National Republican., 1883-05-18
ALL ABOUT FIRE INSURANCE.

Meeting OF che National Board OF Fire
Underwriters - Election OF Oficers and
Other Items OF Interest.
New York, May 1.-THE annual meeting
of the national board of fire underwriters was
held to-day. The annual report of the COM
mittee on incendiarism and arson showed
that there were now 11S subscribing COM
panies whose united subscriptions amounted
to Sl47,2H. During the year 14S rewards
were offered by the provisional committee,
amounting to $4s,200, out of which ten re-
wards were paid, amounting to S2,700 by
means of which the conviction of fourteen
incendiaries was secured. The capital of
American companies reporting to tho New
York insurance department for 1882 has de-
creased 81, ,493,572, the dividends Sil2,7 700; the
premiums have increased $1,056,lS6 and the
losses have increased 81, 500, he The per-
centage of losses paid has increased from 5392
TO 56.5l, while expenses have gone up from
1868 to 35.62.
Foreign companies show an increase of
S5,710,102 In premiums, with an increase in
losses of $3,s77,4O6. The grand total shows
an increase of 1914, ,11S,303 in amount writ
ten, an increase Of $6,S26,ssS in premiums,
with an increase in losses of $5,76954S. The
ratio of loss to premiums has increased from
55.s6 TO 5s.44. During the past year the
profit on every 800 written was OILS COM
pared with 1881, which consumed in losses
aud expenses 80 IL of premiums, 1882 bears
the palm and has devoured LOB of premiums,
to say nothing of increased liabilities for
losses. The general tendency of the ratio of
burning is upward, and from the figures
given, the conclusion would seem
TO be inevitable that the actual
fire cost. irrespective of expenses has
increased during the past nine years. The
fact exists that the premiums obtained have
not been equal or adequate to the protection
expected and rightfully demanded. The fire
costs had not been fairly met by the rates
charged. Twenty-three years show that the
margin of profit with the average skill of
management is less than 8 cents on each $40
of risk. "Our term risks especially are
written too low; they are mortgages on our
future; their enormous increase. with their
attendant low rates, is to-day the most dan
gerous feature in our whole business" This
concluded the Presidents address
The following officers were elected for the
ensuing year president, d. A. Head; vice
president j. w. Murray secretary, ID. w. G.
Skitton treasurer, J. S. Parish to fill va.
cancics on the executive committee, Peter
Notman New York ; Charles Platt, Philadel-
phia; Albert Bonker. Boston, and James
Nichols Hartford.
Resolutions were adopted declaring that
the national board ought to embrace all r.pu-
table companies doing the fire insurance bust
Hess on 10 STOCK capital III tne united states;
that il was of the highest importance TO the
insurance interest TO show Strong front to
the attacks on the business arising from op.
pressive legislation, excessive taxation, &C.,
and that front the board could not show with
its present numbers, but to effect that united
strength and 10 bring up the board to its great
est efficiency and in order to facilitate the
entrance of companies tho platform of the
board should be broad enough for all COM
DanieS TO stand topether. and that the hoard
views with great satisfaction the organization
of local boards and the formation of tariffs
whether stimulated by the spontaneous action
of special and local agents, and welcoming all
such works rs are eminently calculated to re-
pair the falling fortunes of fire companies On
the basis of these resolutions all fire insurance
companies in good standing are invited to
unite with the national board. Having con-
cluded all the business before the meeting the
members of the board informally discussed
number of subjects connected with their bus-
ness, and then adjourned sine die.