American telegraph. [volume] (Washington [D.C.]) 1851-1851, 1851-05-12

4
INSURANCE CoMPANIEs.-In giving place to
surance Company of New York-of which Mr..
GEORGE B. ARMSTRONG is the agent for this
city--we cheerfully copy the following extracts:
HUDsoN RIVER INSURANCE CoMPANY.-We
copy the following article from the Troy Daily
Post, commencing it to the attention Of those
who have acquired the reputation Of paying
their losses grndgingly We think this Com
pany is deserving of public patronage, from the
promptness with which they meet their liabii-
ties and the general management of their bust
ness.--N. Y. Zoe. Post
An Eaam,pleaoorthy Of fInaitatioa---H Hudson Rioer
Insurance Company. readers will reeollect
that we noticed fire in our last Saturdays pa
per, which broke out in Messrs. Ross s. Smiths
store in River street. We are informed that
the entire stock of goods owned by those gen.
tlemen were destroyed. They were insured in
the Mechanics, Mutual, Northwestern, and in
the Hudson River Insurance Company
The fire occurred on Saturday morning; the
Hudson River Insurance Company had notice,
informally, of their loss on Saturday evening.
On the following Monday morning, Col. Morgan
called on Messrs. Ross g. Smith, and for the
company adjusted and paid the loss. By their
charter, the Hudson River Insurance Company
their payment-thus anticipating their engage
ments. This promptness, and cheerful com
pfiance with their agreements with the insured,
is highly creditable to the directors of the COM
pany.
1t has been painful to US to witness the re-
luctance, in many instances, with which insur-
ance companies have paid theirlosse They have
seemed to regard with suspicious eye every
person who has been SO unfortunate as to be
compelled to come up TO them for a moiety of
their loss. They have thrown before them, in
a great many instances, the tedious and intri-
cate formula, through which, by their bylaws,
the insured is compelled to reach their just
dues from the company and, after exhausting
the patience of their patrons, they have-in too
many instances-wound up the chapter of their
cruelties by q ruinous lawsuit. This money
should not be paid grudgingly; it should be
| regarded as sacred debt, and when there is
not plain case of fraud the intercourse with
the company and the insured should be open
and cordial; every effort should be used by the
company to bring the adjustment of the claim
and its final settlement to speedy and salts
| factory conclusion.
The conduct of this company, in this case is
worthy of praise. We are informed that al
though this company has done large business
larger perhaps than any company of it's age in
the State-this is the first loss it has sustained.
They have adopted the wise policy of taking
| small amounts in q single risk, and so manag
ing as to avoid the destruction of more than one
risk at any one fire. This is the only safe mode
of insuring. A disregard of this salutary
method has been the rock on which many of the
old companies have gone to ruin. The direc-
tion of this company is made up of some of the
best business men in this State. Among the
number, and holding a prominent position in
the company, is Col. Morgan, gentleman well
known to the business men of this city as an
enterprising, prudent, and far seeing business
man, whose success in life abundantly proves
his entire fitness for the management of the
concerns of such company.