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"Nauticus" Volume 6; A Journal of Shipping, Insurance, Investments and Engineering

"Nauticus" Volume 6; A Journal of Shipping, Insurance, Investments and Engineering


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About the Book

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 Excerpt: ...OF PENNSYLVANIA Liberty Marine Insurance Company OF NEW YORK North Atlantic Insurance Company OF NEW YORK Norwegian Atlas Insurance Company OF CHRISTIANIA, NORWAY 56 BEAVER STREET NEW YORK Telephone 7230-3 Breed part of the English underwriters to do the gracious act and arrange with the new American group to take over a portion of the insurance, instead of beginning a war which is sure to prove costly to both sides. A writer in a London contemporary says that "the Pacific Coast is miles ahead of New York in the matter of hull insurance." So it is. In San Francisco they have an Underwriters' Committee which passes on all adjustments before they are engrossed and there is therefore no ground for squabbles over average statements after they are issued. What is more, the business of average adjusting is not used as a trailer for the brokerage business of the adjuster, to the detriment of sound underwriting. The conduct of hull underwriting in the New York market today, from the time of the broker passing his application to the apportionment of average, is a scandal and a disgrace. Unless the Augean stables of marine underwriting are cleaned by some still undiscovered Hercules, American hull insurance will sink back to what it was in 1913, unless in the meantime the Government takes a hand and ruins the business for everybody. In its memorandum to Congress, the Association of Marine Underwriters of the United States suggested that taxes on premiums should be abolished and a tax on net profits substituted, thereby placing American marine insurance business on an equal basis with its foreign competitors; or, alternatively, an equalizing tax on marine insurance placed in a foreign market, adequate to cover the difference between the American rate and the...


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Product Details
  • ISBN-13: 9781130574272
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 216
  • Spine Width: 12 mm
  • Width: 189 mm
  • ISBN-10: 113057427X
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 395 gr


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