366 



Canadian Forestry Journal, July, Tp2o. 



(2) The expense of preliminary es- 

 timate and valuation of small lots of 

 land is prohibitive in view of the small 

 premium received. With the co-in- 

 surance clause inserted it is safe to 

 take the members' own returns as to 

 amounts and value as correct, and 

 when a number of adjacent risks have 

 been secured, they can be passed upon 

 by the manag-er in one trip rather 

 than many. 



(3) A very large capital reserve is 

 required by law to enable a company 

 to obtain a charter to write freely a 

 considerable line in all States and se- 

 cure the advantage of covering a wide 

 area and the average risk. The Na- 

 tional Lumber Manufacturers' Assoc- 

 iation might possibly do this if gen- 

 eral co-operation by large timberland 

 owners could be obtained. Old line 



' commercial insurance companies, how- 

 ever, who have a well-established bus- 

 iness and large reserves are in a par- 

 ticularly desirable position to take on 

 this new line of insurance if they dis- 

 tribute their risks wisely, secure suf- 



ficient volume, and charge appropri- 

 ate varying rates based on previously 

 ascertained tables. If it were possi- 

 ble to secure unlimited backing at the 

 start by the creation of a Federal Tim- 

 berland Insurance Department at 

 Washington as an adjunct of the For- 

 est Service, with the Government's as- 

 surance behind it. it is my opinion that 

 an annual premium of one-half of 1 

 per cent on policies written over all 

 States and on selected risks would 

 more than pay all losses, and if the 

 management was carried on as an in- 

 tegral part of the Forest Service, in 

 connection with its other duties, and 

 little charge made therefor, a suffi- 

 ciently low annual rate could be of- 

 fered timberland owners to attract the 

 large as well as the small, and secure 

 the average risk. The effect of in- 

 surance on the practice of forestry and 

 the conservative management of tim- 

 berlands cannot be overestimated. 



(4) A standard expenditure for fire 

 protection must be insisted upon ab- 

 solutely wherever fire insurance is 



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