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The very kind reception accorded this work has made possible a new edition. In availing ourselves of this opportunity, the method of presentation has remained the same, having amply demonstrated its adaptability for business and teaching purposes. The authors are especially grateful for the statements of appreciation received from the insurance press and members of the insurance profession. A number of the minor errors which seem inevitable in a first edition have been eliminated, some miscalculations have been corrected, and some chapters have been brought up to date, although no work dealing with the ever-changing business of insurance can wholly keep pace therewith. The authors are indebted to Dr. R. H, Blanchard and Messrs. I. Bendiner and H. W. Glover for some criticisms and corrections embodied in this revision.
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