History of Life Assurance in the United Kingdom (Continued)

1885 ◽  
Vol 25 (4) ◽  
pp. 257-271
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
Second Life ◽  
Life Assurance ◽  
The United Kingdom ◽  
History Of ◽  
Joint Contribution

The second life assurance project in 1710 to be noticed is the following.2. This day (16th December 1710) are published from the Office, at the Wheat Sheaf, over against Tom's Coffee-House in Russell Street, Covent Garden, proposals for the benefit of the Clergy and Widows of Clergymen, by a Joint Contribution, whereby a Clergyman by a Contribution of 10s. (as in the proposals is at large expressed) may be entitled to the sum of £750 on his being instituted and inducted into a Rectory or Vicarage in England or Ireland, or sent as a Missionary by the Corporation of the Society for Propagating the Gospel in Foreign parts; or by a Contribution of 5s. may be entitled to the sum of £375, or by a Contribution of 2s. 6d. to the sum of £187.10s., in the cases aforesaid, with other advantages for the Widows and Children of the Contributors.

History of Life Assurance in the United Kingdom (Continued)

1886 ◽  
Vol 26 (1) ◽  
pp. 1-24
Author(s):  
Cornelius Walford
Keyword(s):  
Eighteenth Century ◽  
United Kingdom ◽  
Life Assurance ◽  
Important Principle ◽  
The United Kingdom ◽  
History Of ◽  
The Law ◽  
One Year

A case arose about this time—the middle of the eighteenth century—which, as it illustrated some points in practice and an important principle in the law of Insurance, I will briefly review. It is the case of Cleeve v. Gascoigne. In June 1749, the defendant (Gascoigne) had applied to an Office-keeper, or Broker, to insure £1,600 for one year at 5 per-cent on the life of one Poulton, from whom the defendant had agreed to purchase an estate, whereof Poulton had the reversion in fee, and also an intervening interest for his own life.

History of Life Assurance in the United Kingdom (Continued)

1886 ◽  
Vol 26 (2) ◽  
pp. 120-132 ◽  
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
Insurance Company ◽  
Life Assurance ◽  
The United Kingdom ◽  
General Insurance ◽  
Bank Of England ◽  
History Of ◽  
Friendly Societies

Globe Insurance Company.—Early in the year 1799 a plan was laid before Mr. Pitt for forming a Chartered Insurance Office, for granting Insurance against Fire, and for Insurance of Lives; for buying and selling Annuities, and for receiving deposits from Friendly Societies, and the Industrial Classes: to be called the Globe or General Insurance Office. It was understood that the plan received that Minister's approval, and a Bill was introduced to Parliament embodying these objects. The measure encountered some opposition. In the first place, the Bank of England objected to the Deposit branch, and the clauses relating thereto were accordingly struck out. Then it was opposed by several of the Insurance Offices; but the Bill finally passed through both Houses, and received the Royal Assent.

History of Life Assurance in the United Kingdom (Continued)

1885 ◽  
Vol 25 (3) ◽  
pp. 207-216
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
Life Assurance ◽  
The United Kingdom ◽  
History Of ◽  
To Receive

Amicable Society.—We now arrive at the period of the formation of the Fourth Mutual Contribution Life Office established in London. This was designated the Amicable Society for a Perpetual Assurance; and it was destined, if not to be perpetual, to live long enough to become famous. It differed in some material respects from its predecessors, the chief distinction being that the contribution to its funds was fixed at £6. 4s. per annum. The first 2,000 members to pay, in addition, 5s. to the registrar and 5s. to the joint stock of the office; and all subsequent members were to pay 10s. to the joint stock. The founder and the registrar of the society was John Hartley; and he was to receive, permanently, 1s. per quarter out of each contribution.

History of Life Assurance in the United Kingdom

1885 ◽  
Vol 25 (2) ◽  
pp. 114-133
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
Experimental Period ◽  
Transitional Period ◽  
Life Assurance ◽  
The United Kingdom ◽  
Period 2 ◽  
History Of

Life assurance is the compound growth, first, of our commercial necessities, aided largely by a love of speculation, and later, of our progressive civilization. For the former, rough and ready means of estimation were resorted to; for the latter, a long and elaborate course of progressive investigation was needed.The development of the business has extended over some three or four centuries, perhaps more. It has passed through three distinct phases, as (1). The Experimental Period; (2). The Speculative or Transitional Period; (3). The Period of Scientific Exactitude. These periods, of course, more or less overlap each other, but they each possess very marked distinctions.

