The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-12-16
THE PHEN1x INSURANCE COMPANY
Extracts from Chicago Papers.

From the Chicago Republican, November col
AN HONORABLE INSURANCE COMPANY.
To the general rule of bad faith which has
characterized the insurance companies, home
and foreign, In the settlement OF the claims
growing out of the recent fire, 1t Is pleasant
to be able to point out an honorable exception.
Indeed the facts are so credltable to the com.
papy, that even in the case of an ordinary
fire, involving but moderate loss, they would
stand out in the bold relief as something new
in the history OF insurance. We received q
agent of the Phenix Insurance Company, OF
Brooklyn, requesting proof Of loss, &c, for
the settlement of a policy. Our frat i'm
preston was that this was mistake-that
we had no policy iu that company. On In
quiry, however, we ascertained from the
gentleman through whom We had done all
our insurance for 1912, that there was an
old policy in our favor In the Phenix, which
expired on the 18th of October, and which had
eured our Office 10 dozen different COM
panies for an aggregate of $4,000. To all In
tents and purposes, aud according to the gen.
eral usage of Insurance the Phenix policy Wes
cancelled by the omission of the company
from the rest In the general renewal. The
facts were known to the agent; yet he declin-
ed 10 take advantage of them. Not only 30,
but while other companies, whose liability to
us Is uDqueslionable, are resorting to every
expedent for delay and evasion, the agent OF
the Phenix informs us that although onr claim
has not yet been adjusted, we are at liberty to
''draw" upon him against the policy at any
time. Hereafter, when we have insurance to
do, we shall remember the Phenix, and we
hope the next great fire in Chicago will find
us with a claim of s5O,000 against It.
From the Chicago Journal Of Commerce, Nov. 1s.,
The Phenix Insurance Company. of Brook.
lyn, N. Y, was the fret 10 pay loss occasloned
by the fire In this city. Messrs. William B.
Asten & Co., New York. who have also house
in Chicago under the firm name of Hart, As.
ten & Co.. were insured in the Phenix, and
were the first to receive their insurance-re-
ceiviug draft Of four thousand dollars for
the Chicago agency to reimburse them for the
loss they had sustained. Such prompt pay
ment on the part of the Phenix can bnt raise
them In public estimation. All other losses
incurred by this company will be paid, dollar
for dollar. as soon as adjusted. and they will
still have large reserve. The Phenix has
now proven its stability, and the fact will un-
doabtedly be remembered. Messrs. William
B. Asten & Co. had their entire property In
Chicago destroyed, but they were fortunate 10
having several invoices of goods on the way,
and with these they were able to begin busi-
ness again almost Immediately. The payment
of their Insurance helped them greatly.
From the Chicago Tribune. November ISL
WORTHY EXAMPLE.
The PheniX Insurance Company, of Brook
lyn, as is shown In another column, did very
sensible thing about Its losses, namely, sent
currency here to It's agent to pay It's small
policy-hoders before the banks were open.
This action. no doubt, prevented considerable
distress, and Is worthy of all commendatlon.