The Daily empire. (Dayton, Ohio) 1865-1867, 1867-03-14

The Insnrance ComblnatfOn.

The Insurance combination.
rho public are well aware hat our city
Companies have united upon
certain rates TO be established byal'oard OF
Underwriters. while the propriety and
iustice on such a measure is questionable
IL practcability is exceedingly doubtful.
imposition in all other lines Of business is
considered the life Of trade, and why does
insurance furnish an exceptions HOW
ever the principal query which would
addresst to our Board of Underwriters Is,
why should the Dayton public be required
IN nav New York rates Of insurance or
why should the rates, If they are not New
work rates. be advanced 90 considerably
here In this city as they have been by the
Board Of Underwriters We have llad no
extraordinary fires. The general loss Is
abont the same as for years past perhaps
loss. The recent formation of W 70 OF three
new companies, and more "in embryo as
lUell As dividends accruing TO OLD ones
would seem to indicate a more prosperous
time than ever. The Board have no suen
losses 10 predicate the new rates upon rs
have recently occurred in New York, Chi
cago. Vicksburg, &c. until these disasters
occur. or until our city shall bemore devas-
pted by fire vet, than as there iSno cause
for Increasing the rates. 1t might seem
nlnusible that where you increase the rat'
the insurer obtains so much more protec-
ton and indemnity to himself against losses
but is it not more plausible that by keep
inc down the rates you receive more
premiums and issue more policies simply
because where people pay less they vii
buy more. There is an extreme both ways
YOU NAV fix the rates too low as well as toe
Ibiob. The former rates had been estab-
,llisNcd by the experience Of our home COM
%panies. and why should they not be adj
hered to. until new chapter of losses
demonstrate the fact that they are made
~ouate. The fact that they are inadequate
lin certain large cities does not by any
, means indicate they are so here. Moreover
what is an inadequate compensation Don
: company, may not be at all so to another
! because of the diversity of their risks anI
Q circumstances. Hence it would result tina
Q the insurance business should be left to q
thealthy competition, like the branches o
p TRADE. The same argument which creates
n Board of Underwriters would create
r Board of Dry Goods Merchants Grocers
4 Sboemakers, sc, &c. The laws of demand
and supply will fix rates of insurance a
< well as the price of dry goods groceries
+ sboes Sc. Combinations or Unions haYt
n been attempted in other classes of bushes
e land MS often failed and should fail. If wha
hear to-day be true, a most fragrant i'll
e stance of a breach of the tariff of our Boar
Y ofUndcrwriters has lately transpired. Al
illusion is made to the insurance of certai
G extra hazardous agricultural works for
= certain prominent member at one and
o quarter. One violation of the compac
d only indicates many undiscovered. Latel
o the writer sought to renew a policy BEN
e at aliberal premium to wit: II ana
quarter on u frame store building, one an
v la half was the new rate. The agriculture
It member above pays but one and a quartz
n for five times the risk. But the clerk sal
it was the rate of the new Board, hal is
ylsav the Board increases all rates high an
re low alike. 1--WE can't help It," said til
n clerk. Mr.. Editor, that story may be toll
il to the Marines. "Creddt jEdGeuS dppettd'
nj ANTI-LEAGUE.