History of Life Assurance in the United Kingdom (Continued)

1886 ◽  
Vol 25 (6) ◽  
pp. 433-437
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
Great Britain ◽  
Public Confidence ◽  
Life Assurance ◽  
The United Kingdom ◽  
Public Credit ◽  
The World ◽  
History Of ◽  
The One

We commence our third epoch with the year 1721, and with the fact that there was at that period but one Life Assurance Office in existence in Great Britain—the Amicable, founded 1706. That too, so far as we have the means of knowing, was the only Life Assurance Association in the world. It was very defective in its mode of working, at the best; but it stood alone. The Society had at this date an accumulated fund of about £50,000; it had distributed in death claims £118,000. Thus it had obtained a solid hold upon public confidence, but I suspect its business suffered considerably from the general shock to public credit. The days of Mutual Contribution Life Assurance Associations, as such, were gone for ever in England. This Society had to take steps to mitigate the element of uncertainty, or it would most probably have died out. Solidity was now the one thing sought for.

History of Life Assurance in the United Kingdom

1887 ◽  
Vol 26 (4) ◽  
pp. 302-315
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
The State ◽  
Legal Process ◽  
Legal Recognition ◽  
Life Assurance ◽  
The United Kingdom ◽  
National Wealth ◽  
History Of ◽  
The Law ◽  
Policy Holder

The state of the law in respect to Joint-Stock Companies, and associations for business purposes generally, remained in the same unsatisfactory condition which I have described in the previous section down to this time. Those great Insurance Associations, with millions of capital subscribed, in many cases, by the merchant princes of the land, for purposes admittedly the most beneficent, were simple partnerships, almost without legal recognition, except for purposes tending to their detriment or destruction. They could be attacked or pulled down by legal process readily enough; but they could only protect themselves against fraud, or recover their just debts by the most cumbersome of processes. What they had a right to expect, as institutions designed to aid largely in the accumulation of national wealth, was protection in carrying out their laudable designs; but of this they had not a vestige. Not only was every holder of stock in a proprietary company primarily and personally liable to his last shilling for the engagements of the partnership, but every policy-holder in a mutual society, being a member of, and therefore a partner in such society, was equally liable for all its engagements.

History of Life Assurance in the United Kingdom

1887 ◽  
Vol 26 (6) ◽  
pp. 436-465 ◽  
Author(s):  
Cornelius Walford
Keyword(s):  
United Kingdom ◽  
Good Deal ◽  
First Report ◽  
Life Assurance ◽  
The United Kingdom ◽  
History Of

The earliest event of the year 1844 was the presentation to Parliament of the “First Report” of the Committee on Joint-Stock Companies, appointed in 1841. The report set out by stating that, as a good deal of the information affecting persons was in the nature of ex parte statements, caution would be required in promulgating it: hence much of the evidence collected would he stated summarily. I shall confine myself here to the passages bearing upon Insurance Associations.

scholarly journals The Progress of Life Assurance Business in the United Kingdom during the last Fifty Years

1891 ◽  
Vol 2 ◽  
pp. 136-172 ◽  
Author(s):  
David Deuchar
Keyword(s):  
United Kingdom ◽  
Half Century ◽  
Life Assurance ◽  
The United Kingdom ◽  
Look Back ◽  
History Of

At so striking an epoch in the history of our times as the Jubilee of our Most Gracious Queen, it seems natural that those who are engaged in any special branch of trade, or commerce, or science, should look back with interest at the records of the progress of that branch during the period then completed; and I therefore venture to hope that the particulars which I have collected regarding the progress of Life Assurance Business in the United Kingdom during the last half-century, and which I propose to lay before you this evening, may prove in some degree interesting to you.Before submitting to you these particulars, I think it may be useful if I refer for a few minutes to the condition of the United Kingdom in 1837, and to the changes which have occurred since then in matters which have had an important, though indirect, bearing on Life Assurance Business.

History of political and civil rights of women in the United Kingdom

2019 ◽  
Vol 2019 (11) ◽  
pp. 135-139
Author(s):  
Maria Zhukova ◽  
Elena Maystrovich ◽  
Elena Muratova ◽  
Aleksey Fedyakin
Keyword(s):  
United Kingdom ◽  
Civil Rights ◽  
The United Kingdom ◽  
History Of
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