TABL2 23. - UirFtRi^NCES IN THC COST 0? iiUlX INSUPA'.ICE 

 EE'^JEEII VESSELS CU5SIFIED ON TIE BASIS OF LOSS EXPERimCE 

 AS INDICATIiD BY 'JHE MOST D^aRTiVlff AND >'REQUEKr J-ROVISIONS OF THE IKSURAl^E COITTRACT 



Percentage of or average amovmt In pollcleo having 

 Indicated contractual provision 



Geographical area - 

 contractual provision 



Best 

 wood 



Worst 

 wood 



Steel 

 veDsa] 3 



Lost 

 wood 



All 

 vessels 



I. New England 

 I.Net premivtm ratio (dollars per 100 



dollars insvirance) , ^ 5* 



2.1ncluaing latent defects (Inchmareo 



clause) 88^ 



3. Including franchise clause *^6^ 



U- Including doductlhle average 52?S 



5. Franchise amount on all clalma except 



colllslcn (dollars per policy) $500 

 6. Deductible amount on all claims except 



collision (dollars per policy) $292 

 7, Exclusions on loss of equipment 'jG^fl 



Number of policies in the cample (100^) (171) 



5.0 



60^ 



$353 

 80^ 



(215) 



2.6 



98^ 

 l6f, 



$523 $1,128 



$ 250 

 i^9) 



5.7 



9C^ 

 58?J 



$893 



k.k 



93i 



52«< 



$500 $617 



$371 



77^ 



(31) (h66) 



II. Gulf Area 

 I.Net premium ratio (dollars per 100 



dollars insurance) 



2. Inclxidlne latent defects ( Inchmaree 



clautie) 



3. Including franchise clause 

 •+• Including deductible average 

 J.Fi'anchiae amount (dollars per policy) 



6. Deductible imount on all claims of what- 



soever natui'Q (dollars per policy) 



7, Exclusions on loss of equipment 



6.1 

 60ji 

 90i> 





Nunibor of policies in the sami)le (100^) (82) 



56^ 

 99^ 



$U09 

 (102) 



3.8 

 lOOff, 



^k2k 

 .51^ 



(35) 



6.h 



0.(^ 



(8) 



$233 ^/ 

 (6)5/ 



(8) 



5.1 



514^ 

 9k 



$1*20 

 76^ 



(227) 



I II. Calif oi-nla 

 I.Net premum ratio (dollars per 100 



doll ars insnr.ince) 6.2 



2.Inolxidlng latent defects (Inchmaree 



clause) 96^ 



.Including franchise clause 56^ 



. Including deductible average 71^ 



.Fi^nchiso amount (dollars per policy) $2,026 



6. Deductible amount on all clalmfi of wliat- 



soovar nature (dollars per policy) $ 3^5 

 7. Excluslon.'i on loss of equipment 91';t 



3. 

 h. 



5. 



Niuuber of policies in the sample (lOOjC) (l^+O) 



6.1 



9656 



593C 

 $2,213 



$ 276 



lOOjC 



(157) 



3.7 6.9 5.9 



{2k)M 9% 



(18) f/ 69;^ 



(11)^/ 61/0 



$3,»t20 $2,295 



$2,567^'/$ 316 

 (2U) ^' 90]L 



I13) (2ii) (33^ 



(13)^ 



OOjt 

 $3,000 



00 / 

 (13)^/ 



VBtise Loo small for percentaging; actiifll frequencies In parentheses , 



u/Doductlblo amount upplleo to all claims except collision. 



Source ; Tables A-^U, A-5'^, A-56, A-57, and A-59. No ]janic tables 



for Itomo 2 and 7, birt detailed broakdowno on tlie oamo itomo may bo found In tables A-53 oni A-58. 



All tables are in Api.-endlx A. " 



118 



