Soviet Union Information Bureau
THE State Insurance Administration was organized in January, 1922. The Insurance Administration writes policies covering fire, life, transportation, hail, livestock, mortality, etc. There has been a particular development of insurance designed to insure the stability of rural economic enterprises. Obligatory insurance in some categories has been established to this end and its scope has been gradually extended.
The growth of rural insurance is shown by the following properties covered by State Insurance policies:
|Fire (peasant farms)||17,000,000||20,000,000|
In 1923-24 the liabilities of the State Insurance Administration, under the head of obligatory rural insurance, were $1,300,000,000. In 1927-28 they had reached $3,664,000,000.
By 1926-27 the number of urban properties covered by obligatory insurance reached 1,330,000.
Voluntary fire insurance, which serves chiefly the needs of trade and industry, by the beginning of 1928 covered 65 per cent of the actual capital of industry, about o per cent of the estimated value of goods in all classes of industry, and about 63 per cent of all housing.
Life insurance was started in 1924. In 1924-25 the amount paid out in premiums was $432,000, in 1926-27 it was $1,390,000.
Amounts paid by the State Insurance Administration for all branches of insurance:
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