The Insurance Gazette, and Provident Societies' Chronicle

The Insurance Gazette, and Provident Societies' Chronicle

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. Excerpt: ...who is capable of auditing assurance accounts, and deciding what are assets and whAt are liabilities. We remember being sorely puzzled by the accounts of a company whose directors weTe addicted to making very long speeches, and issuing still longer advertisements, setting forth the marvellous popularity of the institution, not only as a channel for insurance but for investment; but at the same time an item appeared in the balance-sheet of an enormous sum paid for brokerage and commission, larger in amount than usually suffices to defray the whole expenses of management in ordinury companies. Wonderful feats of arithmetical legerdemain are occasionally performed in preparing the accounts of insurance companies, which require great discrimination on the part of auditors in adjusting the various items, and estimating the true amount of liabilities; and a valuable lesson is conveyed in the history of the Asylum Office, which, after years of apparent prosperity, was suddenly discovered to be hopelessly insolvent, and the shareholders were called upon for heavy contributions to make good the outstanding claims. LORD CAMPBELL AND MODERN LIFE OFFICES. It is not often that our judges venture to deliver an extra-judical opinion, and this is, so far, a fortunate circumstance, for we generally find that when they do so they are almost certain to get beyond their depth. The most recent case of the kind, and to which we are now about to refer, occured on Monday, and was repeated with a very pretty variation on Tuesday. Ou Monday, Lord Campbell, in summing up the case in an action brought agaiust a modern life office, for payment of a policy on the life of one Jodrell, took occasion to animadvert upon the reckless manner in which the modern office took business; more

Product details

  • Paperback | 104 pages
  • 189 x 246 x 6mm | 200g
  • United States
  • English
  • black & white illustrations
  • 1236980581
  • 9781236980588