VII. All insurances beyond the bills of mortality pay 3s. to the surveyor for his charges, &c.
VIII. Every member to have a policy under the hands and seals of three of the trustees, and the society’s mark (being a double Hand-in-Hand) affix’d upon his house, &c. The insurance to be good from the time the charge is paid, and the deed of settlement subscribed by the person insuring. The policy, on expiration (after accounting for the deposit-money and mean profits) to be returned to the Office, as also the mark.
IX. So much of the deposit-money is to be returned at the expiration of the policy, as has not been applied to the making good of losses, and the payment of necessary charges, together with a proportionable dividend of profits. And beyond the deposit, no one to be answerable for above 10s. per cent. on brick, and proportionably for part brick and timber, to any one loss.
X. Every member transferring his policy, and the executors or administrators of every member dying, shall within three months at farthest, give notice thereof to the directors or their clerk, and bring the policy to the office, to have such transfer, or death, indorsed, and enter’d in the books, and in default thereof the benefit of the insurance to be lost. Every of which indorsements to be sign’d by two trustees at least, and 6d. for every 100l. on each removal insured to be paid for the same. Provided, that if the directors do not allow of such executor, administrator or assignee to be a member, or do not admit of any such indorsement of any such transfer, or death, (all questions thereabouts to be decided by balloting) then such executor, administrator or assignee, or person, shall only have what shall be due to their respective policies, and all farther demands on the said policies shall henceforth cease, any forfeitures or disabilities incurred by the breach of this article, where no loss has happened, may be relieved by the directors, if from the nature and circumstances of the case they think it reasonable.
XI. Any members of this society removing their goods from the places where they were assured, shall have no benefit of such assurance, or be paid for any loss that may happen, till such removal be allowed by the directors for the time being; and if notice be not given of such removal within three kalendar months after the time of such removal, the policy to be void.
XII. The insurance of any goods, &c. in this society, which shall be insured in any other office at the same time, to be void: And yet such insurer shall be liable to his covenants. Nevertheless a liberty is given to insure in any other office, so as such other insurance is indorsed on this society’s policy, and subscribed by two of the trustees, for which 6d. per cent. is to be paid; and in which case a proportionable part of any loss is to be paid by this society.
XIII. All members sustaining any loss, shall give immediate notice of it to the directors, or clerk, in order to a view, and shall make out their loss by the oaths on affirmations of themselves, or by their domesticks or servants, or by their books or vouchers, or the Certificates of the minister, churchwardens, constables, or other neighbouring inhabitants, not concern’d in such loss, or by such other method as the directors shall reasonably require; and in case of fraud or perjury, such pretended sufferers to lose all benefits of the insurance. In case of any violent suspicion of fraud or clandestine practices, (though the same for want of evidence may not be fully proved) it shall be lawful for the directors to declare such member’s policy void, and exclude him the society; and he is never afterwards to be capable of insuring in this office. All questions relating thereunto to be decided among the directors by balloting.
XIV. The directors, shall on all alarms of fire meet together at their office to determine upon the methods most conducive to the safety of the office, and service of the public.
XV. The directors with all convenient expedition, after any loss, shall settle a rate of contribution, and set it up in the office, and publish it in the Gazette, and otherwise as they think fit. And when such loss amounts to 50l. or upwards, such rate shall be settled by a majority of the directors at two successive weekly-meetings at the least; and if any five members, insuring to the value of 5000l. think themselves agrieved, they may within fourteen days after such publication, inspect all the office accounts, &c. and offer their exceptions to the directors; and not being there agreed, it shall stand referred to the next general meeting. Nevertheless when such rates shall exceed the deposit-money, every member shall pay into the office his proportion, within thirty days after such publication; and all defaulters may by the directors be excluded the benefit of their insurances, and yet be liable to the payment of the said rates, pursuant to these articles.
Other offices of insurance on goods either deduct at least 3 per cent. out of each claim for defraying charges, &c. or oblige the sufferers to agree to an average; which this office is so far from doing, that no person is put to any charge but that of an affidavit to prove his loss. And though it is objected against this office, that the members are liable to farther contributions, upon extraordinary losses, which is not the case in any other office that insures goods; yet this is certainly so far from being an objection against the Union Office, and a recommendation of those other offices, with such as reason justly, that this single confederation proves the excellency of the Union establishment, in making such provision for answering losses, as it is presumed, cannot be exceeded by any human contrivance. This office has paid since its first establishment in 1715 to the end of the year 1757, to sufferers by fire, the sum of 62,538l. 18s. 11d. ½ besides which, there have paid to porters and other necessary charges occasioned by fires upwards of 5600l.