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<head>Indirect Legislation § 10</head> | <head>Indirect Legislation § 10</head> | ||
<head>16</head> | <head>16</head> | ||
<note>Private insurance <lb/>Throwing it on <lb/>a party who is <lb/>content to bear <lb/>it — as on a <lb/> | <note>Private insurance <lb/>Throwing it on <lb/>a party who is <lb/>content to bear <lb/>it — as on a <lb/>private insurer.<lb/></note><p>In the case of private insurance the advantage<lb/>results from this circumstance. The insurer<lb/> being prepared to sustain the loss [which<lb/>may take place] is <add>he is therefore</add> exempt from that pain of<lb/>privation which he would otherwise experience,<lb/>or at least the intensity of that which he feels<lb/>is much abated. The term of his proposing himself<lb/>for it was that of his receiving his <hi rend="underline">premium</hi>,<lb/>which at that time he looked upon as more<lb/>than equivalent to the danger of the loss: else<lb/>he would have had no motive to run the <sic>risque</sic>: <hi rend="superscript">(a)</hi> <note>(a) In a fair bargain,<lb/> as hath been ingeniously <lb/>observed by the <lb/>Abbé de Condillac, <hi rend="superscript">+</hi> <lb/>+ See Le Commerce & <lb/>le gourvernement considerés<lb/> <del><gap/></del> relativement l'un<lb/>a l'autre. Amst. 1776 12<hi rend="superscript">mo</hi> ch. 5 & 6.<lb/> each <lb/>party is a gamer: each <lb/>party by parting with <lb/>that which in his estimation<lb/> is worth less acquires what in his<lb/> estimation is worth<lb/> more. If this were <lb/>not the case, they <lb/>would each of them <lb/>have acted without a <lb/>a motive.<lb/></note><del>he bought the premium</del> <add><del>it was</del> in short it was [by taking upon him]</add> with the obligation<lb/>to bear the loss that he bought the premium. <lb/> In this sort of arrangement the <del>g</del> legislator<lb/>has little more to do than to lend his sanction<lb/>to <del>these as well as</del> <add>the</add> contracts here in question, just<lb/>as he would to any other.<lb/></p><head>17</head><p>When this plan of <add>method of obtaining</add> compensation is established<lb/>any where, it is well: but it is always a matter<lb/>of accident whether any will be found who<lb/>will insure against losses of this sort, and indeed <lb/>whether any will <add>so much as</add> think of <unclear>procuring</unclear> themselves<lb/>to be insured. <hi rend="superscript">b</hi> Besides the remedy is but an im- <note>-perfect</note></p> | ||
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NOTE<lb/><hi rend="superscript">(b)</hi> In London there are voluntary societies for purposes of<lb/><note>this</note> <!-- The word "this" is a catchword leading to the continuation of this note at the bottom of page 130/004 --> | |||
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15
Indirect Legislation § 10
16
Private insurance
Throwing it on
a party who is
content to bear
it — as on a
private insurer.
In the case of private insurance the advantage
results from this circumstance. The insurer
being prepared to sustain the loss [which
may take place] is he is therefore exempt from that pain of
privation which he would otherwise experience,
or at least the intensity of that which he feels
is much abated. The term of his proposing himself
for it was that of his receiving his premium,
which at that time he looked upon as more
than equivalent to the danger of the loss: else
he would have had no motive to run the risque: (a) (a) In a fair bargain,
as hath been ingeniously
observed by the
Abbé de Condillac, +
+ See Le Commerce &
le gourvernement considerés
relativement l'un
a l'autre. Amst. 1776 12mo ch. 5 & 6.
each
party is a gamer: each
party by parting with
that which in his estimation
is worth less acquires what in his
estimation is worth
more. If this were
not the case, they
would each of them
have acted without a
a motive.
he bought the premium it was in short it was [by taking upon him] with the obligation
to bear the loss that he bought the premium.
In this sort of arrangement the g legislator
has little more to do than to lend his sanction
to these as well as the contracts here in question, just
as he would to any other.
17
When this plan of method of obtaining compensation is established
any where, it is well: but it is always a matter
of accident whether any will be found who
will insure against losses of this sort, and indeed
whether any will so much as think of procuring themselves
to be insured. b Besides the remedy is but an im- -perfect
NOTE
(b) In London there are voluntary societies for purposes of
this
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indirect legislation |
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jeremy bentham |
[[watermarks::r williams [britannia with shield emblem]]] |
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c. hamilton |
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