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34-699: CPIC Group is the second largest property insurance company (after People's Insurance Company of China ) and the third largest life insurance company (after China Life Insurance and Ping An Insurance ) in Mainland China . It provides integrated insurance services, including life insurance , property insurance and reinsurance , through its subsidiaries . The company offers life and property insurance products and services through its subsidiaries , China Pacific Life Insurance Co., Ltd and China Pacific Property Insurance Co., Ltd. , respectively. Through its subsidiary China Pacific Asset Management Co., Ltd,

68-711: A fire company, fire authority , fire district , fire and rescue , or fire service in some areas, is an organization that provides fire prevention and fire suppression services as well as other rescue services. Fire departments are most commonly a public sector organization that operate within a municipality, county, state, nation, or special district. Private and specialist firefighting organizations also exist, such as those for aircraft rescue and firefighting . A fire department contains one or more fire stations within its boundaries, and may be staffed by firefighters , who may be professional , volunteers , conscripts , or on-call . Combination fire departments employ

102-610: A civil service to the public, obliging private fire companies to shut down, many merging their fire stations into the city's fire department. In 1833, London's ten independent brigades all merged to form the London Fire Engine Establishment (LFEE), with James Braidwood as the Chief Officer. Braidwood had previously been the fire chief in Edinburgh , where the world's first municipal fire service

136-496: A compromise decision. In May 2007 New York Governor Eliot Spitzer announced more than $ 4.5 billion would be made available to rebuild the 16-acre (65,000 m ) WTC complex as part of a major insurance claims settlement. In the wake of Hurricane Katrina , several thousand homeowners filed lawsuits against their insurance companies accusing them of bad faith and failing to properly and promptly adjust their claims. On 24 June 2009, Florida Governor Charlie Crist vetoed

170-532: A covered loss prevents a person from living in their home, policies can pay the expenses of alternate living arrangements (e.g., hotels and restaurant costs) for a specified period of time to compensate for the "loss of use" of the home until the owners can return. The additional living expenses limit can vary, but is typically set at up to 20% of the dwelling coverage limit. Owners need to talk with their insurance company for advice about appropriate coverage and determine what type of limit may be appropriate. Following

204-408: A durable plaque that would be affixed to the building exterior. Although a popular legend says a company's fire brigade would not extinguish a burning building if it did not have the correct fire mark, there is little evidence to support this; evidence shows insurance companies required their firefighters to fight every fire they encountered. Amsterdam also had a sophisticated firefighting system in

238-585: A fire department varies greatly by country. In the United States, firefighting is usually organized on a municipal level. Some municipalities belong to "fire protection districts" that are served by the same fire department, such as the San Ramon Valley Fire Protection District . Austria, Germany and Canada also organize fire services at a municipal level. In France , fire services mostly cover one department . In

272-501: A fire loss covered under the fire insurance policy, the insured shall immediately give notice thereof to the insurance company. Within 15 days of the occurrence of such loss the insured should submit a claim in writing giving the details of damages and their estimated values. Details of other insurances on the same property should also be declared. Misc: Fire department A fire department ( North American English ) or fire brigade ( Commonwealth English ), also known as

306-437: A mix of professional and volunteer firefighters. In some countries, fire departments may also run an ambulance service , staffed by volunteer or professional EMS personnel . Fire departments are organized in a system of administration, services, training, and operations; for example: A fire service is normally set up where it can have fire stations, fire engines and other relevant equipment strategically deployed throughout

340-556: Is insured in two main ways—open perils and named perils. Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes , floods , nuclear incidents , acts of terrorism , and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage-causing events as fire, lightning , explosion, cyber-attack , and theft. Property insurance can be traced to

374-528: Is governed by the All India Fire Tariff that lays down the terms of coverage, the premium rates and the conditions of the fire policy. The fire insurance policy has been renamed as "Standard Fire and Special Perils Policy". The Standard Fire and Special Perils Policy (SFSP) is a kind of traditional insurance product that is specially designed to protect your property and its articles from the unforeseen unfortunate accidents caused due to fire and

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408-679: The Great Fire of London , which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren 's inclusion of a site for 'the Insurance Office' in his new plan for London in 1667". A number of attempted fire insurance schemes came to nothing, but in 1681, economist Nicholas Barbon and eleven associates established

