FlightGlobal.com
Home
Premium
Archive
Video
Images
Forum
Atlas
Blogs
Jobs
Shop
RSS
Email Newsletters
You are in:
Home
Aviation History
1914
1914 - 1031.PDF
Fliffht, October 16, 1014. J V First Aero Weekly in the World. Founder and Editor : STANLEY SPOONER A Journal devoted to the Interests, Practice, and Progress of Aerial Locomotion and Transport. OFFICIAL ORGAN OF THE ROYAL AERO CLUB OF THE UNITED KINGDOM. No. 303. (No. 42, Vol. VI.)] OCTOBER 16, 1914. tRegistered at the G.P.O.T TWeekly, Prioe 3d. uiHenpipet. J (_ PoatFr free, 8M. Flight. Editorial Office: 44, ST. MARTIN'S LANE, LONDON, W.C. Telegrams: Truditur, Westrand, London. Telephone: Gerrard i8aB. Annual Subscription Rates, Post Free. United Kingdom ... IJI. od. Abroad a«. od. CONTENTS. Editorial Comment: " Anti-Bomb" Insurance. A New Business for Underwriters Our Flying Men Ready for the Zeppelins Winter Comforts for Our Air Services The Wright Patent and the British Government .. Aircraft Work at the Front The British Air Services Royal Aero Club. Official Notices The Boland Aircraft and Jib Control A Visit to the Integral Air Screw Works Eddies. By"jEolus" From the British Flying Grounds Aircraft " Made in Germany " Aircraft and the War Models. Edited by V. E. Johnson, M.A. PAGE 1031 I03I 103a 103a 1033 1034 1034 I°35 1037 1039 104s «043 1045 1048 iTi " Anti-Bomb' Insurance. A New Business for Underwriters. If anyone had attempted ten years ago to predict that in this year of grace, 1914, we should be recording the fact of insurance policies being taken out in respect of possible damage to property as a result of a feared raid on this country by hostile aircraft, he would have been regarded as an idle dreamer, if, indeed, not something worse. Yet the fact that Paris, Ostend, and other places have been accorded aerial visits by the enemy, who has dropped a few bombs, would appear to have given rise in certain quarters of the Metropolis, as well as in some parts of the country, to such a nervous feeling that, for some little time now, a new class of insurance business has been developed by Lloyd's underwriters, who are stated to have issued during the past few weeks a considerable number of policies representing large sums of money. It is announced, for example, that many of the most prominent buildings in the City have been covered, together with every class of structure in the West End. The premium varies considerably, rates ranging from is. 6d. to 55. per cent, per annum being quoted, under writers being inclined to argue that certain buildings are exposed to greater danger than others. According to The Times, while the rates for London itself remained unchanged, the rate on wharves and adjoining premises on the Thames rose from 5*. per cent, on Tuesday to, in many cases, 105. per cent., though a fair amount of business was done at 7*. 6d. This, of course, is entirely a matter of speculation which events must be left to determine, there being no data of any kind upon which to base a reliable opinion, although of course it is self evident that Zeppelins are hardly likely to be despatched to London, with all the contingent risks, for the purpose of dropping explosives on any but the most populous and important centres. In one respect, the business very much resembles that of specie insurance—namely, that a single serious claim will more than wipe out the whole of the premiums likely to be received over a very long period. Thus, taking a premium of 2s. per cent., this means that in order to counterbalance the payment of a single claim of j£ioo, underwriters would require to receive a minimum of 1,000 premiums of 2s. each, which fact, we think, is silent evidence of the material risk to be feared as against the moral effect which it is sought by the Germans to inculcate on the British public. As the Financial Times points out, underwriters are, in reality, laying long odds against a successful air raid on the buildings they are insuring. Thus, it may be taken that even in insurance circles the probability of this country being invaded by a fleet of Zeppelins or other aircraft is regarded as being extremely remote. Indeed, a well- informed writer in The Times considers that the under writers who are writing aircraft risks have to thank the German Government for a great deal in giving rise to the rumours of intended invasion, and our own authori ties for the orders they have issued with the object of guarding against the same. It should be matter for serious consideration whether the Government should not be called upon to take upon themselves full responsibility for any damage done by the means of aircraft, as under present conditions this should be surely a national risk, rather than that of private individuals. Although, of course, it is not outside the Flying"Men bounds of possibilities that our enemies Ready will foolishly make an endeavour to visit this country by means of one or more Zeppelin airships, we consider that many of the public are unduly working themselves up into a Our for the Zeppelins. B
Sign up to
Flight Digital Magazine
Flight Print Magazine
Airline Business Magazine
E-newsletters
RSS
Events
