, 1870-03-29
Rates OF Fire Insurance i'm Chicago.
We reprint the following, from tho lnsarassce'
Chronicle, by rcqucss, as the subjects discussed
are etiIl OF interest to business men Ia well as


are still OF interest to business men "a well as
Immediately after the var closed new tneal tn
surancr companies wefe formed, end new can.-
a.ss Tor Est1"u1ge came ffrm sorSa1 r.n;l's!i5
the ncld indetaugahfe sel!citnrs-rn-n WIN knew
co Euch wor1 as fall, and whose instructions were
bushes :, osE ss'' SesS - he1 IN. 1ar;f
was 4 question q rates, then Of commissions,
0EAlly ri both. Res1,s-blstuess ertr(onc. Aua
IT. ff 81 s Ssurb. W. sis s
Insurance ~ low as he cout, and generally Eot It
for What he WAS Wiling 10 ray. F1sstc!aSs Lake
street risks paid tA4 South Wafer street r.sAs,
9o+s4oc. ...
The VIII closed, and Northern prosper1t! was
temporarily checked. Chicago became nlrd with
a'vrn1nrFs md cvcry Inc cf ttsde whs osrfnM. o
rheEly fort.ccn. Int Insurance men wtE bl!nd.
The mad ehAse for business continued Inc eess
ltddct for dfpeciAscd tsos ~ ne IN insaTa1ee zee
hiRhes. prices Tho yeAr 1sis cloesl Elth gloomy
prospect for ctc underwriting. TIE companies
,oo. q easn % oser ana AgS ee % ~ sa ~ 1r ~
through which they w1ded in tStG, brought them
to reason, and In the tsn Of that year, ne crude
aie; !es The ne cns bosa 81 aHa
Of ratts was snop1cd. mt was evsdei and
1iols1cI 80 unscIrpiouslr AS 70 neeesitate
nT mi he tsets, VIII believe Or ooniena tasi toe
hound WIS formed 70 cfeste MONOPOLY. et 10 op-
prrss tho pubJ,c It grew out OF the stern ntckSsl-
ftrA Of me tines Nothing less than Absolute nc
ccsslU could hare produced combination Of tar
dlsco!dan1 elements which formed the Chicago
Beard OF underwriters
The ulst rrSplt of thear Acton In Advancing r1tcA
awakened the orsosltton OF the public. Ncw
companies werc formed, and foreign conpaase.
wc1c Invited 70 establish their agencies he.e. with
q view Of correcting What weir deemed - oe ca
tuual md rppffES1re rHtet-
The great Lake R=n>ct IRE Of list January carset
m ady1nee IN ratc1 Of e5 Ter cent THIS vas sool
reduced ac1tn, and \ steadisr feeling has anct
l,rrvalle,i Many Of the rates hare been r.,
tuced. but the majority arc BOW unjust and op
. prcsstyc- ~
be done until dte insurance Statistics arc b:o1Qn
10 crffec1lou 1 T., ars1vr scientifically It the cos
Of insur1rK special risks, 2nd hu1,itnrs which tu
ciule 4 variety af hazards and pocupkncic& TM
has been. with oEr oldest and must successful IN
tietEy!te;a to great eItent matter Of ul:trf:i4
n{dcJ hy The imperfect statistics At thcI connant
The hest they have bctu able to do IS to charHe III
standard f1tr, and Tectnu foE extra and sx1fou
halsr1,s IN the lump THIS Is not scientific, hux
M. hes-n KuccrsSfui and satisfactory, and ventul
u nrrdNt thst the Chicago BoaTd of Tnderws7tel
W1il rBtuIu 10 this method soorrs CT lats1. Ia
class oY Yt.ts Is very profitable when frce frol
morM haIasd, ard the present rates send Il
ucryaIn Of il to outside Companies, maaJ
which 4fc worthless ~ ~.
Wnrai haxard cannot be cettmxted PIuF,eE
ancr1ed pJ it u NOT safely tT.sTsa!A ~ any pnc
Tne duty ol good surveyor, Aitsr ss1a1ling. hl1
rei ID - The IUat.TA ris9, Ia 70 be<ume AL tpu2
" postsd u 70 sns scA'.e:A. atss1 aad e;'s-,