The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-11-21

The following letter. taken from the editorial
columns of the North american Of yesterday, Is
OF considerable interest TO Insurers:--
OFFIcB GIRARD FIRE INSURANCE COMPANY
N. Z. corner Chesnut and seventh sts.,
PHILADELPHIA, Nov. 9, 1867
L. W. Cram, Esq, Agent,
Dear sir;-In reply to the usual inquiries
made OF you relating TO our business eennec-
tions with the Boston Agency, you are at liberty
TO answer as we should endeavor to do at this
office: That this Company never deemed 1t
necessary to JOIN any combination of "Under-
writers" whatever. Indeed for the many years
we nave been In business, we have felt an un-
willingness to enter into any pledges, except
those made with the insuring public. These
we have been able faithfully to keep and abide
by. We could print and issue TO our Agents
schedule of rates and adopt rules of business,
either arbitrary or liberal; but 1t is not so easy,
however to obtain such rates or enforce such
rules upon the public. Tue field of insurance is
too wide the character OF our risks 30 varied,
that our Agents will find II vastly more import
ant 10 discriminate properly and carefully be-
tween individuals and property. Tney must
have and use some discretionary power in such
matters.
IT. as we term it, the ''moral hazard" could be
made less we might confidently look tor dimi-
mutton OF hres, and corresponding reduction
in rates. Perhaps the multiplicity of Insurance
Companies within the past few years has had
something to do In encouraging "over Iusu-
rance and their agents thus tempted to take
great risks at inadequate rates of premium.
This Is not the fault of the public or Justly
Chargeablc to parties insurIng. We have in
Philadelphia about seventy-fve companies from
abroad all anxious to do good paving bust
ness. Most of them are from New York and
Conneciicut; others from Europe.
This Is, perhaps, a s1lGicient reason why we
should desire to do business in your city and
others, and we have established, long since,
agencies at St. Louis, Chicago Louisville, Gin
cfnnat1 and the larger towns in our own State,
and more recently In New York, Boston, Port
land, New Haven, Hartford, and Springfield
1t IS true that our agents are instructed to act
independently In many things but to cooperate
with the responsible local companies, so far as
possible, in maintaining fair tariff of rates.
and the dignity of the profession.
We deem this essential to all parties, aud no.
thing should be done by either to undermine
the indemnity promised by the Underwater.
For, alter all, this is, in our estimation, the
most important and vital matter to all con-
cerped
We have been able to successfully insure more
than one hundred millions of dollars worth of
properly within the past fourteen years. and TO
pay eight hundred and fifty losses by fire. There
Is not dollar due or unpaid on this or any other
account
Why should we not desire still to insure
the peOpleg Our stockholders have also received
very satisfactory dividends. The "GIeat Port
land Fire. did not iniure us in the least, hence
We have no occasion to add to the odtdmtties of
She good people of that city, or any other, by an
extraordinary increase of rates at this time.
l am, very truly yours,
ALFRED s. GILLETT,
Vice-President and Treasurer