The Regulation of Fire Insurance

Issue 18 and Volume 54.

The Regulation of Fire Insurance GENERAL NEWS ARTICLE Fire insurance is the method of distributing the loss that occurs by fire among all those who pay premiums on fire insurance policies. The fire insurance companies are the means by which the funds are collected from the premium payers for the payment of the losses that occur. The fire insurance companies therefore are really the agency for collection and distribution of the premiums paid in by the policyholders less a reasonable return for services rendered. If ever a business was affected by a public interest that of fire insurance surely is, and this being the case, it is a very proper subject of governmental regulation. The history of our government shows conclusively that it is patient with those quazi corporations that are so necessary for public welfare and convenience. This statement applies more strongly to fire insurance matters than any other…

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