VIII. When any person dies, the policy and interest therein shall continue to the heir, executor, or administrator respectively, to whom the right of the premises insured shall belong; provided, before any new payment made, such heir, executor, or administrator, do procure his or her right to be indorsed on the policy at the said office, or the premium be paid in the name of the said heir, executor, or administrator.
IX. Persons changing the habitations or wherehouses, may preserve the benefit of their policies, if the nature and circumstance of such policy is not alter’d; but such insurance will be of no force, till such removal or alteration is allow’d at the office by indorsement on the policy. Insurances on buildings and goods are deemed distinct and separate risks; so that the premium on goods is not advanced by reason of any insurance on the building wherein the goods are kept, nor the premium on the buildings by reason of any insurance on the goods.
X. Persons insured, sustaining any loss or damage by fire, are forthwith to give notice thereof at the office, and as soon as possible afterwards deliver in as particular an account of their loss and damage, as the nature of the case will admit of, and make proof of the same by their oath or affirmation, according to the form practis’d in the said office, and by their books of accounts, or other proper vouchers, as shall be reasonably required, and procure a certificate under the hands of the minister and church wardens, together with some other reputable inhabitants of the parish, not concern’d in such loss, importing, that they are well acquainted with the character and circumstances of the person or persons insured, and do know or verily believe, that he, she, or they, really and by misfortune, without any fraud or evil practice, have sustain’d by such fire, the loss and damage, as his, her, or their loss, to the value therein mention’d; but till such affidavit and certificate of such the insured’s loss shall be made and produced, the loss-money shall not be payable. And if there appear any fraud or false swearing, such sufferers shall be excluded from all benefit by their policies. And in case any difference arise between the office and the insured, touching any loss or damage, such difference shall be submitted to the judgment and determination of arbitrators indifferently chosen, whole award in writing shall be conclusive and binding to all parties: And when any loss or damage is settled and adjusted, the insured are to receive immediate satisfaction for the same, deducting only the usual allowance of 3l. per cent.
N. B. In adjusting losses on houses or goods, no wainscot, or any sculpture or carving-work, is to be valu’d at more than 3s. per yard, or plate at more than 5s. 6d. per ounce.
XI. No receipts are to be taken for any premiums of insurance, but such as are printed, and issued from the office, and witnessed by one of the clerks or agents of the office.
Persons may insure for any number of years more than one; and in such case, there will be an abatement of 6d. in the pound per annum on the premiums agreed for, for every year except the first: As to instance, in a common insurance of 1000l. for seven years, the premium to be paid by the table will be 7l. from which 6d. in the pound per annum is to be deducted for the last six years, that is, 3s. and 6d. per annum, which amounts to 1l. 1s. and reduces the sum to be paid to 5l. 19s. and in the same proportion for any other sums or number of years; and persons insuring can never be subject to any calls or contributions to make good losses.
N. B. For the farther encouragement of persons insuring, there are provided several fire engines, and there are also employ’d in the service of the said office, (within the bills of mortality) thirty ablebody’d firemen, cloath’d in blue liveries, having silver badges with the Sun mark upon their arms, and twenty able porters, likewise wearing silver badges with the Sun mark, who are always ready to assist in quenching fires and removing goods, having given bonds for their fidelity: And also, all cities and great towns may receive assistance and encouragement for purchasing engines and proper machines for putting out fires, upon application to the said office, agreeable to the number of insurances made by this office in such respective cities or great towns. From the proposal delivered by the office in Threadneedle street, September 21, 1758.
This office is governed by twenty-four directors, under whom is a secretary, and several clerks.
Sun street, Bishopsgate street without.*
Sun Tavern fields, Shadwell.*