. Canadian forest industries January-June 1912. Lumbering; Forests and forestry; Forest products; Wood-pulp industry; Wood-using industries. CANADA LUMBERMAN AND WOODWORKER 33. Wll C. Young. Specializing1 in Lumber Insurance The Lumbermen's Eire In- demnity Contract which com- menced business on June 1, 1911, has appointed Mr. Will C. Young whose portrait is published here- with as manager. The organiza- tion of this company is a matter of much interest to lumbermen both in Canada and the United States. For some years follow- ing the growth of specialization in insurance, the companies mak- in
. Canadian forest industries January-June 1912. Lumbering; Forests and forestry; Forest products; Wood-pulp industry; Wood-using industries. CANADA LUMBERMAN AND WOODWORKER 33. Wll C. Young. Specializing1 in Lumber Insurance The Lumbermen's Eire In- demnity Contract which com- menced business on June 1, 1911, has appointed Mr. Will C. Young whose portrait is published here- with as manager. The organiza- tion of this company is a matter of much interest to lumbermen both in Canada and the United States. For some years follow- ing the growth of specialization in insurance, the companies mak- ing a specialty of insurance of lumber plants have found it ne- cessary to make a further dis- crimination between those which ^ore well constructed and ade- quately protected and those which lack these essentials. Act- ing on the idea that a risk on a selected group of lumber plants conforming to the highest insur- ance standards regarding the moral and physical hazard can be insured for a less cost than the stock companies are obliged to charge on account of the absence of any close discrimination in the selec- tion of their risks, a group of lumber and insurance men conceived the idea of insuring each other, after having selected a necessary number of risks of the same standard of perfection. The principle back of this insurance is mutual in the highest sense as all profits from the insurance, over and above the expense of operation, which i> fixed at 20 per cent, of the annual premiums, is placed to the credit of the subscriber or policy holder. The busi- ness of the company is under the direct supervision of an executive committee composed of three members, all of whom are practical lumbermen and also interested in a company making a specialty of lumber insurance. There is also an advisory board consisting of twelve lumbermen representing each district in C anada and the United States in which the organization is in operation. Mr. Cordon C. Edwards of the W. C. Edwards Lu
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Keywords: ., bookcentury1900, bookdecade1910, booksubjectforests, bookyear1912
