IMPERIAL. This company was formed in 1803. Its objects are merely those of infuring buildings, goods, and fhips in harbour. It is under the management of twenty-one directors, and the proprietors ftand engaged to advance, when neceffary, a capital of 1,200,000l. Their offices are in Sun Court Cornhill, and St. James's Street. ALBION. A company under this name was formed in 1805, including the insurance of lives with that againft all other accidents by fire. Its office is in Change Alley Cornhill. INSURABLE PROPERTY. To difplay at one view the import ance of these inftitutions, it is proper to fubjoin the following moft curious and interefting paper. Eftimate of the property in Great Britain and Ireland, infurable from lofs by fire; by Sir Frederick Morton Eden, Bart. 5,000,000 Wine, Spirits, &c. Horfes and Carriages Other articles £ £ 2,000,000 3,000,000 2,000,000. 5,450,000 AGRICULTURAL STOCK, the annual crop being estimated at 8,000,000 quarters of wheat at 40 s. 16,000,000 BRITISH MANUFACTURES, claffed as follows: Woollen goods, annual produce, 19 millions, annual export 8 millions. Stock on hand for home confumption Cotton goods, produce 10 millions: ftock for home confumption 11,000,000 Flaxen goods ditto Hempen goods Silk goods ditto 6,000,000 Leather, in fhoes, boots, fadlery, harnefs, military acoutrements, carriages, &c. Glafs, (plate glafs very much improved of late) 12,000,000 2,000,000 2,000,000 1,500,000 6,000,000 Porcelain, and pottery (much im- Property of every kind, infurable in Ireland, efti mated at Total property in the United kingdom, infurable from lofs by fire £ 53,725,000 590,975,000 Befides the above there are ftocks of coal, alum, and other minerals, boats and other fresh water craft, arfenals, offices and other public buildings, of the value of which no estimate can be made. LIVES. The infurance of a life is a contract whereby the infurer, in confideration of a certain premium, either in a grofs fum, or by annual payments, undertakes to pay the person for whofe benefit the infurance is made, a ftipulated fum of money, or an annuity equivalent, upon the death of a perfon whofe life is infured; whenever it shall happen, if the infurance be for the whole life, or in cafe it full happen within a certain period, if the infurance be for a limited time. The precarious dependence of a numerous family upon the life of a fingle perfon, naturally suggests the idea of feeking fome protection against a calamity, which fooner or later muft befal them; and this, probably, occafioned infurances upon lives, as an expedient by which a pecuniary indemnity, at least, might be fecured to the fufferers, fufficient to refcue them from the poverty and diftrefs with which they were threatened. Upon this principle refts the utility of infurances upon lives. Perfons having incomes determinable upon their own lives, or the lives of others, arifing from landed property, from church livings, from public employments, penfions, annuities, &c. by paying fuch an annual premium as they can fpare from their prefent neceflities, may fecure to their widows, their children, or other dependents, an adequate fum of money, or an equivalent annuity, payable upon their deaths. By fuch infurances alfo, may the fines to be paid upon the renewal of leafes, or the descent of copy-holds, be provided for. So, where a perfon, having only a life income, wants to borrow money, but can only give his own personal security for it, he may, by infuring his life, fecure to the lender the repayment of his money, though he fhould die before he is enabled to discharge the debt. OFFICES. Thefe confiderations induced the bishop of Oxford, and feveral other benevolent perfons in the reign of Queen Anne, to apply for the charter by which the corporation, called the Amicable Society, was established; to enable perfons to subscribe part of their incomes, in order that the reprefentatives of each fubfcriber fhould, upon their death, receive fuch fums as the 6 funds funds of the corporation would enable them to pay upon the feveral deaths happening each year. But as the benefits of this fociety were confined to a limited number of fubfcribers, and thofe only for fmall fums, feveral other corporations and companies upon more extenfive plans have been eftablished. The Royal Exchange and London Affurance companies obtained charters from George I. to enable them to make infurances upon lives. The focicty for Equitable Affurances on lives and furvivorships, was established in the year 1762, by deed inrolled in the court of King's Bench at Weftminster, in which every perfon that infures becomes a member, participating in the profit and lofs of the fociety. The fuccefs attending this establishment has given rife to others; namely, the Weftrinfer Society, for infurance on lives and furvivorships, and granting annuities; the Pelican life insurance company; to thefe may be added the offices already mentioned, where the bufinefs of infurance on lives is carried on together with that against fires, and a few others, as the Annuity Society for the benefit of widows, the Laudable Society for the fame purpofe, and the Life Affurance Society, for the benefit of widows and female relations. The bufinefs is not however confined to thefe offices, private policies being frequently effected. WARRANTY. It is generally a condition or warranty in infurances upon lives, either inferted in the policy, or contained in a declaration or agreement figned by the infured, that the perfon whofe life is meant to be infured has not any disorder which tends to the fhortening of life; that he has or has not, had the fmall pox; and that his age does not exceed fo many years; that this declaration fhall be the bafis of the contract between the infurers and the infured; and that, if any untrue averment be contained therein, the contract fhall be void, and all money paid on account of the infurance forfeited; and as this declaration is to be taken as part of the written contract amounting to a warranty, it behoves every perfon who makes an infurance upon a life, to be very circumfpect in ascertaining the truth of the allegations contained in it; because upon that the validity of the contract muft depend. By the warranty that the perfon, whofe life is to be insured, has no diforder which tends to the fhortening of life, is not to be understood that he is perfectly free from the feeds of all diforder. The warranty is fufficiently true if he be in a reafonably good state of heath, and, that his life may be infured on the common terms, for a perfon of his age and condition. MODE OF INSURING. In the office of the Equitable Society and moft of the others, an affurance is effected in this manner. The party whofe life is to be the object of the policy goes to the |