Irs Tax Debt Reduction Guide

A necessary condition for the success and permanence of any insurance company is that the premium paid for insurance shall be remunerative. It is from the premiums that the losses must be paid, or the business will soon perish. Fire, life, and marine insurance have generally proved profitable to their respective companies in all parts of the world. Losses in most kinds of insurance vary so little from year to year, that an adequate premium for an ensuing year might, with a watchful regard to current changes, be fairly predicated upon the experience of several preceding years. Yet fire insurance, for example, is now so carefully administered that the data, from which to establish the general premium rates, is not taken merely from the experience of any one company, but from the accumulated and combined experience of all. Still, even these rates constantly fluctuate. It will be observed, that if a season's Fires have been large and numerous, and losses unusually heavy, premiums are advanced all along the line. But credit insurance is subject to greater and more frequent vicissitudes. The movement of mercantile affairs in uncertain cycles of elevation and depression depends upon many circumstances, which can neither be foreseen, nor guarded against, by the credit insurer. Panics seldom come on schedule time, but often suddenly, and when least expected; and the losses of a Credit Indemnity Company, in a year of panic and liquidation, may easily exceed the losses and sweep away the profits of several ordinary years....