Evening Republican, Volume 16, Number 304, Rensselaer, Jasper County, 23 December 1912 — LATEST THING IN INSURANCE [ARTICLE]

LATEST THING IN INSURANCE

Famous English institution Will Recompense Tourists Who Are Victims of Bad Weather. * The famous insurance company, Lloyds, has recently established insurance against the effects of bad weather for the benefit of tourists who in spring and summer make excursions in the south and west of England. These policies are called “rain policies” and are divided into four classes —A, B, C and D. Tourists taking policies of the A class Have to pay five dollars weekly during the journey, but in exchange receive forty dollars weekly for each week that has rainfall for more than two days. The “rainy days” are considered by the policies of the A and B class to be those in which the rainfall registers more than five millimeters of rain in twenty-four hours, but the assured does not collect on the A policy even though it may pour for two days in the week, unless the rainfall on a subsequent day registers the above stated amount With the B policy the assured collects even though it rain but one day in the week, but since the probabilities of this are much greater than in the cases covered by the other policies the rates are higher and the amount recovered relatively less. The C and D policies offer diverse combinations under the basis already indicated.— Harper’s Weekly. V