INSURANCE OF FISHING-BOATS. 133 



the Company I represent, it has worked to the satisfaction 

 of all the shareholders. 



Fishing Gear should be Free from A verage. It is well- 

 known that fishing gear is never insured, and therefore 

 in common fairness it ought never to be made to contribute 

 even indirectly to the repair of losses. Fishing gear is 

 included by ordinary underwriters in the valuation of a 

 vessel and her stores, in order to swell the amount, and so 

 increase the sum which the boat-owner has himself to 

 underwrite ; in the case of salvage it would be made to 

 contribute its share or quota of the salvor's claims, but it is 

 never recognised by an ordinary underwriter as a loss for 

 which he is liable, and consequently it is never paid for. 

 Thus, for instance, in the case of a trawler, the value of the 

 trawl-gear would be included in the valuation of the vessel, 

 and in the event of salvage being paid it would be paid on 

 the total value, whereas, if the trawl-gear were totally lost 

 even if lost when being used for the preservation of the 

 vessel nothing would be paid towards its loss by the 

 underwriter. The same rule when applied to drift-fishing 

 vessels is still more unfair, because the fishing gear of a 

 drift vessel is oftentimes as valuable as the vessel itself. 

 This is most unjust. A boat-owner who cannot possibly 

 sustain a claim for damage ought not to be compelled to 

 contribute towards a claim for damage. On these grounds 

 all fishing gear should be " free from average," as the 

 phrase is, the word " average " in underwriting parlance 

 meaning the proportion which each description of property 

 should pay towards repairing the damage done. And it is 

 because boat-owners can at their own option declare their 

 vessels " off risk," and because " all fishing gear is free from 

 average," that a Mutual Marine Insurance Company, based 

 upon the system I advocate, can insure indiscriminately 



