The accountant should be careful to keep a record of the date on which each policy expires, and he should also see that every building in which the concern has any interest is properly insured. The insurance records may be kept in an "expiration register" specially prepared for the purpose, or by means of a card system. A register such as is used by many fire insurance agents can be bought already ruled, the headings being self-explanatory.

The writer prefers a card system for this purpose, with ruling as shown in Form 52, which has proved itself capable of meeting all requirements. Under this system a card is numbered for each building to be insured, the numbers corresponding with the numbers of the properties shown on the property index and property ledger. As the insurance is written, the cards are filled in and filed. When all the cards are filled out, therefore, we know that every building is insured.

An even better method is to have a duplicate record, i.e., an original and a carbon copy. One set is then filed in order of dates, and one set in alphabetical order of owners.

Another set of cards is also made up and filed at the same time for use as a tickler, this second set containing a card for each month of the next one, three, or five years, according to the terms for which policies are written. Each card of this second set is headed with the name of its month, and as each card of the first set is written out, its number is entered on that card of the second series which represents the month in which the particular policy expires. The result of this is that if any card of the second series is taken out, we have before us a list of all policies to be renewed in the particular month represented by that card.

At the end of each month in which expirations occur, all the new policies written during that month are checked against the expiration card, in order to see that all renewals have been properly made; the particulars of the new policies are entered on the proper cards in the first series, and the property numbers of the new policies are also entered on the cards of the second series for the months in which they expire.

The policies themselves should be arranged according to the months in which they expire. This takes but little time and gives a check upon the expiration card. As each policy is received, it should be examined to see that it is correct as to date, amount, name of assured, and that it affords proper protection for the mortgagee, if any. It will be seen that the simple system here outlined contains merely the records required by the assured. It is not intended as a record for the insurance agent, which is necessarily somewhat more complicated.

No............. Property .........................................

House..............................................................

Assured ........................ Loss to ..........................

Company

No.

Dated

Expires

Amount

Premium

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Form 52. Insurance Card Record.