Adopted in May, 1913, by the N. Y. Fire Insurance Exchange I. SHORT RATE TABLE FOR ANNUAL OR SHORT TERM POLICIES. In writing short term policies (i. e., policies having a shorter term than one year), and in cancelling at short rates either short term or annual policies, charge or retain the percentage of annual premium indicated in following table opposite the time for whick computation is made: Per Cent. 19 days... 60 (2 months). Per Cent. II. SHORT RATE TABLE FOR TERM POLICIES WRITTEN AT THREE-FOURTHS OF ANNUAL rate for EACH YEAR AFTER FIRST. In cancelling at short rates a term policy written for two, three, four or five years at three-fourths of annual rate for each year after first, retain the percentage of premium for entire term indicated in following table opposite the time for which computation is made. [N. B.-The short rate earned premium on a term policy (i. e., a policy having a longer term than one year) written as above, but for an irregular term or a term longer than five years is to be ascertained as follows: If cancellation is made before end of first year, use Table I above; if cancellation is made at or after end of first year, add to full annual premium three-fourths of annual premium for each additional year of term after first year, and pro rata proportion of three-fourths of annual premium for each fraction of such additional year.] 59... 93.75 60..... In cancelling or writing insurance, whether under annual or term policies, for a term not appearing in the regular short rate table, the charge for the next longer term appear. ing in the table shall be taken. SHORT RATE TABLE IN USE ON THE PACIFIC COAST. APPROVED MARCH 18, 1902. If Written for One Year Policy Earns. Time Per Has in Force. for Three 1 Month..... ... for Five? Years' Term, Policy Earns. Per Cent. of the Term Premium. 7 10 3456789 9 9 10 23456789 15 10 20 13 The following cancellation table was prepared by the Auditor of State of Iowa, in accordance with the provisions of Section 1729 of the Code: NOTE-Refer to the table representing the year or years for which policy was written. Find time therein which the policy has run. The percentage opposite is that of the premium which may be retained by the company. 10,000,000 165,000,000 70,000,000 1866-July 4, Portland, Me.... 1915 September 4, Newport News, Va. 1916 March 23, Augusta, Ga. 7,500,000 6,625,000 10,000,000 5,800,000 5,000,000 50,000,000 350,000,000 6,000,000 4,500,000 8,000,000 2,000,000 10,000,000 5,000,000 1,500,000 4,000,000 1,500,000 2,600,000 2,500,000 1913. 1914. January... $21,922,450 $35,653,150 $20,193,250 $23,204,700 $20,060,600 $21,423,350 16,415,000 28,601,650 22,084,600 21,744,200 13,081,250 24,770,770 31,569,800 16,650,850 17,511,000 25,512,750 18,786,400 38,680,250 17,670,550 16,349,400 16,738,250 23,013,800 10,745,000 14,823,500 12,244,625 14,465,850 17,701,375 Totals.. $234,337,250 $225,320,600 $224,723,350 $235,591,350 $782,836,200 $227,683,070 |