certificate is required to be furnished "as soon as possible," it is still sufficient if it be furnished within a reasonable time. But where the fire took place in November, and the account of loss was not furnished till the March following, it was held not to be a compliance with the conditions. Generally, this is a question for the jury. As premises insured against fire may be supposed always open to the inspection of the agents of the insurers, a general notice of the fire will be enough. SECTION X. ADJUSTMENT AND LOSS. Insurers against fire are not held to pay for loss of profits, gains of business, or other indirect and remote consequences of a loss by fire. We do not know, however, why profits may not be expressly insured against fire where it is not forbidden by or inconsistent with the charter of the insurers. There is one wide difference between the principle of adjustment of a marine policy and of a fire policy. In the former, if a proportion only of the value is insured, the insured is considered as his own insurer for the residue, and only an equal proportion of the loss is paid. Thus, if, on a ship valued at $10,000, $5,000 be insured, and there is a loss of one-half, the insurers pay only one-half of the sum they insure, just as if some other insurer had insured the other $5,000. But in a fire policy, the insurers pay in all cases the whole amount which is lost by fire, provided only that it does not exceed the amount which they insure. Most of the fire policies used in this country give the insurers the right of rebuilding or repairing premises destroyed or injured by fire, instead of paying the amount of the loss. If, under this power, the insurers rebuild the house insured at a less cost than the amount they insure, this does not exhaust their liability; they are now insurers of the new building for the difference between its cost and the amount they have insured. And if the new building burns down or is injured while the policy continues, the insured may claim so much as, added to the cost already incurred, shall equal the sum for which he was insured. It may be important to add, that, under our common mutual policies, the insured will also be liable for assessments for losses after the destruction of his building by fire, during the whole term of the policy. The jury, to whom the whole question of damages is given, are to inquire into the greater value of a proposed new building, or of a repaired building, and assess only such damages as shall give the insured complete indemnity. Where insurers reserve a right to replace articles destroyed, if the insured refuse to permit them to examine and inventory the goods that they might judge what it was expedient for them to do, such conduct on the part of the insured would be strong evidence to the jury to prove an overstatement of loss. I have not thought it would be useful to give forms of various policies. Applicants never make them, as they are always furnished by the insurance companies; each one having its own form, and using no other. But the following forms, of immediate notice of loss, of a later and fuller statement under oath with a magistrate's certificate, and assignments of policies, may be found useful. They must be all adapted, in practice, to the peculiar circumstances of each case. TO THE (179.) FIRE INSURANCE COMPANY. TAKE NOTICE, That on the last), a fire broke out in the building No. the sum of in the city of (or otherwise describe the location), whereon I am insured by your policy, No. dollars. I have not yet learned, and do not know, in what way the fire was caused; but, as soon as I am able, I will give you further information on the subject. (If the insured or his agent knows, or has reasonable cause for supposing, how the fire was caught, he should say so, and state what particulars he can.) The house was wholly (or partially) destroyed by fire; and I shall claim a payment from you under your policy. Written and sent this day of Witness to the signature and sending. (Signature of witness.) Some insurance companies, and, indeed, the express provisions of some policies, require that a sworn statement of the facts and circumstances of the loss, and the particulars of the claim, be given to the insurance company, with the certificate of a magistrate. I do not know that this course might not be always prudent. The form in which it is done must vary in each case, and be adapted to the peculiarities of that case. But the following form will generally be a safe guide: (180.) TO THE WHEREAS, The said numbered year INSURANCE COMPANY. Insurance Company, by their policy and dated on the in the dollars against loss or damage by fire to the following-described building; that is to say (here describe or designate the building sufficiently to show clearly where and what it was, taking the description from the policy, but not copying it at length). Now, I, the said (name of the assured), having been solemnly sworn, do depose and say, 1. That on the hours of and day of now last past, between the a fire broke out in said building, whereby the same was greatly damaged (or destroyed), and the said fire was, according to my best knowledge and belief, caused by (here set forth the causes so far as they are known, or supposed on reasonable grounds), and I aver that the said fire was not caused by me, or by my design and concurrence, or with any previous knowledge on my part, or in any manner attributable to me or to my agency, direct or indirect. 