Business: Crime Insurance

A 1930 increase in crime, together with a new insurance policy to cover an old racket, were last week announced by R. A. Algire, vice president of National Surety Co. ("We bond more people than any other company in the world.") In 1929, said Mr. Algire, surety companies collected 35 million dollars in premiums representing burglary, robbery and theft insurance to the amount of five billion dollars. New York State spent nine million and New York City $6,500,000 to buy crime insurance. Mr. Algire estimated that in 1930 the surety companies would pay out...

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