New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-02-08
INSURANCE DISsENSIONS.


PROBABLE DISRUPTION OF THE BOARDS OF UNDER
WRITER'S AND INSURANCE BEOKERs-FURrIER
WITHDRAWALS FROM HE UNDERWRITERS BOARD
OFFICIAL VIEWS.
Renewed troubles have arisen in the councils OF
the Board of Underwriters, which threaten to IN
yove the entire DISCRIMINATION of that Board, and
Of tie associate organization known rs the Board Oh
Insurance Brokers. These two associations were
formed for the purpose of regulating the insurance
business of this city, especially with view 10
preventing the cutting of rates II is almost always
the case when combination is formed for the pur-
pose of mautaninga scale ofTates that dupclty and
suspicion have existed The Board OF Insurance
Brokers was organized for the purpose of coOPeIat-
ing with the underwriters as far as pTactlcaDle
Whenever the underwriters held meeting, dele
CATION of the brokers was present by night or cour
tesy and participated in the deliberations whenever
they touched upon matters which interested Their
association. Whenever the Brokers Board held a
meeting. the underwriters were represented by
similar delegation with similar privileges. When
the principal organization was affected with inter
nal dlssensions the Brokers' Board to some extent
became involved.
Three insurance cOmpauics-thc American, Mer-
chants. and Gebhard-have withdrawn from the
Board and on Saturday it was reported that mum
Der Of others had Withdrawn. Among those most
positively announced to have withdrawn was tie
Standard, which, Ike the three companies above
mentioned is of good standing in Insurance circles
STATEMENTS OF OFFICIALS.
Prominent insurance officials state that the
efforts of the Executive Committee OF the Board TO re-
store harmony Of feeling has apparently had the eject
OF widening the breach in tae place o. closing H. ana Ii
expected that before the next regular meeting Of the
Boarl the number OF designations will be largely in
| MAJ
trouble ana one is that the larger companies are deSr
Gus of depressing the smaller ones, by cOmpc ling them
to abide by certain IUes and regulations which might
aot be considered companies with large cip
tails but which might prove ruinous to younger COM
paues ID search Of business. The following circu
lar to the various companies explains hat leu to s"no
OF the troubles which have eliminated IN the with
draTal OF a number OF the companies:
The following having been adopted ~ substitute Tor
Section p OF tho bylaws (CuderWrcr). The same goes
SLc!oS q. 1t snal! be tue duty OF AL members 10
bring 10 the notice the Commtice on D,7Iaou- any
violation % the established rules aud rates WINCH may
~ All ~ ,,,rt ~ tho 10 r, t,.f sIlcn Violation
vas Intentional ana thai TIC offending m'inb !, per
si.teut and viii III in his wrong, he snail be- t'e 10
shall report TO HE Board tuit such violation OF the
ll he'd rules rates OF me Board was ny mistake,
sch t.i,rr 80 Offending sha he Inca $ iJr taa first
VOCATION $40 for the second. and s. additional fOi each
s Jscq violation, IN any OGe calendar wear; Pre-
videG however tna SIS shall be the maximum line for
Nny member OF the Board refusing or ncglectnc to
pay any assessment autIUIzei by the Board, OK any
| fine wuch The Board may declare day Imposed, may
DO suspended from mcm5- ls.iP and dalIS such sU.-
pension. the ropresentAtNH OF s.h comPlnJ or ~!
ocfduiIng agent. IS pIoaioied from Ynns or 4ains
part the proceedings OF The Bpird; ana colliHu
ton o. such deau for three months sLal "e sam ZEN
cause for expulsion Bat 10 expulsion RON the Burd
snail be hCI TO eXOnergtc any company agent or per
On from their o'-au'A - paw me- Pyp!!,.,! - '-
Ere Petrol ana oth-i W '".. @'.'', 'A' may "e la
Cured under the provision, OF tne chdIiet.
one OF the members of tao Executive Committee Of
the Board OF Underwriters VINO also is President Of
All l..u rance co;niauy sal to TRIBUNE reporter yc
tclday tina, he dd not see how the Board could ho"
T. .,, r much longer lie bad been credhly Informed
tia. III addition 10 the American and Other insurance
conn tues which bad sent IA their designations nor 10
Feb. the Standard Insurance Company had a win
drawn: tGcrc uHd been no meeting o. %. Com
uttoc, lac could uO speak positively. IA had heard oi
pii,rd to mud that IN secretary Of the Is Id maj sew
tIal letters TO tina, effect in his possession. 1Ie
only bus ness That hdd been zone by thc Executive Com
nnttee 10 BIS know l"dS- had been tie appointment
OF committee 10 d.visc means for bringing the GI>s't-
LIED companies within the fond OF union; hat since
tAat appointment he had learned, what e believed
refused 10 serve. From ns own personal oOscrva-
ton, appeared 10 MIN tat large proportion OF the
companies trans tctlg thciI hus.-os> nearly d,
.G Inc recent threat Of uii.cing f.r. r ,relc OF
r.ics Iad been totally eirded I' desire OF tLe
larger companies to rule ne smaller o. md not com
cluc with the feelings or many OF tn f--'s u tie
latter aud they had naturally rebeled
A dlrtcicr Of the Standard Insurance Company said
ma" he understood his company Lad ser ID IA let %!
notice to withdraw from the Board OF Underwriters;
bat Lc mad received no Omc Information Of TIE fci.
For himself ne believed the rules OF the Board had
done more TO niIrc the business .! some ~ thu iaSI
race companies than they had done e1OI even Tor the
Whole. If Boarn OF UIIerWr iters wds for tn pIi-
u r, Of BE pug the large foreign c0ipru,rr who had
agencies in this city. and tLJse Am Ican com duit
otc,i l NJ abHultncc o. c1it}l and surplus then Ac
f6.i = time FL Hose who were not Ell situated
10 look out FOR themselves lie only spoke an md
viiu3l. aud not ally.
member Of the Board Of Insurance Brokers said mat
c mad heard OF several uaed T-siEuatlJas of
pcrt nom thai Board aud Knew certainty Of one mem
her WuQ pal lesglcd, 81 tn .ght TIT the lnsulduct
Business was Being carried Generally regardless OF
"tlc rules :" fact ne knew OF several casts where
poiicl,s were written up lar below tic schedule
rates even bv companies protesting 10 be WORKING VIA
the Board Of Underwriters. lie could not exact say
tnlt there was disruption ia the BJ.ri OF B.Oacrs
Dat from appearances 1t "as very La y there soon
would b. II at the EcAt meeting many letters OF
withdrawal should appear DIS he ndd heard spOAcu oil
lIe preferred mention at present n" had
not OF any action having been taken Board
even The case Of the withdrawal 10 which liz had al.