Burglary Insurance

BURGLARY INSURANCE. A contract of indemnity, (1) against direct loss by bur glary, or by burglary, theft or larceny of any of the assured's property, occasioned by its felonious abstraction from the interior of the house, building or apartment occupied by the assured as a residence by any domestic servant or other employee of the assured, or by any other person or persons, excepting a person whose property is insured; also against direct loss by damage to property insured, and to the premises, caused by burglars or thieves; known as residence burglary insurance; (2) against direct loss by burglary of merchandise owned by the assured, or held in trust or on com mission, or sold but not delivered, occasioned by its felonious abstraction from the premises, occupied by the assured for business purposes, by any person or persons, after entry into the premises by the use of force and violence, of which there are visible marks upon the prem ises; also for direct loss by damage to the merchandise, furniture, fixtures or premises caused thereby; known as mercantile burglary insurance; (3) against direct loss by burglary of money, post office and revenue stamps, bul lion, negouable securities, drafts, promissory notes and merchandise, in consequence of the felonious abstraction of the same from a safe or safes after entry therein by the use of tools or explosives; also for direct loss by damage to the safe or safes, to the merchandise or to the furniture, fixtures or premises caused there from; known as mercantile safe insurance; (4) against direct loss by robbery of money, bullion, post office and revenue stamps, checks, negotiable securities, coupons, bills of exchange, drafts and notes, express, bank and post office money orders, watches, jewelry and other mer chandise from the care or custody of any employee of the assured, while acting as mes senger or paymaster, and while conveying the same to or from the place or places direct by the assured; also for direct loss by robbery of any of said property, feloniously, violently and forcibly abstracted from within the premises of the assured; also for direct loss by robbery, by force or violence of money intended for payrolls, from the person, care or custody of any employee of the assured, while acting as messenger or paymaster, or while conveying the same to and from the places directed by the assured; also for direct loss by robbery, of any property above described, from the safe or safes located on the premises of the assured, by any person or persons, after entry therein, by the use of tools or explosives; also for direct loss by damage to said property, or said safe or safes, or the furniture, fixtures or premises caused by such entry; known as com bination messenger, paymaster, interior holdup and safe burglary insurance.

Burglary insurance was first written in this country in 1892, over 25 years ago, and from a very modest beginning, in which this form of underwriting was confined entirely to bur glarizing private residences, the business has broadened and developed until the assured is protected now, not only in his home, against burglars, as well as theft and larceny by his own servants or employees, but also in his place of business, and even against loss by the robbery or holdup of his messenger or pay master while going to or from the bank, or the store or office, or while en route to some distant place, with payrolls for employees working in a factory, mill or mine. The busi ness grew quite slowly during the first five years, but in the next five years, from 1897 to 1901, premiums written amounted to $1,759, 540, and losses paid to $622,765. During the next 10 years, the increase was much greater, with premiums of $20,000,000 and losses of $6,859,000. The figures for the five years end ing 31 Dec. 1916, show premiums written, $21, 938,671, and losses paid, $8,103,180, while for the year 1916 alone, the results were the most satisfactory in the entire history of the business, with 44 companies transacting some or all of the different forms above mentioned, and with premiums written of $5,427,977, and losses paid of $1,932,022.