The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1856-02-27

Anything ?
NEssPs BARRETT & Conn:
In my communication of Jannary
30th the question was asked" What
are the PRINCIPLES which govern the con-
duct Of Fire Insurance Companies, -
and this question wos forced upon me,
from the manner in which some particu-
lar ones in this State, conduct their bus
mess, and the reference is not to any
particular one. for there are several that
appear to conduct their business after
the same lan-not to all for with pleas
ure. we must make an exception Of one,
which always seems ready to act honor.
ably, promptly and openly, And from
some precedents of action which they
have offered us, | think every honest
man must conclude that their principles
are not so well defued and fixed as they
should be yes. more, that thoy are not
only underlined, but by no means calcu-
lated to reflect honor on themselves
For instance-a policy is given us
promising to pay "all loss or damage by
fire, within ninety days after notice Of
said loss" Now, this reads very we'll
it is very explicit and clear-it looks fine
every one understands it-but how
does it turn out? Why, after your
buildings are burned and you are in the
greatest need of money, an offer is made
to settle with You, if you will compro-
mile and take what may be offered youl
And if you refuse, as justly you may,
Men it is that you are told that amend
ments have been made to the company's
charter and that they are not obliged at
any rate to pay the insurance un.
der nine or ten months, but tEoy viii
give a company note on interest after
ninety days. Now that such an amend
ment has been made to their charter is
flct but they issue policies accompany.
ing which are their printed charter aud
laws as they were OrigiadHy granted
without saying anything about the a
mendments Their bylaws say The
Directors shall settle aud pay all losses
within three months after they shall
have been notified OF the same !" this is
gwen the policy holder, but the amend
mont extending the time of pay
mont IS Kept bark. WY this halt rep.
resentatIonF why are we not informed
OF the exact conditions of our contract
at once why give us the favorable
aspect OF the thing IN our policy and
compel US to look up all the exceptions
IN the statute book These companies,
am informed, are constantly making
applications tor new amendments, some
of which are granted, and all of which
are IN their favor. These amendments
are very convenient things for the m
panlcs, especially as long as the policy
holders are not aware OF them 1t is
like making a special contract with
man, and then making new Limitations
IN their own favor, quietly and alone in
their own room.
What adjective shall we apply to such
a course of procedure rs this 2 Is il
not Jfd"H"f6W that the company should
agree to pay losses IN ninety days when
they know that by the amendment of
their charter they are allowed nine or
twelve months TO pay 1t in} What
disastrous consequences, what inconveh-
lrnces, what deprivation will follow the
unfortunate policy holder, from snch
misrepresentation And finally after
you have been through the course Of law,
through continuance, reviews aud ap-
peals, and have got a final Judgment on
the case--it in the providence of God
you should be allowed to live 50 long--
thon by their charter You cannot get an
execution undor ninety days How can
We holders of small policies suffr such
delay 1t is ruinous for us-we can.
not do tive will not-f,r our proper
ty can bo insured in companies that are
prompt and ready to act
Again, what adjective can we apply