Product Public Liability Insurance

The casualty insurance companies have suffered severely from the decrease in premium volume which has been a natural consequence of the depression. The Casualty Experience Exhibit shows that for all stock companies entered in New York the country-wide volume of earned premiums in calendar year 1933 was approximately 26~ less than the peak volume attained in calendar year 1930. The effort to regain casualty premium volume seems to be concentrated in using greater sales pressure on the favored lines such as Accident, Auto Liability, Burglary, and the more common forms of Liability lines, other than Automobile. From the standpoint of the possibility of developing a material increase in premium volume, no consideration appears to have been given to a line which has shown a steady increase in premium volume, even during the depression, ever since it was inaugurated. This line is Product Public Liability insurance, the rates for which were first shown in the manual effective July 1, 1925.