Shipbuilding and Shipping Record, Vol. 11

Shipbuilding and Shipping Record, Vol. 11 : A Journal of Shipbuilding, Marine Engineering, Docks, Harbours, and Shipping; February 7, 1918 (Classic Reprint)

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Excerpt from Shipbuilding and Shipping Record, Vol. 11: A Journal of Shipbuilding, Marine Engineering, Docks, Harbours, and Shipping; February 7, 1918 It is now some eight months since the rate of discount on deferred premiums was altered from 10 per cent. To 8 per cent. By mutual agreement between underwriters and insurance Deferred brokers. An enquiry into the results of this Premiums. Action has revealed the interesting fact that, in the majority of cases, deferred premiums have been abandoned in favour of cash payments. It is probable that this result was foreseen to a certain 'degree by those concerned at the time the new scheme was inaugurated; but it'is doubtful -if the full extent of the change was anticipated. In any case the market has cause for congratulation in the complete success which has attended the measure. Not only has it resulted in a much quicker settlement of the quarterly accounts, but the clerical labour involved in the intricate book-keeping necessitated by the deferred system has been done away with. Moreover, in many cases where large sums were due for deferred premiums, a letter cf guarantee from the broker's bankers was required by underwriters, a formality involving certain financial negotiations which are now unnecessary. The alteration has come about so gradually that it has attracted little attention, and it is only on looking back over the period which has elapsed since it. Began, that it is realised what a radical change has been made. Underwriters frequently complain that claims are not presented for settlement as promptly as could be desired, and generally the broker and the owner are blamed for this delay. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.show more

Product details

  • Paperback | 38 pages
  • 152 x 229 x 2mm | 64g
  • Forgotten Books
  • United States
  • English
  • , black & white illustrations
  • 0243163355
  • 9780243163359