Excerpt from An Essay on Average, and on Other Subjects Connected With the Contract of Marine Insurance: Together With an Essay on ArbitrationThe great and only end of insurance, as known to, and quoted by every one, is indemnity; and the great difficulty in the practice is, in so accurately adjusting the claim of the merchant On the underwriter, _ that each party may be sa tisfied - this, however, will never be, till the principles and the practice of insurance are more perfectly, and are equally well understood by both. It is indeed necessary always to bear in mind, that the general importance and even the particular utility of insurance, can never be so well maintained, as by preserving the purity of the principles on which it is founded E - in this, the assured and the insurer are equally interested.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition.

We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.