The Latent Novelty In Insurance.
A novel system (‘The Times’ says) has been invented for the insurance of passengers by boat, omnibus, or rail. The inventor is Mr Medawar, and his scheme is such that every person taking a ticket is insured without any cost to himself. Instead of the pasteboard card-ticket now in vogue, Mr Medawar has produced a new kind. Both in size and appearance, and also in weight, it is like the present ticket. It is, however, really a miniature wallet, inside of which is found a policy of insurance for a sum which varies according to the class by which a person travels, and covers fatal or other accidents arising during the journey. This is what, under ordinary circumstances, could be obtained by paying a sin all su mon every journey, bu tbyth is system it is given free. The new system goes beyond this, however. It provides every railway, tramway, omnibus, or steamboat company with the tickets and policies free of cost, providing only that they are issued to the public without any charge beyond the ordinary fares, so that every passenger will find inside his or her ticket the policy of insurance. It may be asked how this is done, and the answer is very simple. The sheet enclosed in every ticket is a large one, and contains, besides the policy of insurance, an index map of the route, a directory of interesting places in the direction in which the ticket is issued, and the balance of the apace is filled with advertisements. The map marks every station at which postal, telegraph, or refreshment accommodation is provided. It remains, of course, to be seen whether the railway companies will adopt tickets of this peculiar kind.
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The Latent Novelty In Insurance., Evening Star, Issue 8035, 11 October 1889
The Latent Novelty In Insurance. Evening Star, Issue 8035, 11 October 1889
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