, 1873-04-25
FIRE INSURANCE.

Convention OF the National Board OF
Undcrwritcrs-.-secon Days Pro-
cccdinga,
New YonK, April 2i.-Tho National Board Of
Fire Underwriters, III session today, adopted d
resolution, on tho recommendation OF tho Com
mitteo Of Local Doarda, empowering euporvis-
ing AgentB to examine privately the books Of
my insuranco ngont suspected Of taking risks at
loss than schedule rateB, ind to report tho facts
was also adopted to establish fund OF 100000
to pay rewards to SECURE the arrest aud oonyio-
ton Of inoen1iarins.
After long discnesion, n resolution Whs
adopted giving the Executive Committee. power
to considor Recommendation for the adoption
Of tho "Throo-quartorn limitation olauuo," such
clause to be Inserted In all policies, thereby
limiting the liability of tho companies. The bill
of aappors and minerg Witt power to destroy
buildings to preyent great fires, Was favorably
viowcd, and . copy thoreof ordered to bo sont to
eeoh Board Of Firo Underwriters in the United
Btatcs. A resolution was referred to the Com
1nittoo on Legislation advocating repeal Of tho
State law, ta1iug premiums mud deposits Of for
ojgn, companies and promluma Of Stats COM
panles.
Tho only change in tho now board of officers
IL Samuel T. Blagdon for Secretary.
Atter rocess, tho Committee On Adjournments
md Statistics offorod a supplementary report,
requesting all companies to collect as much sta
tfetcs Of firos and loHaea on different kinds of
tlon to the general agent, with yiow to as cor
roct an adjustment Of rates and premiums On
property as possible. The report was accepted,
Mr. Garriguo offered 3 resolution to the effect
TINT IN losses whore number of companies are
Interested, no company shan pay tho minimum
on its amount Of risk until Il has notified tho
other companies. Tho resolutions also advised
precautions against tho hasty Payment OF loHses,
md provided that ad1uHters, before any claim fa
paid, shall Hond proof Of lossoa and Adjustments
to the homo Offices.
h1r. Hondeo and Mr. Webster opposed the
the resolution regarding the hasty payment OF
lossos and requirement. OF proof Of losses being
sent to homo olAcos bofore payment was With
drawn. The following was offered IN its stead
| ond adopted:
Iesolpcd, That the companies constituting tho Ma
ttonal Doard will discourage tho hasy adjustment
and payment OF tossos, aud will, 30 far as ID c1-
peden hayo the proof Of said LOSSES sont to their
spectiye offices before their payment.
Tho following WIS also adopted:
maturity shall not be authorized by any company With
out the CONSENT In writing, OF the majority OF tho
companies interested having boon previously received
The election OF officers was then gone into,
pontod p toliors Tho % ticket reported 5y Ito
Nominating Committee WAS elected.
| hrr. Locke submitted a long statement from
| the New York State Board regarding the rates
on farm property, and giving the principal foa-
lures Of the now form Of policy oan and regulation
| their action In this matter. Mr.. Locke an
| nounced that the Flro Insurance Company Of
| Watertown had Withdrawn from tho 6tate Board
| and refused to agroo to tho new regulations.
| The Atntonent vas refored to the Executive
1 Committee.
Adjourned sino dio, tho President promising
| to announce the standing committees at q future
! time.