OCR Text |
Show oo Decrease of Risk Cause of Reduction Re-duction of Rates and Premiums. APPLIES TO ALL CREWS Seamen's Insurance to All European and African Ports on Mediterranean Included. WASHINGTON, Oct 12. Reduction of approximately twenty-five per cent recently by the governmont in war risk insurance rates on vessels traversing the war zone was followed today by a reduction of one-third in premiums on the insurances of officers and crews on such vessels. As In the case of the previous reduction, re-duction, "decrease of risk" was assigned as-signed by tho government as the 1m-rpolling 1m-rpolling cause. The new rate, which is offoctlve immediately, is fifty cents per $100; tho old rate was sovonty-Qve cents. Tho reduction applies to crews of all American vessols sailing between American ports and all European ports and African ports on tho Mediterranean. Mediterran-ean. "Announcement also is made," reads a statement Issued by tho treasury department, de-partment, "of a ruling now making mandatory seamen's insurance on all vossels trading to the Azores, tho Canary Can-ary Islands and tho ports of Morocco." Moroc-co." nn |