The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-04-25
FIRE INSURANCE.
The Convention of tho National
Board of Underwriters.

L NO SA SAS
Board of Underwriters.
New York, April 23.-The National
Board Of Fire Underwrlters in ses'
sion to-day adopted resolution on
recommendation ot the Committee
OF the Local Board, empowering super
Vising agents 10 examine privately
the books of any Insurance agent suspect
cd OF taking risks at less than schedule
rates, and 10 report the facts TO the agents
company, only. A resolution was also
adopted to establish a fund Of $1OO, 600 10
pay rewards and secure the arrest and
conviction OfinCendiarlsms,
After long discussion, q resolution
was adopted giving the Executive Com.
mittee the power to consider o recon-
mendatiOn for tho adoption OF three
Tourths of the Limitation Iclause; SsuCh
clause to be inserted in all policies, there.
by limiting the liabilities oI the Compa-
nies.
The bill, pending in tue Legislature,
providing for corps OF sappers anu
miners, with the power to destroy build.
ings 10 prevent great fires, was tayorably
viewed, and copy thereof ordered TO be
sent 10 each board Of fire underwriters
in the United States.
A resolution was referred 10 the COM
mittee on Legislation, advocating re-
peal OF the State law, taxing the premi-
ums and deposits Of Foreign Companies,
and the premiums Of State Companies.
Tho only change in tho new board OF
officers is Samuel T. BlagdGn, for Sccrc'
tary. 49,.
After recess the Committee on Adjust
ments and Statistics offered supplement
tary report requesting all Companies to
collect as much statistics Of fires and
losses on different kinds Of property as
possible, and furnish such information 10
The general Agent with view 10 correct
an adjustment rates Of premiums on prop
erty as possible. Tho report was accepted
Mr.. Garrigue offered Resolution TO the
effect that In losses where number Of
Companies Oro interested, no Company
shall nav tho insurance on lis amount OF
risk until II has notified the other Com
papjes. The Resolution also advised pre-
caution against hastily payment ol losses,
and provided that adjusLcrs, before any
claim is paid, shall send proof OF the losses
and adjustments to home companies,
Messrs. Hindee and Webster opposed
the resolutions, and after considerable dis
cussion the resolution regarding the hasty
payment of losses and the requirement OF
losses being sent to home offices before
payment, was withdrawn. The following
was offered In It's stead and adopted:
Reso!ped, That the companies compos'
ing the National Board will discourage
the hasty adjustment and payment ol
losses. and will so far as Is expediont have
proof Of said losses sent to their respective
Offices before their payment.
The following was also adopted:
ReSolved, That the payment Of adjusted
losses before maturity shall not be author.
lied by any company without consent in
writing Of q majority Of the companies In
terested having been previously received.
The election OF officers was then gone
into. Messrs. Webster, Little and Miller
being appointed tellers, the ticket report
cd by The nominating committee was
elected.
Mr.. Locke submitted q long statement
from The State Board regarding tho rcgu-
lation Of rates on farm property, and
giving tho principal features Of the new
form Of policy and the regulation OF rates,
and asking the National Board to endorse
their action in this matter. Mr.. Locke
announced that the Fire Insurance Com
pany had withdrawn from the State
Board, and refused to agree to the new
regulations.
The statement was referred 10 the Ex-
ecutive Committee.