The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-06-28
THE INSURANCE QUESTION.
To the Editor of the Bulletin

To the Editor of the Bulletin:
should ordinarily hesitate to ask the use OF
your columns to ventilate purely private mat
ter: but as you have opened them to IN p" to
| attack the action of the underwriters in par
| tcular fire case and to the rejoinder Of San Old
Merchant" (who, l judge from his style, is a
| local underwater interested in the case under
| criticism), respectfully ask permission to say
| few words.
| Underwriters here or elsewhere do not pay
losses until claim is presented and has been
carefully examined, to ascertain what the claim
| is, and what indemnity is due the assured. They
must have time, and take such course to ascer
tain this as seems likely to arrive at just result
| Ii IAN old merchant had in his communlca-
ton simply justified such course by the local
underwriters, he would have been right; but he
goes farther, and has the bad taste to charge
that the representatives Of foreign insurance
| companies invariably more eXacting i'll their
demand for proof, and more prolific of causes Of
delay than our local companies have ever BEEN"
This IN simply untrue speak from absolute
nowledge Of the principal that governs the
managers of all tirst-class English and Northern
| companies, when say their aim is i'll all cases,
and agents are SO instructed, to ascertain prompt
ly when a loss occurs, what indemnity Is justly
due the insured, and when that ascertained
no delay is tolerated in adjustment and payment.
The ample capital and large surplus of these in
situations, makes the charge that their repre-
sentatives seek desire delay simply ridiculous
and An Old Merchant" will not make capital
out OF such inslnuatlOns. AGENT.
THE BOARD OF UNDERWRITERS.
Messrs. Editors New Orleans Bulletin:
With no desire to prolong a controversy, but
simply correct errOneoues statements and cOnclu-
siOns, beg leave to state that the members Of
the Board of Underwriters have in all
curing since the publication of the resolution
rigidly enforced it, As to the sixty days clause,
every intelligent merchant understands it, and no
trouble in settlement has arisen under it.
As to the now pending to which reference
has been made by A. Y. NJ. no claim in proper
form sustained by their books has been presen-
ted, and an investigation is in progress, to
tain if it is sustained by the books and the method
is not an impracticable one. if the books cor
rectly kept, and not so considered by many old
business men.
1t is false that the 81 idle and scandalous rr-
mors' were first put in circulation by members of
the Board and no unfair representations were
made as to the showing of their books, as to the
individual opinions of the members of the Board
am not posted fully, but do not believe that any
have been expressed by them that would reflect
upon any member of the house, but, to the con-
trary, general expressions Of confidence in the
correctness and integrity of the gentlemen have
prevailed in all their meetings. and desire mani
tested to indemnify them fully for their loss, and
which will be manifest when it is ascertained.
AN OLD MERCHANT.