War Insun
The following is quoted in its
ntirety from a release from the
tecretary of Commerce relative
o war damage insurance again
t enemy attack:
“Jessie Jones, Secretary of
lommerce, today announced
hat arrangements had been
worked out with the fire insur
ance industry to act as Fiduciary
Agents for the War Damage
Corporation in writing policies
if protection against enemy at
ack
“It will be necessary for ev
iryone who wants protection a
;ainst enemy attacks to make
lis application as soon as the
necessary blanks are available,
jecause the blanket protection
low in force will expire, bv law,
une 30.
“The program has been work
d out in cooperation with re
iresentatives of the insurance
ndustry, and a great majority
if those writing fire insurance
pill participate.
“Anyone wanting the protec
ion should contact his local fire
nsurance agent or broker.
lne necessary manual o i
ates, rules and regulations, and
ipplication blanks are being
irinted and will be distributed
hroughout the United States on
nr about June 20.
“The policies will be issued
ar a 12-month period to cover
hysical loss of real and person
il property which may result
rom enemy attack or action of
aur own forces in resisting enemy
ittack
“Blackout, sabotage, capture,
leizure, pillage, looting, use and
jccupancy, rent, rental value, or
)ther indirect loss or consequen
ial damage will not be covered.
“Effort has been made to pro
vide reasonable protection at as
ow a cost to the insured as
>ossible. Recognizing that losses
•ccasioned by war are a nation
al problem, Congress specified in
ts legislation that rates for this
jrotection shou'd be geographic
ally uniform, that is, the rates
o be charged will be the same
n the middle of the United
>tates as they are on or near the
2oast.
“The following rates have
>een established:
“Growing crops 5c on $100
Farm buildings, rural and ur
►an, including contents 10c on
TOO
No coinsurance will be requir
d on farm buildings and dwell
ags, but on all other property,
50 per cent coinsurance clause
dll be required, with fixed cred
os from the established rates for
oinsurance above 50 per cent.
TRANSFER SERVICE §
of ?
All Kinds |
Fl}EI, OIL |
THOMPSON’S
TRANSFER |
Erich Mueller, Mgr. &
ance Includes Alaska
Rates Geographically Uniform
On Fire On Ordinary
Resistive Construction
Construction
Churches", hospitals, public
buildings • 10c 15c
Apartments, office buildings,
warehouses 15c 20c
Manufacturing plants, wharves,
I bridges 20c 30c
Property in transit
Vessels devoted to storage or
industrial use 50c 75c
Ferries, commercial hulls, storage
cargo, pleasure craft 50c 75c
Pleasure watercraft and pleasure
aircraft (when not in use)
i -—
On Non
Classified
3c
25c
“No protection will be given
for accounts, bills, currency,
deeds, evidences of debt, secur
ities, money and bullion. Jewel
ry, furs, precious and semiprec
ious stones, statuary, paintings,
pictures, etchings, antiques,
stamp and coin collections, and
manuscripts will be protected
for individual owners up to $10,
100, with a $5,000 limit for any
one article, and for museums
and dealers up to $100,000, with
a $5,000 limit for any one article
Jewelry and furs up to $1,000
may be included as residential
contents under the 10c rate.
Growing crops will be protected
up to $100,000 per single own
er; pleasure watercraft and air
craft up to $10,000, while not in
use.
“The insurance companies
cooperating in the program will
assume 10 per cent o f all losses
in excess of net premiums col
lected after expense, with a
maximum aggregate loss to them
of $20,000,000, with a corres
ponding percentage and amount
of the net profits, if any.
“The Fiduciary Agents will
be paid 3 1-2 per cent of prem
iums collected to cover their
costs and overhead, with a min
imum of 50c per policy, and a
maximum of $700. The produc
ers — insurance agents and
brokers — will be paid a com
mission of 5 per cent of prem
iums collected with a minimum
of $1 per policy and a maximum
of $1,000 per policy.
“Inquiries should be address
ed to War Damage (Jorporatiob,
Washington. D. C.
“For the present insurance
will be written in the continent
al United States, Alaska, Hawaii,
Virgin Islands, Puerto Rico,
and the Canal Zone.”
l l:
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Owner
STAND
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and
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BAGGAGE
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DISPOSAL
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THE
KODIAK BAR
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