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Practical Remarks on the Present State of Fire Insurance Business - Softcover

Fredk; G. Smith

 
9781330163160: Practical Remarks on the Present State of Fire Insurance Business

Synopsis

This book explores the nature of fire insurance and its evolving practices in the early 19th century. The author, an experienced insurance professional, identifies competition as the driving force behind the industry's decline, leading to inadequate premiums and fraudulent claims. He argues that cooperation among insurance companies is crucial to restore stability and profitability to the sector. Through specific examples and historical context, this book delves into the challenges faced by insurance companies in balancing risk assessment with customer satisfaction. Ultimately, it underscores the importance of ethical practices and sound underwriting principles in ensuring the long-term viability of fire insurance.

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