Insured

“ If the insured amount substantially exceeds the value of the subject-matter of a insurance contract, the insurer or the policyholder may demand a reduction of the premium and of the insured amount: Provided, That the reduction of the premium shall be effective for the future. ”

“ Now, let us suppose that he applies to and is insured in a stock company; he gets his policy for $1,000, and pays for it one per cent., $10. He is entitled to the same indemnity in case of a loss as he was in the mutual company; but when he pays his premium, he ceases to have any further interest in the successful operation of the company; he is the insured, but not the insurer; and whether the company make gains of suffer losses, matters not to him, provided the company continues solvent. ”

“ The obligation of an insurer in a policy of life insurance is made up of a number of promises, of which one is to pay to the beneficiary the amount of the insurance-the 'proceeds'-and another is to pay the 'surrender value' to the insured upon his demand. ”

“ XII. The insurance of any goods, &c. in this society, which shall be insured in any other office at the same time, to be void: And yet such insurer shall be liable to his covenants. Nevertheless a liberty is given to insure in any other office, so as such other insurance is indorsed on this society’s policy, and subscribed by two of the trustees, for which 6d. per cent. is to be paid; and in which case a proportionable part of any loss is to be paid by this society. ”

“ The modern policy provides that it shall be void if the insured "now has or shall hereafter make or procure any other contract of insurance, whether valid or not, on property covered in whole or in part by this policy." If the insured effects other insurance he must not forget to obtain consent of the insurer, and should he forget his good intention will not preserve his policy. ”

“ V. Any number of houses, out-houses, with goods or wearing apparel therein may be insured in one policy, provided the sum insured on each is particularly mentioned; but in all insurances the premium is to be paid for even hundred pounds. ”

“ The insured are required by the terms of the policy to notify the company of all sales of the property insured, and the assent of the insurance company is necessary in order to cover the property for the new owner. ”

“ When the sum insured is large, a higher premium per cent. is demanded; and money, papers, pictures, gunpowder, and jewels, are excluded.—If an article be falsely described, in order that it may be insured at a lower premium, the policy is justly void. An insurance made on the same subject at different offices, must be specified by indorsement on the policy; and, in case of loss, the offices pay a sum in proportion ”

“ And if the value of an article be partially insured, and receive damage by fire, the society is bound to make restitution only to the extent of the sum for which the premium is paid.
III. For lives: by virtue of which, on the demise of the party insured, a sum of money becomes due to the person for whose benefit the insurance was made. ”

“ Chief Justice Brickell, delivering the unanimous judgment of that court, said:
'In all contracts of insurance there is a implied understanding or agreement that the risks insured against are such as the thing insured, whether it is property or health or life, is usually subject to, and the assured cannot voluntarily and intentionally vary them. ”

“ The insured must not increase the risk assumed by the company. Concretely, in cases of property insured, the insured is bound in commutative justice not to deliberately destroy or damage the property covered by the policy under penalty of losing all rights to compensation. ”

“ He shall furnish the insured a statement showing the financial condition of the insurer and such other information as the insured may require. He shall report to the insurance commissioner in detail the amount of insurance placed and the premiums paid therefor, and shall pay to the insurance commissioner the additional license fee herein provided. ”

“ For all that appears the insured may have been advised and may have assumed that the coverage clause of the policy gave protection in such a case as is here involved and may not have desired to continue to pay the additional premium for the other losses described. We are not called upon to speculate as to the state of mind of the insured's officers and one asserted ambiguity is not to be cured by another. If the general coverage clause permits recovery, we see nothing to defeat it in what was done in connection with the rider. ”

“ If fires destroy a million of dollars’ worth in property insured for its full value, and a million’s worth more in property insured for one-tenth of its value, the insurers will pay $1,000,000 upon the first group and more than $750,000 upon the second. But if all the insurance is taken at the same rate the insurers will have received premiums ten times as great on the former group as upon the latter. ”

“ We insure our lives for the same reason that we insure our houses and our ships. All three things have money value; all stand momentarily in danger of destruction; and all are insured for the purpose of recouping ourselves and our dependents for their loss. ”

“ These circumstances gave the nephew such an interest in the life of the insured as to prevent the policy from being a wager one. The insurance effected was from the 9th of March, 1867, and the policy recited the payment of the first annual premium on that day, and stipulated for the payment of the subsequent premiums on the same day of that month each year. The payment of the insurance money, after notice and proof of the death of the insured, was made dependent upon the punctual payment, each year, of the premium. ”

“ To a person engaged in lightering, one or more lighters or scows and a small boat, not exceeding the aggregate value of two hundred and fifty dollars. To a drayman, his team. To a person engaged in logging, three yokes of work oxen, and implements of the value of three hundred dollars. Proceeds or avails of all life and accident insurance shall be exempt from all liability for any debt. To any person whose exempt property is insured, and destroyed by fire, the insurance money coming to or belonging to the person thus insured to an amount equal to the exempt property thus destroyed. ”

“ He’s insured against employers’ liability. He’s insured against war. He’s insured against loss of business profits. The interest on his mortgage securities is insured. His wretched little automobile is insured. ”

