premises and of the said sum of sixtytwo pounds ten shillings, We do, for ourselves and each of us, covenant and agree with the said William Grey, his executors, administrators, and assigns, that the capital stock and funds of the said Company shall, according to the provisions of the deed of settlement of the said Company, and the resolutions entered into at two extraordinary general courts of the said Company, held on the twenty-ninth day of August, and the twentieth day of September, one thousand eight hundred and twenty-seven, be subject and liable to pay and make good, and shall be applied to pay and make good all such losses and damages hereinafter expressed as may happen to the subject matter of this policy, and may attach to this policy in respect of the sun of five thousand pounds hereby assured, which assurance is hereby declared to be upon Stamp £6.5s. C 1/250. 250 hhds. of sugar valued at 2017. each, average payable upon each 10 hhds. following landing numbers, the same as if separately insured, laden or to be laden on board the ship or vessel called the Nelly, whereof Turner is at present master, or whoever shall go for master of the said ship or vessel, lost or not lost, at and from Grenada to London, including the risk of craft to and from the vessel, warranted to sail on or before the 1st of August, 1831. AND WE do covenant and agree, that the assurance aforesaid shall commence upon the said ship, at and from Grenada, and until she hath moored at anchor twenty-four hours in good safety; and upon the freight and goods or merchandise on board thereof, from the loading of the said goods or merchandise on board the said ship or vessel at London, and until the said goods or merchandise be discharged and safely landed at AND that it shall be lawful for the said ship or vessel to proceed and sail to, and touch, and stay at any ports or places whatsoever, in the course of her said voyage, for all necessary purposes, without prejudice to this assurance. AND touching the adventures and perils which the capital stock and funds of the said Company are made liable unto, or are intended to be made liable unto, by this assurance, they are, of the seas, men-of-war, fire, enemies, pirates, rovers, thieves, jettisons, letters of mart and countermart, surprisals, takings at sea, arrests, restraints, and detainments of all kings, princes, and people, of what nation, condition, or quality soever; barratry of the master and mariners, and of all other perils, losses, and misfortunes, that have or shall come to the hurt, detriment, or damage of the aforesaid subject matter of this assurance, or any part thereof. AND in case of any loss or misfortune, it shall be lawful to the assured, their factors, servants and assigns, to sue, labour, and travel for, in, and about the defence, safeguard, and recovery of the aforesaid subject matter of this assurance, or any part thereof, without prejudice to this assurance, the charges whereof the capital stock and funds of the said Company shall bear in proportion to the sum hereby assured. AND it is declared and agreed, that corn, fish, salt, fruit, flour, and seed, shall be and are warranted free from average unless general, or the ship be stranded; and that sugar, tobacco, hemp, flax, hides, and skins, shall be and are warranted free from average under five pounds per centum; that all other goods, also the ship and freight, shall be and are warranted free from average under three pounds per centum, unless general, or the ship be stranded. PROVIDED NEVERTHELESS, that the capital stock and funds of the said Company shall alone be liable, according to the provisions of the deed of settlement and the resolutions abovementioned, to answer and make good all claims and demands whatsoever, under or by virtue of this policy; and that no proprietor of the said Company, his or her heirs, executors, or administrators, shall be in anywise subject or liable to any claims or demands, nor be in anywise charged by reason of this policy beyond the amount of his or her share or shares in the capital stock of the said Company, it being one of the original or fundamental principles of the said Company, that the responsibility of the individual proprietors shall, in all cases, be limited to their respective shares in the said capital stock. IN WITNESS Whereof, WE have hereunto set our hands and seals in London, the tenth day of January, 1834. Insurance against fire is a contract of indemnity, by which the insurer, in consideration of a certain premium received by him, either in a gross sum or by annual payments, undertakes to indemnify the insured against all loss or damage he may sustain in his houses or other buildings, stock, goods, and merchandise, by fire, during a specified period. Insurances against fire are hardly ever made by individuals, but almost always by joint stock companies, of which there are several in all the considerable towns throughout the empire. Of these, the Sun, the Phoniz, the British, &c. insure at their own risk and for their own profit: but there are others, which are called contribution societies, in which every person insured becomes a member or proprietor, and participates in the profit or loss of the concern. The Hand in Hand, Westminster, &c. are of this description. The conditions on which the different offices insure are contained in their proposals, which are printed on the back of every policy; and it is in most instances expressly conditioned, that they undertake to pay the loss, not exceeding the sum insured, "according to the exact tenor of their printed proposals." Nothing can be recovered from the insurers, in the event of loss, unless the party insuring had an interest or property in