The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-25
INSURANCE NEWS.

The National Insurance Convention is in
session at st. Paul, Mimi The call was is
sued last month by the Massachusetts, in
s,rance commissioners In 50 quiet way as to
or the press to know anything about the az
fair. Evidently the official exponents Of
State supervision are beginning to take Mr.
Foots. view of things, and find out that their
speciality is OF no consequence. u NY. Mail.
The direction of the Bureau Veritus has
just published the following statistics of
maritime tim, disasters reported during the month
vessels reported ost-23 English, 10 Norwe-
gian,. 0 German, 8 American French,
Dutch, italian, Spanish, Russian, Bra
tionality is unknown; total, H. In this num-
Der are included 8 vessels reported missing
Steamers reported loSt-6 English, / German,
! French, Swedish; total, s.-[Baltimore
Underwater.
The Baltimore Gdseue remarks "that the
owner OF the piano factory which was burned
the other day being now pretty well down
the newspapers are improving the opportu-
nifty to give him the kicks which they ought
to have given him during his prosperity"
Which all looks well on paper, but while ap-
proved by the building inspector, used with
out complaint by the workingmen and insured
without murmur on the part of the UNDER
writers, what was there In the matter to at
tract the attention Of the newspapers The
proprietor being down should be kept down
until until he learns to avoid putting up such
man traps as the one lately destroyed.
Companies have been formed in France to
guaalr,antee employers against the pec9nary
dent In their factories: The companies will
insure individual workmen; but when an ac-
cident, happens, they seek all the evidence
and addnce ell the arguments which tend to
compromise; while the employers are under
the imputation OF being parties to the opres-
sion Of 9 bereaved family M. Feron, mem
Der Of the Sooiete du Nord, says: I'm mat
tiers OF insurance against accidents, the only
method which deserves recommendation Is
that by which the workman, as well as the.
master, is guaranteed against the effects Of
his imprudence or negligence When an ac-
cident happens, the assurer indemnifies the
employer, and the latter in his turn indemni-
fies the workman, without the intervention Of
the insurer IN the latter arrangement. In
this way only can assurance against acci-
dents retain the regular and moral conditions
of insurance in general" London Review.
The eighth annual meeting of the Under
writer's Association of the Northwest was
opened on Wednesday last, in Chicago, by
President Chas. E. Bliver, from whose adj
dress we make the following extracts:
To preach that indemnity shall be sold, not
to the highest, but to the lowest bidder, or
for what O customer may chose to pay, does
not require high order OF talent. But to
practice such doctrine and save q company
from bankruptcy would prove far beyond the
skill OF the ablest underwater
Insurance is a neceSSity-the protection 1t
affords Is Invaluable, and like everything else
worth having, it costs something. That cost
and reasonable profit must be paid by the
assured. Whenever company or its agents
sell insurance below an adequate rate for the
risk assumed, 1t may be set down as q fact
that they place the truest measure of value
upon the indemnity that will be furnished
when loss occurs.
He also insisted upon what the State owes
to insurance; equal taxation and only such;
the same legal right as other kinds of bust
ness; the prevention of the organization of
insolvent companies those without an
adequate capital, invested in bonds issued by
the United States, or by the State under
whose law the company may be incorpo-
rated" we'll considered building laws; that
laws be enacted providing for q judicial in
quiry into the origin Of fires: more effectual
laws for the punishment Of ineendiarism, and
the abatement Of the " tramp nuisance