. Appendix to the Journals of the Senate and Assembly of the ... session of the Legislature of the State of California . nd south are insured against loss by fire by the NationalUnion Fire Insurance Company of Pittsburgh. All insurance onhomes in counties to the north of Kern and Santa Barbara is writtenby the Merchants Fire Assurance Corporation of New York. The records of the board di-sclose that on April 2, 192S, the date theboards blanket tire insurance contract become effective, upwards of$20,000,000 worth of fire insurance had been written by over 200 fireinsurance companies, at a total
. Appendix to the Journals of the Senate and Assembly of the ... session of the Legislature of the State of California . nd south are insured against loss by fire by the NationalUnion Fire Insurance Company of Pittsburgh. All insurance onhomes in counties to the north of Kern and Santa Barbara is writtenby the Merchants Fire Assurance Corporation of New York. The records of the board di-sclose that on April 2, 192S, the date theboards blanket tire insurance contract become effective, upwards of$20,000,000 worth of fire insurance had been written by over 200 fireinsurance companies, at a total cost to the veterans of approximately$150,000, at an average rate of 75 cents per $100 of insurance for athree-year period. On a yearly basis, this protection cost aroxind$50,000, with a total recovery of less than $5,000 duiiug the boardsentire existence on fire loss adjustments on veterans homes. Under the present arrangement, the same amount of premiums wouldhave purchased the same amount of fire insurance for a period of fiveyears instead of three, thereby effecting a saving of 40 per cent, or$20,000, The substantial residence of a capital city veteran—Sacramento. THIRD BIENNIAL REPORT 67
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