1963 Fire Losses Reach All-Time High

Issue 4 and Volume 117.

1963 Fire Losses Reach All-Time High Estimated dollar losses caused by fires in the United States climbed to an alltime high of $1,405,558,000 in 1963, the National Board of Fire Underwriters reported. This was a rise of 11 per cent over losses of $1,265,002,000 in 1962, and the increase dollarwise was the largest in history. In commenting on the increase, Lewis A. Vincent, NBFU general manager, cited (1) the rise in property values and construction costs; (2) the additional homes and other structures which have been built in recent years; and (3) the expansion in the population as important factors in fire losses. Estimated dollar losses during December totaled $113,116,000, an increase of 8 per cent over $104,293,000 for December 1962, and a rise of 19 per cent over $94,908,000 for November 1963. Estimated fire losses include an allowance for uninsured and unreported losses.

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