442-476: The Halifax Regional Fire and Emergency , which is today Canada's oldest fire department. In 1764, Haddonfield, New Jersey established the second oldest fire company in the United States. Another early American fire department, staffed by unpaid volunteers, was established in the city of Petersburg, Virginia in 1773. In the 19th century, cities began to form their own fire departments as

476-602: The September ;11 attacks , a jury deliberated insurance payouts for the destruction of the World Trade Center . Leaseholder Larry A. Silverstein sought more than $ 7 billion in insurance money; he argued two attacks had occurred at the WTC. Its insurers—including Chubb Corp. and Swiss Reinsurance Co.—claimed the "coordinated" attack counted as a single event. In December 2004 the federal jury arrived at

510-1096: The Shanghai Stock Exchange on December 25, 2007, with IPO price 30 yuan per share. At the first trading day, its share price closed at 48.17 yuan, 61% more than its IPO price. It is planning to issue H shares in the Hong Kong Stock Exchange in near future. CPIC dropped below the IPO price of RMB¥30 on 26 March 2008 and closed at RMB¥27.98. Its H shares were listed on the Hong Kong Stock Exchange on 23 December 2009 with IPO price of HK$ 28 per share. As of 31 December 2015: Property insurance Property insurance provides protection against most risks to property , such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance , earthquake insurance , home insurance , or boiler insurance . Property

544-458: The 17th century after the Great Fire of London in 1666. The first insurance brigades were established the following year. Others began to realize that a lot of money could be made from this practice, and ten more insurance companies set up in London before 1832: The Alliance, Atlas, Globe, Imperial, London, Protector, Royal Exchange, Sun Union and Westminster. Each company had its own fire mark ,

578-509: The Consumer Choice Act (H.B. 1171). The bill would have trumped state regulation, and allowed Florida's biggest insurance companies to establish their own rates. Remarking upon State Farm's pullout from Florida, Ted Corless , a property insurance attorney who has represented large insurance carriers like Nationwide , noted "that homeowners are really going to have to look out for themselves". Five days after Crist vetoed

612-404: The Consumer Choice Act, Corless defended property insurance deregulation by pointing out that "if the blue-chip insurance companies wanted to price themselves out of the market", then they would go out of business. He accused Crist of making choices on behalf of consumers, not protecting their right to choose. In 2006 the average Florida annual insurance premium was $ 1,386 for a homeowner, one of

646-839: The United Kingdom, most fire services cover one or more counties , while Scotland and Northern Ireland each have a single fire service. In Australia, state governments run the fire services, although three states have separate agencies for metropolitan and rural areas. Poland, the Czech Republic, Israel, Italy, New Zealand, and the Philippines have national fire and rescue services. Fire departments may also provide other, more specialized emergency services, such as aircraft rescue and firefighting , hazardous materials response, technical rescue , search and rescue , and wildland firefighting . In some countries or regions (e.g.,

680-496: The United States, Germany, Japan, Hong Kong, Macau), fire departments can be responsible for providing emergency medical services . The EMS personnel may either be cross-trained as firefighters or a separate division of emergency medical technicians and paramedics . While some services act only as "first responders" to medical emergencies, stabilizing victims until an ambulance can arrive, other fire services also operate ambulance services . The earliest known firefighting service

714-404: The actual reconstruction value of the home. In case of a fire, household content replacement is tabulated as a percentage of the value of the home. In case of high-value items, the insurance company may ask to specifically cover these items separate from the other household contents. One last coverage option is to have alternative living arrangements included in a policy. If property damage caused by

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748-406: The allied perils. With multiple extensions, this policy not only keeps your property secure but also lessens the extent of the loss or damage that you may suffer causing a huge financial burden, and thus, it provides you relief from such anxiety. The risks covered are as follows: The following causes of loss are covered: The following are excluded from insurance coverage: Claims In the event of

782-503: The area it serves, so that dispatchers can send fire engines, fire trucks, or ambulances from the fire stations closest to the incident. Larger departments have branches within themselves to increase efficiency, composed of volunteers, support, and research. Most places are covered by a public sector fire department, which is established by a local or national government and funded by taxation. Even volunteer fire departments may still receive some government funding. The typical size of

