Insurance, Principles and Practices

Description of insurable interest; Interest of a person in his own
life; Interest of a relative; A pecuniary interest; The beneficiary
defined; Reserving the right to change the beneficiary; The im-
portance of this right; Right of revocation not reserved; Purpose
of assignment of policies; Methods of assignment; Other legal
phases of life insurance; The application; Settlement of claims.

X-SPECIAL FORMS OF LIFE INSURANCE

History and description of fraternal insurance; Differences be-

tween fraternal and "old line" insurance; Defects of fraternal

insurance in the past and the possibilities of the future; Assessment

insurance; Origin and purpose of industrial insurance; The sys-

tem explained; Cost of industrial insurance; Advantages of

industrial insurance; Nature of group insurance; Process of insur-

ing a group; Factors affecting the group insurance premium;

Advantages of group insurance to the group, the employer and the

community; Insurance of sub-standard lives; Its purpose; Var-

ious methods of rating sub-standard lives.

XI-ACCIDENT AND HEALTH INSURANCE

Losses due to accident and disease; Disability clauses in life insur-

ance policies; Coverage by separate accident and health contracts;

Types of policies; Limited and unlimited policies; Non-cancellable

policies; The principal provisions of accident and health policies;

Important things to examine in accident and health policies; Acci-

dent and health insurance rates; Compulsory health insurance;

Arguments for and against compulsory health insurance.

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Social insurance; Definition of liability and compensation insur-

ance; Industrial accidents; Distribution of accidents; Prevention

of accidents and insurance against consequences of; Industrial dis-

eases; The law of negligence; Liability insurance; The liability

policy; Liability rates; The principle of workmen's compensation;

Nature of compensation laws; Accidents covered by the laws; Bene-

ficiaries; Benefits paid; Methods of insurance; The compensation

policy; Workmen's compensation rates; Manual rates; Schedule

rating; Experience rating; Liability and compensation insurance

reserves; Methods of state regulation.

Reasons for insurable interest; What constitutes insurable interest;

Classification of insurable interests; Protecting the mortgagee;

Various methods of protecting a mortgagee's interest; Their ad-

vantages and disadvantages; The standard mortgagee clause;

Policy provision relating to assignment of fire insurance policies;

Method of assigning; Effect of assignment before a loss; Effect

of assignment after a loss.

XIV THE FIRE INSURANCE CONTRACT

Development of the standard fire policy; Provisions of the new

New York standard policy; Parties to the contract; The rate,

premium and consideration; Extent of protection afforded by the

policy; Events covered by the policy; Amounts covered by the

policy; Inception and termination of the contract; Suspension of

the policy; Voidance of the policy; Loss settlements.

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CHAPTER

XV-FIRE INSURANCE FORMS AND CLAUSES

The purpose of endorsements; Descriptive forms; Forms relating

to ownership; Forms relating to the description of the property;

Forms covering more than one location; Forms covering other than

direct loss; Use and occupancy insurance; Rent insurance; Profits

insurance; Sprinkler leakage insurance; Clauses; Clauses of per-

mission; Clauses decreasing the liability or hazard; Clauses re-

specting title or interest; Emergency clauses; Clauses limiting the

amount payable; Coinsurance clause; Average clause.

XVI-FIRE INSURANCE RATES

Divisions of the subject; The factors involved; Classification;

Judgment rating; Schedule rating; Experience rating; Classifica-

tion of fire insurance rates; Minimum rates; Schedule rates; The

Universal Mercantile' Schedule; The Analytic system; The Ex-

perience Grading and Rating Schedule; State regulation of rates.

XVII-FIRE INSURANCE RESERVE

Definition of the reserve; Object of the reserve; The reserve as

a trust fund; Financial importance of the reserve; Calculation

of the reserve; State legislation relating to the reserve; Criti-

cism of existing reserve requirements.

✓ XVIII-SETTLEMENT OF LOSSES

Classification of provisions applying to loss settlements; Provisions

referring to the preservation of the property; Estimation of the

amount of loss; Agreement and appraisal; Subrogation and net lia-

bility of the company; Non-concurrent policies.

PART V-MARINE INSURANCE

XIX-MARINE INSURANCE.

Nature of the contract; Factors essential to a valid contract; Types

of underwriters; Different classes of policies; Policies classified

according to the interest of the insured, the valuation of the sub-

ject matter, the term of the policy, the description of the subject

matter and the scope of coverage; Uses of various types of poli-

cies; Analysis of the policy; Description of the property; Incep-

tion and termination of the contract; Perils covered by the policy;

Various types of losses; General and particular average; Total

and partial losses; Expenditures; Factors influencing marine in-

surance rates; The subject of insurance; The insured; Nature

of the trade; Statistical experience; Competition; Policy condi-

tions; Underwriting judgment.

PART VI-OTHER FORMS OF CASUALTY

INSURANCE

CHAPTER

XX-AUTOMOBILE INSURANCE .

PAGE

. 299

Types of automobile coverage and types of companies; Liability

insurance policies; Property damage policies; Liability and prop-
erty damage rates; Factors influencing rates on private passenger
cars; Public automobiles; Commercial automobiles; Manufactur-
ers' and dealers' cars; Collision insurance policy; Collision in-
surance rates on private passenger cars; Commercial cars; Pub-
fic and livery vehicles; Manufacturers' and dealers' cars; The
fire insurance policy; Factors affecting fire insurance rates on priv-
ate passenger cars; Livery and renting automobiles; Commercial
vehicles; Manufacturers' and dealers' cars; Theft insurance.

✔XXI_TITLE INSURANCE

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Land titles; The lawyer's abstract and its defects; Guarantee of

title by an insurance company; The operations of a title company;

Extent of the guarantee; Extent of the title business; Types of

policies; Policy covering owner's risk; Policy covering mortgagee's

risks; Special policies; The premium; Guaranteed mortgages.

XXII-CREDIT INSURANCE

Causes of business failures; Necessity for credit insurance; Gen-

eral plan of credit insurance; Types of policies; Limited and un-

limited policies; Principal provisions of credit insurance policies;

The services of credit insurance.