New-York tribune., 1885-02-16
REPLYING TO PLANOMAhERS.
THE VIEWS OF AN INSURANCE MAN.

nrrrxnIyG THE MOVEMENT TO SECURE FULLER
INSURANCE oN WOODWORKING RISKS.
Tho views of piano manufacturers, prlnted
in TIE TRIBUSa last week. on the recent acioh VI ~
Tarin Association which requires wood-"orAins 'i
m he insured for at least 20 per cent OF 'hcir "o
,aIue have put brokers on their meuc' io'
re ready 20 strike back with both hands and are deter
min ed to IL ake the wood workers come to terms H. "
Eennedv broker who speaks for large constituency
said Yesterday -,
Zone of the piano manufacturers says that tnc ruiz
won't affect him. his risk Is In Baltimore ana Is co
sidercd Arstclass. Perhaps 1t is. but know tha'
special agent this city examined II ana mmeu"'eS
ordered cancelled policy written by the Ba'hoio
agent of New.York company Mr.. Chckering virtually
conesses that his risk has been costly investment or
insurance companies but still doesn't see how these
people are going to succeed or why they shoulu'
hans Mr. Currer OF Mason IIamlin. who says tnat nc
is not Interested will explain why piano factories anu
similar risks have for losses. for many years
than they have paid premiums. The steinway risks
are certainly first class Much was done by inc hIih
TO make them before the Tariff Association was organ
ized and much has been done under the advice OF o n
surance Inspectors Their risks rate at half OF whal
some Others pay They have been ready 10 ADOPT
sensible suggestions for the improvement OF heir sAs
that sorry the head OF that great house looks on the
action OF the underwriters as smacKng OF injustice.
"What is the effect OF this rule Simply to com
mel woodworkers to do what dry goods merchants ana
hearty o traders do-carry fair amount OF insurance
occ1rs and is cxtingushcd after exactly half the
property Is destroyed or damaged IL !, oimn loImu
Cons equenty the insurance company pays toth loss
If the property had been fully insured the company
would have paid but $500. This has been the eIpeI
ence with wood workers Companies put mp rates nut
they do not the general result get any more money
9mence OF tho advance buy less insurance Then the
together and say II We are to nave to
losses every time we have fires we can aho 10 insuI
these all unless these risks VIII insure Tor a
smounts'we will not issue our policies on them Uh-
dOubedy this will cost The woodworkcrs more Iof pre-
niums. and IL ought To. FOR some years the CotnlcN
dhe values there being so great they can cin'sc ao M
what they peasel, and foong the piocecds h%'y on
classes Of risks that proving steadily unpronta'e
II became one Of tho standing jokes, when ot OF
underwriters met after heavy loss ia lne Souh uI
lie dry goods district and It il no than fair. now
that companies give the dry goods risks r9;' % ana
the condition requiring 20 per cent OF 70
value the business Of the woodw0fEer. hcco ct'
iyelg profitable lof which there Is no fcar Tie nanu
facturers may confidently rely on competition 10 Icnuro
Rn n tbi, ias resort doesn't convert those risks
from losing class into paying class, many more com
panies Will do what scores have already beeh com
Won :" citc Mr. Weller Continued Mr Kennedy. "among
your interviews, complaining that the u1uerNil,ei
furnished him with instructions for the improvement ot
his risk promising him lower rates ana athoufn we
Instructions have been compiled win 10 the ie'r .ne
lower have not yet been made reGtei ih'' t, l
Weber doesn't keep better informed about MS lsE Io
I'm the place Mr. Webers people have n9t cohp.!eu
with the suggestions made ana s.couIY' ~
were long promulgated on his factories ID ShrGI"
ton of partial Improvement For years the uhuer"ttrS
have paid out more FOR losses on wood~oIkhg
risks tan they have received In premiums. AT lasi
after conference and in concert they fixed what secc
fair rates They offered reduction of 20 per cent "f aby
rate made aud on rate OF per cent mat j. very
large alowenccwhere the assured would carry fll IN
surancc Not single wood worker took ADVANTAGE OF
the offer. the contrary, many especially cahihet
makers who were more aimed at thdn planonhgcis'
carried even less insurance than before 80 Inc uhder
yriers now say 'Gentcmen there - no law 10 compel
Ms 10 give Won policies and unless you insert this clause
orciup TO carry 20 per OF your vauo insured we
viii not Issue our policies That is only doug the
panomakers II you want good piano you give thc
maker his terms-Or you don't get the lhs'EuLlehl'