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)
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
By 1926-27 the number of urban properties covered by obligatory insurance
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