Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-11-11
FIRE UNDERWRITERS
THEIR ANNUAL MEETING HELD HERE
ON YESTERDAY.
Report OF the President; Election OF
officers and Other Business,
&C. &c. Sc.

The Stste Board Of Fire Underwriters OF
Virginia, composed Of officers and special
agents Of the fire. insurance companies au-
thOrized by our laws 10 do business in tins
State, met In annual session at tire office OF
the Virginia state Insurance Company At
II O'Clock NJ. yesterday. Among the pro-
minent insurancc-men present were Mes'r-
W. J.. Cowardin, president OF the Virgin
FIRE abd Marine-Insurance Company. and
president Of the Virginia BOIrd OF Fire
Underwriters; A. G.. McIlwaine, OF the
Ne" York Underwriters Agency; Johu
Wilder Atkinson, 81 the Fire Association
4 Philadelphia; John w. Gordon, OF The
Hamburg Bremen Insurance Compiny
Thomss &. Peyton, Of the Scottish Union
and National. ard the Lion Insurance
COMPANIES G.. \. Davenport, Of The
Liverpool and London and GlODe
Insurance Company e. w. Butcher,
~ the Petersburg Savings and Insurance
Company; II. &. StOckdell, Of The Phnnly
Insurance Company Of Brooklyn; J.. Il.
Worron. Of the Phoenix Assurance Com
psny Of England ". V. II. Willams. "
the Portsmouth Insurance Company; ID. y.
Walker. Of the Queen and Williamsburg
city Insurance Company; NJ. Levin
Hewcs, Of the Royal Insurance Company;
Robert T.. Richardson, Of the Virginia
state Insurance Company; Joseph u.
Moore, Of the Western Assurance Company
OF Toronto, Canada.
Colonel J. c. Anderson, OF West Nir-
ginia, was present by invitation.
The deliberations were opened by an able
and interesting address by Mr.. COwardin,
IN the course Of which he SAID:
at is sad TO reflect that, notwithstanding
cilo.t on our part, the companies have made
no money in Virginia for over five years.
but this result is not without similar CX-
pCriencc Of the Insurance business in other
States. But why is it? 1t cannot be be.
cause we have Boards, since they have
served 10 maintain rates that without them
would have fallen into hopeless derlngc-
ment. What il The remedy; A prominent
company that wants commissions reduced
writes II we cannot reduce expenses we
should reduce rates, and that justice 10 our
assured requires that we should protect
their interests. We cannot unravel this
logic but must conclude that our friend
has fallen among extremists, or has pas
sion for directing storms. While one
fifth, one fourth, or one third OF the prr.
mium-rcccipts 20 to the agents Tor
which we cannot blame them. and
considerable part Of the remainder j.,
taken for taxes and incldcnttis, hoW can
we pay losses by reducing premiums for any
reason? Justice 20 the assured indeed,
who should prefer Indemnity 10 low rates u
premium. We have Just read the letter
If an agent in large western city, who
represents a number Of companies. II
says: Il have thought best TO drop Won 4
line in regard TO commissions. Nearly
every company in my Office allows me -
per cent, and for the last two years. and
want yours TO do likewise. You are get
ting the cream. / have been hoping you
would have volunteered the above Is others
have DONE Is We have artificial butter, it
is possible that some form Of artificial cream
has served for the above cOmplrIsOn-in
these DAYS u crcamlc,s Insurance. t.
yards the companies
In conclusion. be urged a closer aud
Grmcr cooperation among the companies.
Mr.. Cowsrdin declining a reelection,
Colonel Thomas G.. Poyton WAS elected
president tor the ensuing year. MIR. &. y.
Davenport was elected yice-presldcnt. and
Mts>rs. ID. y. Walker, J. Dew. Churchill,
md Re. +. Richardson the Executive Com.
mittco. i, II. Gibson was rejected -crrc.
tary.
Aiier the transaction OF other bu'inos-
relating 10 the regulation and conduct II
the lre-iusursnce business in the state. the
Board adjourned TO l0o'clock this morning.