Fire Losses Decline for First Time
For the first time since March, 1944, monthly fire losses in the United States declined last month, the National Board of Fire Underwriters announced.
Needless destruction of property and resources by fire during April totalled $63,751,000, according to the National Board’s estimates, a decrease of 6.29 per cent from losses of $68,029,000 during April, 1947, and a seasonal decrease of 14.1 per cent from losses of $74,236,000 incurred during March, 1948.
Even so, fire waste continues at an extremely high level compared with former years. Losses during the past 12 months totalled $703,262,000, which is greater by $10,627,000 than the all-time high $692,635,000 for a single calendar year recorded in 1947.
Fire destruction has continued at a rate of $2,252,000 a day for the first 121 days of 1948, the National Board’s figures show. Thus, April’s decreases should not mean there is any reason to relax the nation’s defenses against fire.
April’s losses bring the total fire destruction for the four months of this year to date to $272,518,000, which nearly approaches the total fire loss figure for the whole year of 1939.
These estimated losses under fire insurance policies are on an incurred basis, including an allowance for unreported and uninsured losses.