816-718: The colonies' first fire insurance company in Philadelphia named the Philadelphia Contributionship, as well as its associated Union Volunteer Fire Company , which was an unpaid (volunteer) company. A document dated in 1686 informs about the payment system of four so called "fire servants" (German: Feuerknecht ) in Vienna , which is the official founding year of the Vienna Fire Department. In 1754, Halifax, Nova Scotia established

850-520: The company is also involved in the management, provision of consulting services relating to asset management and operation of insurance assets. The company's property insurance products include car insurance , insurance of family's properties, liability insurance , investment type insurance and accident insurance /injury insurance, while its life insurance products include endowment insurance , health insurance , juvenile assurance, insurance cover services and petty insurance. Its A shares were listed on

884-454: The cost of repairing or replacing the property with like kind & quality regardless of depreciation or appreciation. Premiums for this type of coverage are based on replacement cost values, and not based on actual cash value. Actual cash value coverage provides for replacement cost minus depreciation . Extended replacement cost will pay over the coverage limit if the costs for construction have increased. This generally will not exceed 25% of

918-635: The first fire insurance company, the "Insurance Office for Houses", at the back of the Royal Exchange to insure brick and frame homes. Initially, 5,000 homes were insured by Barbon's Insurance Office. In the wake of this first successful venture, many similar companies were founded in the following decades. Initially, each company employed its own fire department to prevent and minimize the damage from conflagrations on properties insured by them. They also began to issue ' fire insurance marks ' to their customers; these would be displayed prominently above

952-564: The highest in the country. In May 2022, Florida lawmakers have signed off on quick fixes to the state's property insurance crisis but critics say the plan pays little attention to the growing threat of climate change. Governor Ron DeSantis signed bipartisan legislation implementing the most significant and comprehensive property insurance reforms Florida has seen in decades to provide short- and long-term relief to Floridians to combat skyrocketing insurance costs. Fire insurance business in India

986-607: The late 17th century, under the direction of artist Jan van der Heyden , who had improved the designs of both fire hoses and fire pumps. The city of Boston, Massachusetts established America's first publicly funded, paid fire department in 1678. Fire insurance made its debut in the American colonies in South Carolina in 1736, but it was Benjamin Franklin who imported the London model of insurance. He established

1020-409: The limit. When obtaining an insurance policy, the limit is the maximum amount of benefit the insurance company will pay for a given situation or occurrence. Limits also include the ages below or above what an insurance company will not issue a new policy or continue a policy. This amount will need to fluctuate if the cost to replace homes in a neighborhood is rising; the amount needs to be in step with

1054-835: The main door to the property in order to aid positive identification. One such notable company was the Hand in Hand Fire & Life Insurance Society , founded in 1696 at Tom's Coffee House in St Martin's Lane in London . The first property insurance company still extant was founded in 1710 as the Sun Fire Office and is now, through many mergers and acquisitions, the RSA Insurance Group . In Colonial America , Benjamin Franklin helped to popularize and make standard

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1088-572: The practice of insurance, particularly Property insurance to spread the risk of loss from fire, in the form of perpetual insurance . In 1752, he founded the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire . Franklin's company refused to insure certain buildings, such as wooden houses, where the risk of fire was too great. There are three types of insurance coverage. Replacement cost coverage pays

1122-621: Was formed in Ancient Rome by Marcus Egnatius Rufus who used his slaves to provide a free fire service. These men fought fires using bucket chains and also patrolled the streets with the authority to impose corporal punishment upon those who violated fire-prevention codes. The Emperor Augustus established a public fire department in 24 BCE, composed of 600 slaves distributed amongst seven fire stations in Rome. Fire departments were again formed by property insurance companies beginning in

1156-592: Was founded in 1824, and he is now regarded, along with Van der Heyden, as one of founders of modern firefighting. The LFEE then was incorporated into the city's Metropolitan Fire Brigade in 1865 under Eyre Massey Shaw . In 1879, the University of Notre Dame established the first University-based fire department in the United States. The first motorized fire department was organized in 1906 in Springfield, Massachusetts , where Knox Automobile had developed

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