New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-09-11
INSTANCE MEN ORGANIZING.
HOW PROPERTY Is TO BE RATED.



THE OBJECT OF THE METROPOLITAN ASSOCIATION
OF FIRE UNDERwRITERs.
Several months ago a number of representing
the fire insurance business in this city met 10 adopt
for the improvement Of that business and agreed
to sign compact based upon the following principles
/. That all RISKS in the metropolitan district be
equitably rated.
2. That commission be paid in excess Of 10 per
3. That no rebate 10 the assured he made by COM
pane- from established and that rules be framed
under which the Relating Of commissions by brokers
should be prevented.
t. That penalties be fixed for the infracton OF any
rates and rules adopted by the association.
A committee of fifteen was appointed and during the
summer forty different meetings have been held to dis
the propositions and TO formulate plan of pro-
cedure Yesterday they submitted their report at a
meeting held in the rooms of the New-York Board OF
Fire Underwriters Henry Hall president of the
Northern Insurance Company of England presided,
w. W. Henshaw. of the Royal Insurance Company.
acting as secretary Z. A. Walton, president of the
Citizens Insurance Company, read the report and
planned its several features where any obscurty OF
meaning was apparent. The report recommends the
creation of an association to be known The Metro
potan Association of Fire Underwriters.r The dis
trct by organization embraces New York,
Brooklyn Long Island City, Hoboken Jersey City and
Staten Isand, and therein all risks other than on
dwellings and their contents and buildings occupied
a. stores and dwellings and their contents shall be
rated as far ~ practicable a schedule basis fixed
by the association Pending the preparation of these
ratings the association adopts and agrees To observe
the existing rules and rates of the New-YOrk Tariff
ASSOCIATION. Until otherwise ordered therefore,
dwellings and their contents and buildings occuL led
stores and their contents to be classified and
rated as follows:
Brick dwellings other than apartment houses
Household furniture therein .. IS
Frame dwellings, or frame with brick front ... 35
Household furniture 90
Buildings Of BRICK OF stone occupied as stores on rt
floor and dwellings above 20
Household furniture therein 90
Stocks and furniture and fixtures therein .. 50
Buildings OF frame occupied As storrs on nrst Moor ana
'NeinhSs -OoNe "a
and fixtures theren.-.-.-.- 80
Dwellings and contents may be insured for terms of
three i've years at the following rates For three
years terms, II annual rate for five years terms,
! - annual rates. No policy TO be written ior a
ger than five years except at pro rata OF he
annual rate Contents OF buildings occupied tor retail
stores and dwellings shall not he insured tor long
terms except pro rata OF annual rate. Committee on
Surveys and DeviatOns Is created who Will have gen
era supervision of the rOtng OF risks under the drec-
ton OF the association. This committee - TO appoint
manager of the Bureau OF surveys and Deviat0ns
who shall act sort OF umpire when complaints are
presented but from his decision members may appeal
and five members of the committee have power 70
reduce penalties. Clerical errors are 10 be deemed
violations under the rules of the association. Brokers
required TO pledge Themselves IN writing NOT TO
return any portion OF commission directly or indirectly
to the insured to represent as agent company NOT
a member OF the association. Nioisuon OF PieuGe
entails expulsion from membership t. which an
offender can only be restored by three fOurhs vote OF
the association The of commission IL enrolled
brokers not to exceed 10 per cent and nothing tad
tanOunt 10 additional compensation Is allowed rive
branch Offices are allowed in New York three IN
Brooklyn and Long Island CITY. and one each IN
Hoboken Jersey City and staten Island These are 10
be under the control OF managers who shall be pad
salaries but who shall not be eligible a. brokers aud
VINO shall not receive commissions. ne agreement l.
to be biuding upon members for one year from date
agreed on and meeting thirty days notice Is 10 be
held TO consider the proprety OF renewing the agree
ment for another year.
At the meeting yesterday which was entirely har-
mouions addresses were made by Rudolph Garrigue
Charles Sewell u. A. Head. +. Kennedy William
De L. BoughtOn, Francis o. Aield and others Nearly
all the sgners of the original compact were present
and sicned tbe new argeement outlined above. The
following committees were appointed: On Suryei 5
and Devations-George NJ. Colt A. VI Kirby j A.
Silvey. Augustus Colson, Walter Il. Page. Charles
Sewail and NJ a. Stone; On bylaws II Wash
burn. II. A. Oakley. 5 p: Bagden; }. q. Underhlli'
c. NJ Peck, J. +. Halstead and w }. Games. .