When armed U.S. merchant vessels leave U.S. ports for England this week (see p. 22), nobody will bid them a more anxious bon voyage than nine insurance men in lower Manhattan. These nine, who meet almost daily, are the Rate and Underwriting Committee of the American Cargo War Risk Reinsurance Exchange, which has outstanding $600,000,000 in war-risk insurance on U.S. cargoes over all the seven seas.
On war-risk insurance for practically all U.S. foreign trade, the nine men set the rates. At their last meeting last week (see cut) they pondered two grave questions: 1) does the recent course of the...
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