the thing insured at the time when the insurance was effected, and when the loss happened. It often occurs that no one office will insure to the full amount required by an individual who has a large property; and in such a case the party, to cover his whole interest, is obliged to insure at different offices. But, in order to prevent the frauds that might be practised by insuring the full value in various offices, there is, in the proposals issued by all the companies, an article which declares, that persons insuring must give notice of any other insurance made elsewhere upon the same houses or goods, that the same may be specified and allowed by indorsement on the policy. in order that each office may bear its rateable proportion of any loss that may happen; and unless such notice be given of each insurance to the office where another insurance is made on the same effects, the Insurance made without such notice will be void. Any trustee, mortgagee, reversioner, factor, or agent, has sufficient interest in the goods under his Most of the offices except in their proposals against making good any loss occasioned by "inva- One of the principal conditions in the proposals has reference to the proof of loss. The Sun Fire Office-(see post), and most other offices, make it a condition, that the individual claiming shali "procure a certificate, under the hands of the minister and churchwardens, and some other respectable inhabitants of the parish or place, not concerned or interested in such loss, importing that they are well acquainted with the character and circumstances of the person or persons insured or claiming; and do know, or verily believe, that he, she, or they, really, and by misfortune, without any fraud or evil practice, have sustained by such fire the loss or damage, as his, her, or their loss, to the value therein mentioned." This condition has given rise to a great deal of discussion in the courts; but it has been finally decided, that the procuring of the certificate is a condition precedent to the payment of any loss, and that its being wrongfully refused will not excuse the want of it. The risk commences in general from the signing of the policy, unless there be some other time specified. Policies of insurance may be annual, or for a term of years at an annual premium; and it is usual for the office, by way of indulgence, to allow fifteen days after each year for the payment of the premium for the next year in succession; and provided the premium be paid within that time, the insured is considered as within the protection of the office. A policy of insurance is not in its nature assignable, nor can it be transferred without the express consent of the office. When, however, any person dies, his interest remains in his executors or administrators respectively, who succeed or become entitled to the property, provided such representatives respectively procure their right to be indorsed on the policy. (For further details, see Marshall on Insurance, book iv.; Park on Insurance, c. 23.) Insurances are generally divided into common, hazardous, and doubly hazardous. The distinguishing characteristics of these may be learned from the subjoined proposals of the Sun Fire Office. The charge for insuring property of the first description is now usually 1s. 6d. per cent., the second 2s. 6d., and the third 4s. 6d. These charges are exclusive of the duty payable to government, of 1s. on the policy, and 3s. per cent. on the sum in the policy. We subjoin a copy of a policy of insurance on a house valued at 1,0001., and furniture, plate, books, &c. in the same, valued also at 1,000l., executed by the Sun Fire Office, and of the proposals indorsed on the same. The latter correspond in most particulars with those issued by the other offices. No. 550 Street, has paid the sum of one pound ten shillings to the SoWHEREAS A. B. Esq. of No. ciety of the Sun Fire Office in London, and has agreed to pay or cause to be paid, to them, at their said office, the sum of one pound ten shillings on the 25th of December, 1833, and the like sum of one pound en shillings yearly on the 25th day of December during the continuance of this policy, for insurance from loss or damage by fire, on his now dwelling house only, situate as aforesaid, brick, one thousand pounds; household goods, wearing apparel, printed books, and plate therein only, one thousand pounds. "NOW KNOW YE, That, from the date of these presents, and so long as the said A. B. shall duly pay, or cause to be paid, the said sum of one pound ten shillings at the times and place aforesaid; and the trustees or acting members of the said Society, for the time being, shall agree to accept the same; the stock and fund of the said Society shall be subject and liable to pay to the said A. B., his executors, administrators, and assigns, all such his damage and loss which he, the said A. B., shall suffer by fire, not exceeding upon each head of insurance, the sum or sums above-mentioned, amounting in the whole to no more than two thousand pounds, according to the exact tenor of their printed proposals, indorsed on this policy, and of an act of parliament, on the 55th of George the Third, for charging a duty on persons whose property shall be insured against loss by fire. IN WITNESS whereof, we (three of the trustees or acting members for the said Society) have hereunto set our hands and seals, the 24th day of December, 1833. C. D. (L. s.) Signed and sealed (being stamped E. F. (L. 8.) according to act of parliament) G. H. (L. S.) J. K. "N. B.-The interest in this policy may be transferred by indorsement, made and entered at the office, if the trustees or acting members approve thereof, but not otherwise." VOL. II.-H |