PAEMERS' MUTUAL FIRE liSTSURANCE COMPANIES. 7 



Reports gave no reply to this question. The significance of these 

 figures, it should be pointed out, is materially lessened by the fact 

 that the definition of a " single risk " or " any one risk " as used by 

 these companies is by no means uniform, some companies applying 

 the term to all the property insured on a given farm, or even in a 

 few instances to the property covered by a single policy, while others 

 use it in the more appropriate sense as signifying a unit or group of 

 property subject to destruction by a single fire. 



The highest percentage for which insurance is granted by any of 

 these companies was reported as 100 per cent of the cash value and 

 the lowest such maximum was 33 per cent. The average percentage 

 fixed as a maximum for insurance granted was 70 per cent of the 

 cash value. Only 41 companies reported accepting risks for more 

 than 75 per cent, and only 11 companies reported the maximum per- 

 centage of value permitted to be insured as less than 66|- . 



The maximum term for which policies are issued was given by 

 1,155 companies, and of these, 806 gave 5 years as such maximum. 

 Thirteen companies reported writing policies for not longer than 

 1 year; 58, for not longer than 3 years;, 19,. for not longer than 4 

 years; and 19 others, for not longer than 6 years. Thirteen com- 

 panies reported writing policies for terms up to 7 years and 13 others 

 for terms up to 10 years. Perpetual or annually renewable policies 

 were written by 214 companies. It appears, therefore, that 5 years 

 is the most common maximum period for which policies are issued 

 by these companies, more than two-thirds of them reporting this 

 term, while nearly one-fifth of the farmers' mutuals issue policies 

 which remain in force as long as assessments are met by the insured 

 or until the company finds reason to cancel the insurance. 



BUSINESS TERRITORY. 



Information concerning the territory to which they confine their 

 operations, either as the result of legal restrictions or of self-imposed 

 limitations was given by 1,145 companies. Of these, 386 companies 

 reported their business territory on a township basis ; 715, on a 

 county basis; and M, on a State basis. Of the so-called township 

 companies, 87 operated in a single township ; 38, in 2 townships ; 21, in 

 3 townships ; and 32, in 4 townships. Ninety-eight companies oper- 

 ated in from 5 to 9 townships ; 40, in from 10 to 14 townships ; 44, in 

 from 15 to 24 townships; and 26, in 25 or more such units of area. 

 The companies operating on a township basis are most common in 

 Illinois, Wisconsin, and Minnesota, although a considerable number 

 of such companies are also found in Maine, New Hampshire, New 

 York, Pennsylvania, and Ohio. 



Of the 715 companies reporting their business territory on a 

 county basis and therefore frequently termed county companies, 



