That property needs more protection than it now has is evident from the fact that the Insurance Companies are increasing their charges.
The last Annual Report of the Royal Insurance Company, as published in the “Daily Telegraph,” says:—
“The fire losses have amounted to £318,946, or nearly 77 per cent. on the premiums received. This is beyond the legitimate percentage, though less than the amount anticipated at one period of the year; and 10 per cent. less than the average ratio of loss recently announced authoritatively as falling upon three other well-known and highly respectable establishments of larger revenue during the year 1865. This combined experience affords, together with the still more disastrous results of some other companies, undeniable evidence that the premium charged upon fire insurance is at present unremunerative. This fact has, however, formed so universal a theme of regretful comment at recent meetings of fire offices, that the Directors content themselves with assuring the Shareholders that they are prepared for a re-arrangement of rates.”
See also the Speech of the Chairman of the Queen Insurance Company, at the last Ordinary General Meeting of Shareholders, as given in “Gore’s General Advertiser.”
“Although the business of the Company up to the end of the year had been satisfactory, and had yielded a fair profit, the fire department had been of an unsatisfactory character, their average losses having reached 82½ per cent., which precluded the possibility of dividing anything whatever. He alluded also to the necessity of raising the premium as a general measure. (Sensation.) The Directors had run no risks which they ought not to run, they had gone into no field which their neighbours had not entered into before them, and they had taken every precaution; but fires were so perpetually happening on all sides that he saw no chance of making money.”
We submit that the true remedy for this grave state of things is our Internal System of Defence, which comprises Prevention, Detection, Extinction, and Escape. Very few fires can become formidable where it is established. It reduces the risks of Insurance Companies, to a minimum, by providing honest insurers, with the most effectual safeguard, and lessening as much as possible the chances of fraud. Prices and particulars on application to the undersigned, at the Companys’ offices, 551, Oxford Street, London. W.
JOHN SCOTT, Manager.
RALPH PAIN,
Watch and Clock Maker, Jeweller,
&c., &c.,
89, WESTBOURNE GROVE, BAYSWATER.
OPPOSITE THE LONDON AND COUNTY BANK.
R. P. most respectfully invites an inspection of his well-selected Stock of CLOCKS, GOLD and SILVER WATCHES, GOLD CHAINS, and JEWELLERY, and assures those who may favour him with a visit, that they will find his Prices fully Fifteen per cent. below other Houses.