New-York tribune., 1871-06-02
THE NATIONAL INSURlNcE CONTENTION


The National Insurance Convention met yes
terday morning az the OF the NewYork Board OF
Fire Underwriters the Hon. George w. Miller presiding
Mr. Hine Of The Insurance Monitor read paper relating
20 the amount OF premiums on unexpired risks that
should be reserved for reinsurance He thought that the
basis for this estimate should be so per cent OF such pre-
miums, which, from years of trial in this city, had
been found 10 be about the average risks having one
year or less TO run; but pro rata system might be
adopted on policies running for greater length OF
time The subject was referred TO the Committee on
Valuation DR.. T. g. Lambert Of the American Pop
ular Life Insurance Company read o commnni-
cation on the relative classification OF lives
He said that II very surprising fact that the stalls
ties of the Varons surance companies showed that the
average Of mortality greater with those that were
If ibjs fact that so many life Insurance companies
had met with heavy losses as their estimates hau Deen
computed on the average mortality or the comnuty
10 obyiate this was necessary ,nat o9 ,hr er
should be paid 10 the matter OF aseeraining whether per
sons apRSI9g ~ nOr rappant ppaS, tapg such risk
Nj Caldwell of Indiana, member OF the Comnltee
Cort On t1TC rom that ' G"nmee to the effect that any
surnce company doing business In state otner tDan
npon the amount premiums received after deducting
commissions and losses actually paid IN the state ana
hat beside the department fees which the majority re-
port had advocated. per cent on the net re.elp,s
would be an equitable the IN send 10 Se
left to the different states to decide but Thought tat
had deposited in state, II was unnecessary
| aud nnwisc 70 demand It in another.
Mr. sleels thought that the whole system of deposit
was wrong and that when company extensively ell
gagged in the insurance business suspended So9Mo Ws
any plan OF the kind should adopted ought TO make
the deposits prOportiOnate with each companys hssels
derosit' for the mere fact Of Its having made
one, gave false guaranty as TO mo seaIng aa,,y
to do business with them did not question their resPonsi
bnity they otherwise wond MT Miller sad ,ta that u
and within the past year had proved very adyantageous
IN this city in the case or TWO h ipr Y ~ aa en-
other States with Ioss 10 themselves II was deter.
and minority reports that related TO and fees and
To pass portion Of the majority report that related
Harvey on the third days session referred TO the
tommittee The portion OF the report reods G
$1,000 held ra for the common protection and bene Of its
policy boiler. -, ,..o.. 49,.
to Ere & and marine a. c,. soSP s no dF a Tl.oust e are
hem recommend that sse spcs' o At ,s' |. 10
iru r s3Ss lSr al i pe ec SysS Rosf' ff' IL re Tne states
Rod That IN the TTacc Of dividing it, sapu' i, pOe
holders mutual liennsnce e9npiay @ sa9ai s XXX XXX % r 1
resides deductions for isI expenses should Be msd IRON
company with its premium receipts or in cher words mat
no portion Of the .1g sg a. PSR PS % %Sae II af Sis other s O'
Mr. Caldwell of Indiana introduced the following reso-
Rcd while he adainistrston Of state Insurance sss Is
% n.urnee bepanep owes Il to himself he public
he appointed TO protect to dehas h; duties
special interests individual COMPANIES and that any hoi 70
r or the Of officer merely eense that Of
detsn Of all who charged With The eondse' OF state insurance
eoirsd That tn. this Convention that Insurance Com
pa generally should unite together 10 giving adequate iorce 70 e
senteht foregoing resolution BY Withdrawing and Withholding
their patronage from all publications which are condlei IN sp
malicious hostility determined ,nd impartial standardization
soied That th. .rpro5 The poev Of personal eIam
companies necessary and eheeut method OF carrying out
the theory Of State supervision - ,-.,--
Mr. Webb Kansas said that he hoped the resolutions
would be allowed to lie over unt oct9Der; lhere Was
much In them which he did not fully understand, and at
present, thought rather unneee Ssary .
Mr.. Moves of Connecticut thought there was enough
I'm the resolutons and he did not think II was necessary
10 wait until October to do it, III any one was hurt by
them IL was best that he should be, and he for one
would like find out no that person or persons were
The motion lay the matter on the table was adopted
The new blanks which the Committee on that subject
framed and had printed were then brought In, ana the
Convention took short recess TO informally examine
and confer the subject. In aDOut 20 minutes tney
were called TO order but before proceeding TO the regu
lar business Mr. Skeels asked leave TO present the ol
lowing resolution the consideration of the Convention:
Whreds experience In this country and England has
lives OF dependents those whose exist
peounary importance others ae certain 70 F 70 ere
occurrences prevent the extension Of insurance beyond
which become nonprOduers not dependensi
therefore ....--.-.---,.,. 49,.
policies shall be issued the lives Of their rns
extending beyoni the age Of 10 -,
Mr. Skees said that, in presenting THIS, ne wlsned
understood that ne did not IL as MS sentiment 1or
he had not fully considered the matter the resolutions
having been given him for presentation. Referred 70
form was then begun and continued until o'clock,
when the Convention adjourned 10 meet III the evening
at the Fifth-Avenue Hotel. -.
At the evening session, the consideration OF the blank
form resumed, and continued unt De meeting au'
iOurncd at midnight.