The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-04-17
A PROGRESSIVE BUSINESS.
Underwriting Changes with the Rapid Devel-
opment Of New Fuels ard lights.

The introduction of natural gas is quite likely
to influence transactions in Indianapolis IN more
ways than the people think. The insurance
men particularly giving it's effects. as they
concern them, close attention. 1--WE are only
looking at it in half dozen lights at present"
said underwater yesterday. ''but its effect
will be felt in almost every line of business.
Take underwriting, for instance. Il is quite
likely that it viii revolutonizs it in the city.
We are not able to say yet juss what the result
will be, but it will undoubtedly cause some
change For instance, if gas proves TO be a less
dangerous fuel than wood or coal, our risk be-
comes less, and consequently we can make q less
Eating in the city. On the contrary, suppose it
proves more dangerous than the older fuel. we
must of necessity raise our rate. In either
event. you see. the introduction OF gas will be
new feature in the insurance business, and Will
doubtless bring about a change IN the rat
irg used at present, involving, IN year, posSi-
bly,. good many thousand dollars one way
or the other to the citizens of the city. That IS
only one instance OF the many ways in which
the Insurance. business is being constantly
modified and affected. There is other that
Take for instance the running Of this oil pipe
from Lima. o., TO Chicago. IL Will introduce
largely into that city entirely new condition
of affairs in the way OF fuel The risks 10 in
surance with that sort of fuel will be affected,
most probably largely increased, necessitating
an entire rsadjustment of Chicago insurance
insurance NOW
things of this kind happening every day. People
generally think that there is nothing IN our
business except to issue policies and adjust
losses; that orr chief work is &C figure up the
balances between premiums and losses; but IL is
nothing of the kind. There are ten thousand
Knotty problems presenting themselves every
year to the insurance companies of this country,
and it requires some of the highest and best in
telligence OF this country TO settle them. It's
curious fact that the longer man has been in the
business the less. relatively, he knows about it,
he will always tell YOU"
els fire waste on the increase in this coun-
try?" he was asked.
Eyes, very largely It grows considerably
every year, and is due to great extent, if not
wholly, to the use of more dangerous fuels and
illuminantg. When we used Co have talow
candles for our lights there was not. of course.
such a thing known as lamp explosion. You OBJ
serve the Chicago fire, the greatest of the
century, could not have occurred under the old
conditions So in a hundred ways the dangers
from fires are being increased, and the amount
annually drained out of the peoples pockets
for all loss comes at LAST the people in
general, and it is growing greater The statistics
show heavy increase in fire waste from year
20 year. such, indeed that other country in
the world but ours could stand. We going
on from day to day in the use OF more danger
Gus oils and fuels, and hence our losses are
keeping pace"
What effect will the universal use of cleo
tricity have in the matter Of fres and conse-
qnentIy of insurance.
eve can't say to that That point is re-
ceiving attention by insurance men now. We
have just recently paid loss which was caused
by electric lights-so you that the claim by
some that there is danger from that ilIumi-
nant will hardly stand. This however, might
have arisen from defective work in some way.
The main reasonfor our increasing losses in this
country is, think, to be sscribed to our defect
i've ways of building. aud our lack of laws in
the regulation OF the construction of buildings.
The sooner pass stringent laws on this point,
and rigidy enforce them. 1 might say despot-
ically enforce Them the betterit will be for In
Europe. as you know, every plan for new
building must be submitted to the officers of the
government, and it is a well-known fact that
not one plan in twenty goes through unmodified.
Our methods of building would not be tolerated
at all in European countries 1t looks little
tyrannical for the governments to step ia and
say Just how we shall build our houses, where
we shall have a window and where not, where
a column will be allowed and where an arch
must be placed, but it is at last for the best in
terest Of all as long experience khRs proved
across the water.