1953 Fire Losses Highest on Record
Fire damaged or destroyed an estimated $903,400,000 worth of property in the United States last year (1953), the National Board of Fire Underwriters reported. This is 15.1 per cent higher than last year, when monthly losses totalled $784,953,000.
According to Lewis A. Vincent, NBFU’s general manager, 1953’s fire losses are the highest on record for the third consecutive year.
He said the losses reflect to a large degree the nation’s expanding economy, particularly those insurable values exposed to fire that have increased proportionately and include the result of the disastrous fire last August at the Livonia plant of the General Motors Corp.
Mr. Vincent noted also that losses for the month of December were particularly heavy, amounting to $83,440,000 an increase of 22.6 per cent over losses of $68,064,000 for the preceding month (November) and an increase of 12.6 per cent over losses for December, 1952, when they amounted to $74,127,000.
These estimated losses include an allowance for uninsured and unreported losses.