“ Now, I detest life-insurance agents; they always argue that I shall some day die, which is not so. I have been insured a great many times, for about a month at a time, but have had no luck with it at all. ”

“ Throughout the lifetime of the company, the complainant insured many and valuable properties in the company, and paid to the proper officers of the same large sums of money as premiums for such policies of insurance. ”

“ In an ordinary life assurance or endowment assurance contract the policyholder has the knowledge that either he or his dependents are assured of the payment of a sum on the occurrence of an event that must happen. In the various forms of insurance, such as fire insurance, marine insurance, accident insurance or burglary insurance, the policyholder pays a premium in order to be insured against a contingency which, if he is an honest man, he hopes will never occur. ”

“ And when any loss or damage is settled and adjusted, the insured are to receive immediate satisfaction for the same, deducting only the usual allowance of 3l. per cent.
N. B. In adjusting losses on houses or goods, no wainscot, or any sculpture or carving-work, is to be valu’d at more than 3s. per yard, or plate at more than 5s. 6d. per ounce.
XI. No receipts are to be taken for any premiums of insurance, but such as are printed, and issued from the office, and witnessed by one of the clerks or agents of the office.
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Persons may insure for any number of years more than one ”

“ The only other indication of the intention of the insured is sought to be drawn from a statement in a letter addressed to the company by its agents on September 14, 1931, referring to a conversation with the insured about September 1st. ”

“ The provision in the policy is one for the protection of the insurer, who is entitled, if he insists upon it in his questions, to be apprised of any fact which qualifies or limits the interest of the insured in the property, and would naturally tend to diminish the precautions he might take against its destruction by fire. ”

“ The Workmen's Insurance Council, which is at the head of the whole system, and which in conformity with the provisions of the law decides whether any compensation shall be paid and, if so, what the amount shall be, will naturally, by the reason of its very composition, look first to the interests of the insured. ”

“ If, during the cover period, the possibility of the occurrence of insured events has been substantially altered or increased by intention or gross negligence of the policyholder, of the insured, or of the beneficiary, the insurer may request an increase in the premium or terminate the contract within one month after it becomes aware of the fact. ”

“ When the insured effects insurance with an underwriter through a broker, then, unless otherwise agreed, the broker is liable for the premium to the underwriter, who is, however, directly responsible to the assured for losses or liabilities falling on the policy and for returnable premium. ”

“ If the insured survives the term, and pays the premium he benefits by receiving a share of the proceeds received from the policies of those members who do not survive the period, or who let their policies lapse for other reasons. ”

“ The original policy, executed September 27th, 1835, for one year, and annually renewed till September, 1838, contained the following clauses:-'And provided further, that in case the insured shall have already any other insurance against loss by fire on the property hereby insuped, not notified to this corporation, and mentioned in or indorsed upon this policy, then this insurance shall be void and of no effect. ”

“ The fixed payments may be limited to necessary expenses, with a moderate reserve for emergencies, all excess of collections to be returned to the insured. This simple conception of an insurance association, with such modifications as experience indicates, has been accepted for a time as ideal in almost every civilized community, and attempts are continually made to realize it, but in the vast majority of instances with complete failure as the result. ”

“ To indulge in outdoor life, the townships of Darlington and East and West Whitby were traversed by me as sub-agent for a farmers’ insurance company. There was not much difficulty in securing renewals of policies, but it was uphill work to get new business. The general excuse for refusal to insure was that Mr. Farmer had been insured before and had never made anything out of it. My throat used to get dry as a tin horn in trying to explain that the company couldn’t exactly guarantee a “blaze”, but the insurance policy was to protect the insure in case of fire. ”

“ The insured is to act, not upon certainties, but upon probabilities, and if the facts present a case of extreme hazard, and of probable expense exceeding half the value of the ship, the insured may abandon ”

“ VI. Every insurance is for seven years; and such insurance is to continue in force till six o’clock of the evening of that day seven years, on which the same is dated; and in the mean time such insurers property in the premises insured ceases, when such insurer or legal representative, may receive the return of deposit due upon the respective policy or policies, the same being delivered up to the office to be cancelled. ”

“ She showed me how it could be done; said that the parcel was insured with the Insurance Company, in Paris, for thirty thousand pounds, and the loss wouldn't fall on the railway, and gave me a certain hint how to do it all, which I needn't explain to you. ”

“ Where the Premium or Consideration for such Insurance, actually and bona fide paid, given, or contracted for, shall not exceed the Rate of Twenty Shillings per Centum on the Sum insured;
If the whole Sum insured shall not exceed 100l. ”

“ Since the 15th of November 1738, the society have enlarged their insurances to 4000l. on the following terms, viz. For every 100l. insured on goods inclosed in brick or stone, 6s. premium, and 10s. deposit; and on goods not so inclosed, 9s. premium, and 15s. deposit; and the hazardous insurances in the same proportion as the 3000l. insurances; and so in [228] proportion within part brick part timber, and since to 5000l.
VI. If more than twenty pounds weight of gunpowder is kept on the premises insur’d, the policy is to be void. ”