2. That I was interested in the said property in the following manner; that is to say (here say whether the insured owned the property himself, or was a tenant of it, or a landlord, or mortgagor, or mortgagee, or trustee, or how otherwise he was interested). 3. That there was no other insurance against fire of the said property (or, if there was any other, state what it was). 4. That the occupants of the building at the time of the fire were, so far as is known to me, the following persons (set forth the names of the occupants, the parts of the building occupied by each one, and the purpose for which it was occupied). 5. That the actual value of the building in dollars at the time of the fire was, according to my best belief and judgment, dollars. (If the property was personal, as goods, furniture, or the like, say, as may appear by the schedule annexed). 6. That the whole of said value was lost by the fire; and being more than the sum insured thereon, I now claim of said insurance company said sum of dollars. (Or if the building was injured, and not destroyed, then say that so much of the value—stating the amount· - of said building was lost by the fire, inasmuch as the building, if repaired, cannot be restored to as good a condition as before, for a less amount than that sum.) WITNESS my hand at in the year this day of (Signature.) STATE OF (Certificate to be appended to the foregoing.) COUNTY OF 88. I (name of the magistrate), a justice of the peace in and for said county (or what else may be his office), dwelling near to the property above men tioned, in the town (or city) of have investigated the circumstances attending the said fire, and am personally acquainted with the said (name of insured), whose character is good; and I believe that the above statement to which the said (name of insured) has made oath in my presence is true; that the loss cannot be imputed to fraud or misconduct on his part; and that he has suffered by the fire a loss of dollars. I am not in any way interested in the said property, or in the said policy, or any claim under the same. IN WITNESS of all which I have hereunto set my hand and my seal (of office, if he has an official seal), at in the year this day of (Signature of magistrate.) (Seal.) (181.) ASSIGNMENT OF A POLICY TO BE INDORSED THEREON. I (name of the insured), insured by the within policy, in consideration of a dollar paid to me by (name of the assignee), and for other good considerations, do hereby assign and transfer to the said (name of the assignee) this policy, together with all the right, title, interest, and claim which I now have or hereafter may have in, to, or under the same. WITNESS my hand, this in the year (Witness.) day of (Signature.) It is always best to write this assignment on the policy itself; but it may sometimes happen that this is not convenient or possible, the insured who wishes to make the assignment not having the policy within his possession or easy reach. Then the assured may use the following form: (182.) WHEREAS, The bered and dated on Insurance Company, by their policy, num- caused me to be insured against loss or damage by fire on a certain build- day of in the year (Signature.) Witness.) If the policy be on goods, or vary in other respects, then the assignment must be made to conform to the facts. It is always best to get the assent of the insurance company to the transfer before it is made. And always the assignment, when made, should be exhibited without loss of time, to them or to their agent authorized to give their assent, and this assent to the assignment be obtained and written upon the policy, or, if that cannot conveniently be, on the assignment, and in the books of the insur ance company. CHAPTER XXIV. LIFE INSURANCE. SECTION I. THE PURPOSE AND METHOD OF LIFE INSURANCE. If A insures B a certain sum payable at B's death to B's representatives, we have only the insurer and insured, as in other cases of insurance. But if A insures B a sum payable to B or his representatives on the death of C, although C is often said to be insured, this is not quite accurate; more properly, B is the insured party and C is the life-insured. Life insurance is usually effected in this country in a way quite similar to that of fire insurance by our mutual companies. That is, an application must be first made by the insured; and to this application queries are annexed by the insurers, which inquire, with great minuteness and detail, into every thing which can affect the probability of life. These must be answered fully; and if the insurer be other than the life-insured, there are usually questions for each of them. There are also, in some cases, questions which should be answered by the physician of the life-insured, and others to be answered by his friends or relatives; or other means are provided to have the evidence of the physician and friends. These questions are not precisely the same in the forms given out by any two companies; and we do not speak of them in detail here. The rules as to the obligation of answering them, and as to the sufficiency of the answers, must be the same in life insurance that we have already stated in the chapter on fire insurance; or, rather, must rest upon the same principles. And the same rules and principles of construction therein set forth would doubtless be applied |