, 1879-06-22

] Tho Underwriters Figuring for Advanced
> Rates.
IAe rumOr or an advance IN the rates Of fire.
Insurance IS something veil calculated to inter
est insurers as we'll rs insured, aud especially
|, the latter. Such rumor is in existence nou.
Whether the-latc conference OF general agents
at the Grand Pacific had anything to do with
the question Or not cannot be definitely learned,
the local members OF the late gathering taking
greas pains to keep what was done locked NJ
beneath their glisten'ng and expensive shirt
boso1s, while the reportorIal inquirer is treated
with the most vague and general replies that
smack Individually OF the short Of stuff known
as tally" One Of the gentlemen i'd
mttted yesterday that the Eemberz
OF the conference were pledged to secrecy,
but the proceedings weren't OF any public inter-
est anyway. They had come together to talk
over the existing decentralization In the business
whatever that might mean-and the need OF
reforms, but really they adjourned without per
fecting plans OF an organization. Whether the
question Of raising the rates was brought up,
discussed, or ANYTHING done with it, could not
be asccrtained, for on that point the gentleman's
lips were sealed By the promise he bad 11ade
not to give it away. come what might. In the
next breath, however, the interviewed admitted
that the losses for the first half OF the year had
been bee f5st si9@o@ tp tast
to protect the companies. And some
thing would be done, too. Just
what it vas, 1t wouldn't do to tell, of course,
but the interviewer might print it ia his paper
that neither. themselves nor their companies
were made bankrupt. From, all Of which the
public will, Of course, infer just what it pleases,
though to man up tree 1t would seem as II
the fate-rtsing scheme Was one Of the reforms
possibly about to be undertaken. Another
gentleman, not member Of the conference
confirmed all that had been said about the large
losses for lS19. In fact $4,000 000 for the 6rss
live months in a rear was something unprece-
dented IN the history OF dre~insura1ee, and uu- :
we're in speedy way to get the worst OF the
bargain. There had been strong fight too,
said this gentleman, between the companies,
and it all came about in this way. Agency
cutting OF rares eusued between them and the
home companies Rates on dWeltns-houso
risks, which formed a large part Of the business
OF these home companies. had dropped to =
in fact. taken away the business Of the homo
companies to such an extent that the home
folks had themselves been compelled to go
into the agency business to keep themselves
alive. Not understanding the method
Of doing an agency business as wen aa they
Tbe companies here-agency as well as non
agency compauies-had lost money, on tho
whole, and lost it pretty largely, too. Whether
there was any cooperation to secure an advance,
one thing was certain; either rates had got to
adyauce or large number Of companies had
got to get OUT OF the business since they were
falling behind all the time
Several others who we're seen held to the same
general v1ews,-that the losses SO far this year
lsd simply been enormous, and that something
must be done to protect tile companies. Rai3-
ng the rates was the most feasible. 1t not tha
only way, to do it, and in oil probability an ai-
rance would conc.
In order to make the move success, 1t must,
IT course, be 4 general one, and, with this in
7ieW, the inference that the late conference took
- and considered this question, and took steps
towards preventing themselves and the COM
'auies they represent from becoming bankrupt"
3 all the more reasonable.