UNDERWRITERS' LOSS.
£800,000 ON COTTON CARGO.
One of the heaviest of the war losses which have fallen on marine underwriters during the past five years is now being settled in the London market. The settlement is in respect if the cotton sunk when the United States steamer West Arvada was mined near Terschelling, on the Netherlands coast, on September 16 last Insurances are known to have been placed on the cotton in the London market to the extent of at least £800,000.
Although the loss is certainly one of the largest, %he premium was one of the smallest which have been accepted for war risks. The cotton was insured for the voyage from Galveston to Hamburg at the premium of 2s 6d per £100.
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Bibliographic details
New Zealand Herald, Volume LVI, Issue 17346, 18 December 1919, Page 9
Word Count
124UNDERWRITERS' LOSS. New Zealand Herald, Volume LVI, Issue 17346, 18 December 1919, Page 9
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