New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1872-11-23
INSURANCE PROBLEMS.

SESSION OF THE NATIONAL BOARD or FIRE
UNDERWRITERS AN INCREASE N THE
RATES OF PREMIUMS RECOMMENDED.
The National Board of Fire Underwriters re-
sumed its yesterday morning and entered at
once on the discussion OF the two main points for which
the Convention was called together-the decrease OF
agents commissions and the increase in present tariffs
Mr. Held made speech on the lessons forced upon In
surance companies by the fire In Boston. He said
that the capital OF insurance companies gener-
ally had been impaired by the hreS az
Chicago and Boston, that unless some steps
were taken by the companies 70 secnre themselves,
another great conhaTatOn in New-forE, Philadelphia
or any other large city, would sweep the vast majority
Of fire insurance companies out Of existence The mo-
ton which had been submitted TO reduce the commits
sion of agents to 10 per cent with the speakers ap
proval At present as matters stood the agents were
better of than the companies. The English companies
doing business here would have to unite in this move
protect themselves The speaker believed that'
the whole English capital invested here; IN IRE In
surance, nOta dollar had as yet!been made.
After remarks by other gentlemen "a tho best way
TO make the legislation OF tho Board OF Underwriters on
this subject such as TO bring oil companies mo mar no
nous action an amended resolution was offered 10 Inc
effect that and after Dec. the commissions pad 20
agents should be 10 per cent except on dyenehou'es
and farm buildings, where IS per cent should DC aoWeI
The resolution carried by considerable majority
Mr. DAVIS however proposed TO lay the report on me
table, not to commit the Board OF Ere Undcf-
writers any legislation which some OF the body nght
not approve Of As the leading companies were IN FAVOR
OF this reduction OF agents commission, he said his COM
pany IL supported by six Others would adopt the pro-
posed reduction from Dec l. a large number OF repre-
sentatiyes OF other companies declared their intention
OF doing the IL also agreed that instead OF
paying IS per cent dwellings and frame buildings tue
Companies should be left 10 their own rates
OF commission on that point. The following was
adopted:
Roi That the Executive Committee be distracted 70 eu'e 20 30
examined they be able tie laws pertaining 70 tue con1c
buildings different anl also the water supply and
departments and where such are found 70 De a
cy lake such action they may 'hat proper TO
remedy the evil
The Committee on Rates having had the matter under
consideration, reported that, in OF the frequent
and devastating fires which general throughout the
different sections OF the country there is demand ior
au Immediate and decided increase In the rates OF
That Temporary purposes the arh OF 1896 aud 1867 30
ordered adopted, and that the state boaIusl
through their DstricC Committees at once revise all
tariff, upOn the 70 lowing standard: N all places nav
ing not exceed $1,000 population ada az eisD 80 per
cent 70 present rates, aud lat eID % per cent IN az
places having over % 600 population. IL is understood
that the Executive Committee OF the National Board
will be empowered 10 make exceptions and reYlsi0ns IN
places where III their opinion adequate arns are no"
IN force.
The following we're adopted
Roraf That shall take immediate steps 70 ADVANCE
Of premium the repOr. submitted by tao
Committee Rates adopted By this Board. q,
Red, That all agents representing our respective conp Is lA
governed by tho rates aud rules OF
negectng refusing TO comply With tbs r.
quireen spin. rl letter. pledge ourselves A. members Of
HaiClai Boa A.
Rso That herewith direct all local boards to
iy 5uck buildings oler
dWehn a5A Mansad which Is eonsueted entirely
through eOPei wood Whatever oe a ia
slgcton.