Prize Essay the Economical Aspect of Fire And Life Insurance At the Present Da
Prize Essay the Economical Aspect of Fire And Life Insurance At the Present Da
James Gemmell
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The continuous progress of Fire Insurance is, it may, however, be concluded, in 110 danger of being arrested by a ruthless waste of the public money. As an Institution it is independent of any section of the public. Born of necessity, quickened into life by the calamity of the nation, cradled in the commercial Metropolis of the world, its growth will continue with the advance of civiliza- tion and the material interests of the community. The history of Life Insurance in this country also dates ...from the end of the seventeenth century. It is supposed by some that the idea of Insurance on human life was borrowed from ' the Marine Insurance system, as it appears to have been usual 245 at that time to underwrite lives after the manner of Marine Insurance. The development of Life Assurance has riot been so regular, or so rapid, as that of Fire Insurance, by reason of the abuses which originated in its practice, the length of time required for the proper working out of a difficult science, and the charge of immor- ality persistently advanced against it by the clergy and others.
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