Book Description

Excerpt from The Prevention of Loss by Fire, Fifty Years' Record of Factory Mutual Insurance: Based on Thirty-Five Years' Personal Experience, With Suggestions for the Protection of Cities From Conflagrations The system of Factory Mutual Fire Insurance, founded by the late Zachariah Allen, of Providence, R. I., is unique. It is the only instance known to the undersigned of an undertaking to couple the prevention of loss by fire as the prime motive of the organization, with the payment of indemnity in money for such losses as cannot be avoided as an incident. About one thousand million dollars ($1,000,000,000) of risks are now outstanding in all the Factory Mutual Companies of this kind. I began this treatise with the intention of only stating a few dry facts and figures, which will be found in the first few pages, regarding the early history of the system and my own connection with it, upon record with the semi-centennial report of the Company of which I am President. As the dictation progressed the details of our work in the investigation of -the trivial causes of our heaviest losses were brought into view. It then became plain that when the remedy for the excessive fire loss of the country is sought, the same method of first seeking the trivial causes must be followed, and some way must be found for providing against them. It will be observed that the greater part of the fire tax is in the destruction of a relatively small number of large establishments, and not in the aggregate of a great number of small losses. 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.